The Dunedin City Council has reversed months of opposition and released details of the investment property portfolio it is earmarking for sale. Mr Tombs, who only took up his new role in January, last week released a list comprising the council's $90.4 million investment property portfolio to the Otago Daily Times. Asked to explain the about-face this week, Mr Tombs said he was confident the publication of the information would not affect the sale price. The council had not yet decided which properties onthe list, or from its wider portfolio of operational assets, would be sold, or when. The asset sales were designed to help fund the council's proposed $854 million investment plan for the city over the next decade, easing pressure on rates rises.

Source: Otago Daily Times March 06, 2018 16:07 UTC