Panuku is Auckland Council’s urban development agency and currently owns and manages about $790 million of city centre waterfront properties. We are proposing to transfer the legal ownership of those properties to Auckland Council. Panuku would continue to manage the properties.
The resulting ownership structure would reduce governance duplication, increase consistency with other development areas and maximise future flexibility. The city centre waterfront properties are strategic assets so we want to know what you think of the proposal.
Read more about these proposed changes in Part Two (page 34) of the consultation document.