Auckland City Council owns five parking buildings within the Auckland CBD – Fanshawe Street, Downtown, Victoria Street, Civic and Karangahape Road. All up, these parking buildings provide quite a few thousand spaces in the CBD. I must say I have always found it rather strange that Council does own car parking buildings – as after all does it not contradict with others plans and strategies they have to minimise the number of people driving themselves into the CBD?
While I certainly am not generally an advocate for councils selling off their assets, I wonder whether there are good grounds for an exception to be made here. Is it perhaps a bit of a conflict of interest for council to retain its parking buildings? Another interesting issue to look at is the value of the various car-parking buildings owned by council. The ARC’s “Region Viewer” website has some very interesting information on property valuations, and gives us an insight into what Auckland City Council could potentially make if it sold its parking buildings.
I get the following valuations of the parking buildings:
- Fanshawe Street: $15.6 million
- Downtown: $68.5 million (see image below)
- Victoria Street: $40.4 million (see image below)
- Civic (can’t really be separated from the Aotea Centre above it, so wouldn’t bother)
- Karangahape Road: $9.1 million