Nestled in Te Tōangaroa is Quay Park, 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.