Auckland Council has agreed in principle to negotiate the sale of Queen Elizabeth Square in Auckland's CBD to Precinct Properties New Zealand Ltd in return for proceeds being used to provide quality downtown public spaces.
The square and the Downtown Shopping Centre sit above the route of the twin rail tunnels that will form part of the city rail link.
Precinct Properties proposes major redevelopment of its the shopping centre and surrounding properties which it owns.
Proceeds from the commercial sale of the 2000m2 public square could be used to develop an alternative public area, such as Admiralty Steps on the Quay street waterfront.
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