5
ASSETS
...TO SELL OR NOT TO SELL?
• Metro Judo Hall
• Mill Street (land)
• Organic Recycling Centre
• Peacockes Lane (land and dwelling)
• Refuse Transfer Staton
• Riverlea Rd (land adjoining theatre]
• Theatres – Clarence Street and
The Meteor
• YMCA and adjacent kohanga reo
These propertes and investments are likely
to be sold subject to certain conditons and
an acceptable sale price:
•
Garden Place carpark
• Council’s share of Novotel and Ibis hotels
• Council’s share in Waikato Innovaton Park
These strategic sites may be sold depending
on development proposals:
• Land behind ArtsPost
• Commercial propertes on Brooklyn Rd
• Sonning carpark
• Victoria on the River site
We may also sell a number of endowment
propertes. However, the income generated
by these sales must legally be reinvested in
other propertes.
We are considering selling our pensioner
housing stock. We own 395 pensioner
housing units, split among 24 complexes
across the city.
No decision will be made on selling these
complexes untl we have consulted with
you.
We would seek to sell the units to a
sympathetc owner, such as a social
housing provider or welfare-based agency.
Separate to this decision, three pensioner
housing complexes – River Rd, Johnson St
and Ascot Reid Ryan – have been approved
for sale in 2012/13. These complexes are of
lower standard and not suitable for elderly
tenants. Existng tenants will be rehoused.
POSSIBLE COUNCIL
ASSET SALES INCLUDE:
• Citzens’ Advice Bureau Kent St
• Go Bus Depot
• Hamilton City Holiday Park
• Horotu Lifestyle Blocks
• Jag 2000 Anglesea Street
• Knox St Carpark
The Council owns a wide range of assets
from roads and water pipes to parks,
library books and buildings. Our assets
need to be maintained so they keep
delivering what you expect.
In the past five years we have spent
$408 million on new and existng assets
which has contributed to the city’s debt
level and cannot be sustained.
Having decided that getng debt under
control is a top priority, we could gain
revenue and save operatng costs by selling
some land and buildings.
OVER THE NEXT FEW MONTHS THE
COUNCIL WILL BE ASKING YOU
WHETHER SELLING SOME OF ITS ASSETS
IS AN OPTION FOR THE CITY.