Massey University may sell $150 million worth of property, Albany campus hit the hardest

Late last year, Massey University sent out a proposal request for realty partners to assist in selling and leasing property from all three campuses. 

The document showed Albany being hit hard with nine lecture halls and a recreation centre listed, leaving potentially very little of the campus behind.  

The university is under financial pressure with a deficit of around $41 million for 2023, vice-chancellor Jan Thomas predicted to RNZ. 

Nine properties were listed for Manawatū, including two student villages and farmland.  

Wellington had four properties listed including two on Tasman Street.  

RNZ reported a university insider believed recent redundancies that removed subjects from the Albany campus were part of a wider plan to largely exit the campus. 

However, Shelley Turner, deputy vice-chancellor university services told Massive, “We remain committed to retaining our three unique campuses”.  

Turner said the university expected to sell and lease property late this year. 

Massey’s Albany campus may become much smaller. Photo / Richard Robinson

The document said spaces listed were “surplus”, such as areas not being used for educational purposes. 

She said in addition to the divestment of properties, the university would make sure future actions contribute to a “vibrant campus”.  

Several properties were not valued, but those that were had a combined book value of $151,213,000 (not including land value). 

The proposal request closed on the 15th of February and a preferred agency will be appointed before the end of March.