Council property rationalization project moves ahead
Buller District Council approaches local real estate agents for a proposal to sell a number of council owned properties in Westport and Reefton.
The council owned land and/or buildings are aimed to be sold on the open market as part of council’s property rationalization project.
One of the financial strategies council included in its LTP includes realising financial opportunities through rationalising Council’s building and property portfolio through the sale of surplus land and buildings.
Council’s acting group manager community services Krissy Trigg says: “We have assessed if retaining certain assets is strategically and economically beneficial and identified the properties that are underutilized. We now look for a partner who can oversee the preparation of documents, marketing, negotiations, and the sale of these assets.”
The first group of properties has a target date being sold by the end of June 2022, with a second group of assets being sold by December, with the final group of properties changing ownership by mid-2023.
Ms Trigg says: “Selling the properties will ensure land and property owned, vested and managed by the Council is rationalised and utilised responsibly. This will assist to keep the cost to ratepayers down and make better use of our assets for the for the benefit of the Buller community.”
Council has predicted and income of $450,000 for the year 2021/2022 from the sale of the properties which is budgeted for in the Long Term Plan.
Ms Trigg says once the requests for proposal have been received, they will be evaluated, and an initial one-year contract will be signed with the successful real estate agent.
“We want to partner with a local real estate agent on this project since it will be a long-term relationship. We want to ensure our chosen partner can obtain the best price and deliver the best outcome for the Buller community.”
After engaging a partner, the properties will be listed on the open market and councillors will be consulted before each property is sold.
“This is not a case of selling off the prize assets but an opportunity for council to save money and other investors to purchase and utilize currently underutilised land and buildings.”
-ENDS-
For more information contact:
Acting Group Manager Community Services
Krissy Trigg