The Wellington City Council has sold three of its carparking buildings for $26.55 million.
The council said it had sold the James Smith's building for $16 million to Auckland property developer Manson Development.
The Marion and Lombard carparks, plus the development unit above the Lombard, had sold for a total of $10.55million to Tournament, a parking building company in Auckland.
The council's chief executive Garry Poole said the sale of the three buildings had pleasingly netted nearly $9 million above book value.
The sale attracted more than 130 enquiries and 21 tender proposals. Settlement on the properties is expected early next year.
Mr Poole said the council did not regard owning and managing carparks as a core business activity and would use the proceeds either for debt repayment or strategic activities.
"We are confident that we don't need to own parking buildings to ensure there is parking available in Wellington," he said.
