|RFx ID :||19223694|
|Tender Name :||Property Consultant|
|Reference # :||CON17078|
|Open Date :||Monday, 13 November 2017 10:00 AM (Pacific/Auckland UTC+13:00)|
|Close Date :||Monday, 27 November 2017 4:00 PM (Pacific/Auckland UTC+13:00)|
|Tender Type :||Registration of Interest (ROI)|
|Tender Coverage :||Sole Agency [?]|
|Required Pre-qualifications :||None|
|Alternate Physical Delivery Address :|
|Alternate Physical Fax Number :|
Whangarei District Council (WDC) are seeking independent strategic advice from a suitably experienced property professional on management & future enhancement of the Council’s commercial property portfolio including formulating an investment strategy & advising on an appropriate delivery & governance structure.
Summary of the current situation is set out below:
there are 42 perpetual commercial ground leases in total
commercial freehold is made up of freehold land & buildings, town basin, central city car park & the transmission mast. These properties consist of 80 leases
ground lease portfolio properties range between 5-21 year leases. WDC owns the freehold title to these sites, but lessees have perpetual ground leases that are renewable at their discretion. They also own all improvements on their sites
total value of commercial property portfolio approximately $49m.
mostly endowment property from land vested in WDC from the Northland Harbour Board after local government amalgamation in 1989
most of these properties are inland from waterways with good amenity & offer prime opportunity for redevelopment
most of the properties directly managed by WDC are tenanted.
currently WDC employs a property manager, but his role is largely operational & tactical and WDC does not have any high level strategic capability in this function.
there is currently no proactive strategy for the sale and purchase of properties. Property acquisition tends to be ad hoc as properties become available
there is no strategic plan for the commercial property portfolio although purchases are guided by WDC strategy, eg the Whangarei District Growth Strategy, the Blue Green Strategy and Whangarei 20/20 Momentum-Strategic Projects for the next 10 years.
there is currently a property reinvestment reserve fund where sales from properties are directed, however funds are not specifically earmarked for repurchase of other properties
WDC is currently working on a City Centre Plan which will be considered by Council in December. This is essentially a spatial plan with initiatives derived from community input which will set the strategic direction for the revitalisation of the city centre
following the adoption of this plan the Council may consider some showcase projects such as the redevelopment of WDC properties into high quality inner city living or affordable housing or constructing a conference or performing arts centre & the like
this could be done in conjunction with the private sector