Hi Helen, reported purchase price was $134m, recognised as fair market price at the time. However, I don't think it would be at all accurate to say the land is being given away. Details are currently commercially sensistive (given ongoing development and negotiations). The government may take a lower price on some land to meet objectives for social or affordable housing, or funding of other infrastructure upgrades, but the land will not be given away for free.
Hi Helen, reported purchase price was $134m, recognised as fair market price at the time. However, I don't think it would be at all accurate to say the land is being given away. Details are currently commercially sensistive (given ongoing development and negotiations). The government may take a lower price on some land to meet objectives for social or affordable housing, or funding of other infrastructure upgrades, but the land will not be given away for free.
Price reported here: https://newsroom.co.nz/2018/06/25/govt-urgency-grabbed-unitec/