Quay Park is our single largest commercial asset. It is based on the Eastern end of the CBD, adjacent to the land currently occupied by the Ports of Auckland. A key landmark within the precinct is Spark Arena and Mahuhu ki te Rangi Reserve named after our waka.
Not only does it help to re-establish our presence in the CBD, it provides important income from its annual rent to be able to reinvest in to our hapū.
In 1996, we purchased the ex-Railway Lands (known as Quay Park) from the Crown and on sold the leasehold interest to a developer based on a 15-year prepayment. The prepayment agreement allowed us to raise the price of the land.