Having achieved 100% ownership of Auckland Films Limited for $1.5 million, Auckland Council should look at options to on-sell the facility to the private sector, Auckland Chamber head Michael Barnett said today.
“I appreciate the facility was purchased because a partner was in difficulty, but at the end of the day Film Studios are not core business of local government.
“Council should look at the options for a private venture to purchase the studio to make it a viable commercial venture, and come out financially ahead,” said Mr Barnett
A less favoured option is for Council to explore taking on an experienced film studio partner to secure the studio’s future for making top-line films in Auckland.
“Council’s core business is planning and running the core services needed to support business, not owning and running the businesses themselves. Aucklanders would be greatly disappointed if the decision to purchase the Studio becomes a trend setter for the new Council buying up a business portfolio,” concluded Mr Barnett.