Auckland Council recently announced a big step forward in its City Rail Link project, revealing details of the deal struck with listed landlord Precinct Properties to have underground tunnels built near the waterfront, under a new $550 million glass skyscraper.
Mayor Len Brown described the deal as a milestone and an historic moment for Auckland.
“This is the first step towards the construction of the CRL. It will lead to an exciting transformation of the public spaces around the Britomart train station area. And it’s an example of how a partnership with the private sector can deliver economic transformation and more jobs in Auckland,” he has just announced.
He also released new images of the Britomart station and a map showing where the tunnels would run.
New rail tunnels must be constructed through the site now occupied by the Downtown Shopping Centre, which Precinct owns, the statement said.
Precinct also owns two adjacent commercial office towers – HSBC Tower at 1 Queen Street and Zurich House at 21 Queen Street, it said.
The deal between the two parties enables the rail tunnels to be built as part of the Downtown Development Project. Elements involved include the sale to Precinct of part of Queen Elizabeth Square for $27.2 million; Payment to Precinct of $9 million for provision of an East-West pedestrian laneway between Queen Street and Albert Street and compensation for tunnels volume; Payment of $10.7 million for additional costs of office tower construction due to CRL tunnels; and the creation of a new downtown civic space between the project and Britomart, the statement said.
Mr Brown said the deal meant a coordinated approach could now be taken to the construction work, with Auckland Transport building the CRL tunnels either side of the Precinct downtown shopping centre site from Britomart to Wyndham Street and Precinct Properties building the tunnels below its site.