The New Zealand Defence Force’s navy property portfolio has tipped over the half-billion-dollar mark – up $214m in 10 years.
• The navy properties are worth a total $594m, up 36% in June 2016 from $380m in June 2007.
• The bulk of the portfolio is in Auckland – $582m’s worth – majority is in Devonport where NZDF owns 3 main blocks: the South Yard (Waitemata Harbour), North Yard (Ngataringa Bay) & Narrow Neck (Vauxhall Road).
• The 2 other large chunks of land that make up the navy’s property portfolio are also in Auckland, with $92.7m worth of property at Kauri Point & $79.1m on the North Shore.
• The NZDF also owns properties used by the navy in Wellington ($7.3m) & Christchurch ($4.06m) where it has a couple of training bases.
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