NBR Calls for Container Terminal at POAL to Move
After reading a piece from Metro Magazine on Port of Auckland, I came across this piece from The National Business Review (NBR) also on Port of Auckland. Ok granted – the article was published last week but the relevance from Professor Tim Hazeldine (Economics – University of Auckland) is still there. You can read both pages in the embeds below but the article struck me on one account; third column of page two about half way down. I see a figure of ONE BILLION DOLLARS! That is the potential value of 50-hectares of land/real estate redevelopment if the container terminal at Port of Auckland was moved else where such as south-east Auckland as I advocate, or Marsden Point/Port of Tauranga combo that is also advocated by others.
$1,000,000,000 – wow. Look, I take it the land is and would be under the Auckland Council Investment Limited CCO (Council Controlled Organisation) if the land was redeveloped. So Auckland Council sits on a gold mine if it redevelopments the container terminal – “gold” to help REINVEST in some other investments this city sorely needs.
Redevelopment the container terminal for both private (residential and commercial) and public (civic or “parks”) use and the money from the investment there could be used to:
- Help pay for Port relocation to south-east Auckland (with the assistance of a POAL sell down (not privatised))
- “Deposit” on the City Rail Link
- Eastern Highway (as a 2-lane thoroughfare)
- Infrastructure like water and waste water that needs upgrades
- Pay off some debt
- That pesky cruise ship terminal (with some change to spare)
- Probably some deposits on some capital expenditure outlined in The Draft Long Term Plan
All the while Auckland Council gets; a nice “dividends” back on rents from the redevelopment for further investment, a connected waterfront for ALL to enjoy, trucks and freight trains off the inner roads and rail and a few other benefits of a relocated port. [Edit from admin] I forgot to mention as in the NBR article, Auckland gets a shot in the arm with residential supply being able to increase in the prime CBD area which seems to have chronic housing facility shortages at the moment (if rent and house buying bidding wars in Central Auckland are anything to go by)!