Auditor-General Review Concludes Tauranga Marine Precinct Sale Process Was Appropriate

The Office of the Auditor-General completed a review of the Tauranga Marine Precinct sale, concluding that the council followed an appropriate process and considered value for money for the transaction. The review found that while the process was sound, the council could have improved public communication regarding the sale price. The Auditor-General determined that no further inquiry into the transaction was required.

The review provides independent assurance regarding the $14 million sale of the Sulphur Point precinct, which had attracted significant public criticism due to the difference between the sale price and independent valuations. The findings confirm the council could explain the final price through negotiations and deductions for risk and hardstand use.