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$228m without a metre of track, now Auckland Light Rail disestablishment to cost millions more
(www.newstalkzb.co.nz)
this post was submitted on 02 Feb 2024
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I was thinking the land must be super expensive. But then if they have only spend $250M, maybe they haven't bought that much? But I wonder what the new government assets look like compared to that invoice.
They bought the kiwi bacon building on new north road which on its own was $33m. Not sure what other parcels they purchased but none of the corridor is what I would call cheap.
The government has good reason to talk up the price of the project to date, but if they sell the land bought then there's a good chance of recouping a lot of that $250 million. Depending on the timing of buying the land, they might get more than $250 million for selling it 😆