Since the beginning of this year, Massey University in New Zealand has repeatedly experienced financial crises.
First there was a significant drop in overseas student enrollment, and then the university began to lay off staff and cut funding, triggering a strong backlash from students and staff.
Now it has been revealed that in order to improve its financial situation, Massey University intends to value its three campuses in New Zealand by 1$500 million in some properties and land leased or sold.
Massey University started with only one campus in Manawatu, on the edge of Palpa North, but in March 1993 the university opened its Albany campus in Auckland, and in 1999 it took over the former Wellington Polytechnic and opened a third campus.
Recently, the university issued a request for comments to real estate companies, and plans to start leasing or selling part of the campus in mid-February next year.
This additional land is already more than the school needs. We invite experienced real estate agencies to submit a proposal to represent Massey University** and or lease the remainder property, as well as provide other brokerage services as required. The document said.
List listedIt includes 9 areas on the Albany campus, including lecture theatres and recreation centres, 4 areas in Wellington, 9 areas in Manawatu, including 2 residence halls and some land
Some of the properties have not yet been valued, butThe total book value of the property that has been appraised is approximately 1NZ$500 million, not counting the value of the land
The Manawatū Campus has 2 residence halls, Atawhai Village and Moginie Village, which contain 34 buildings.
Areas for sale on the Albany campus include Zones A and B, the Business School and the Front Office, among others.
The Wellington campus includes buildings on Tasman Street and King Street.
If the proposal is made in accordance with the submissions,The 30-year-old Auckland Albany campus is almost entirely **, and only a new science building will remain
Massey University has struggled in recent years due to declining overseas student enrollments.
Last year, full-time enrollment at Auckland's Albany campus fell to nearly 3,000, about 2,000 fewer than in 2019.
A university insider said that there are early signs of plans for the campus, such as the recent layoffs that eliminated some majors at the Albany campus.
A statement from Massey University said: "*Campus is nothing new. As with other tertiary sectors in New Zealand, the school's financial situation is challenging. ”