Eke Panuku outperforms in FY23/24
29 August 2024
Our annual results are yet to be audited, but the interim reports show we over-achieved this year.
We are proud of our strong performance during FY23/24, despite significant financial pressures on Auckland Council and the challenging property market.
Delivering value for Aucklanders and providing a return to Auckland Council through our property portfolio is a key part of what we do.
As Auckland Council’s urban regeneration agency, we revitalise and improve urban areas to enhance their economic, social, cultural, and environmental conditions to create amazing places.
We are proud of our strong performance during FY23/24, despite significant financial pressures on Auckland Council and the challenging property market.
Our annual results are yet to be audited, but the interim reports show we over-achieved this year.
$161.4m
Eke Panuku sells council-owned land that is no longer needed for Council purposes. We had an overall sales target of $155m for unconditional sales for the year and despite the slow property market surpassed that target by $6.4million. Our sales totalled $161.4m, which included the sale of the Downtown carpark to Precinct Properties.
98.2%
Despite a tough property market, the properties we manage were well tenanted. With 98.2% monthly average occupancy in our residential properties, and 97.1% occupancy in our commercial properties, both exceeding targets.
20,065 m2
Public open space such as walkways, roads and playgrounds is a key component of urban regeneration. We completed 20,065 square meters of public realm work this year, almost tripling our target of 7,565 square meters. This includes spaces like Takapuna’s Waiwharariki Anzac Square and the award-winning Hayman Park playground in Manukau.
135
We set a target to enable 60 new homes to be built by our development partners on surplus Council land. We more than doubled that with 135 new homes built by our development partners across the region this year. The number of new homes exceeded the target by 75.
$27m
We delivered a surplus from our property portfolio, which we manage on behalf of Auckland Council Group – our target was $17.3m and we exceeded that by $9.7m with a total surplus of $27m.
15
We set ourselves 15 key project milestones to maintain momentum in our programmes across our neighbourhoods. We met all 15 targets, one of which was improving the streetscape in Northcroft Street, Takapuna, and another was the completion of Jesse Tonar reserve in Northcote – a vital component of Te Ara Awataha greenway that runs through the town centre.
$17.5m
The Marinas we manage on behalf of Council (Westhaven, Silo and Viaduct marinas) have outperformed again. From a target income budget of $17.2m, an increase of 11% from the previous year, we managed to exceed the budget with earnings of $17.5m.
Some examples of our work
- City Centre
- News
- Onehunga
- Development
- Urban regeneration
- Mana Whenua
- Dominion Road and Valley Road
- News
- Development
- Urban regeneration