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Sell it Off

by Whaleoil on May 29, 2012

ᔥ NZ Herald 

Here is another asset for selling off.

With a total value of $1.4 billion, the University of Otago’s assets are worth more than any other university in New Zealand, figures from the Tertiary Education Commission show.

TEC figures comparing the financial performance of each of New Zealand’s eight universities show that at the end of last year the net value of Otago University’s assets stood at $1.41 billion, ahead of the University of Auckland ($1.37 billion).

The institution with the next highest asset value was Massey University ($943 million).

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  • The Bella

    Is that the uni with no fees ? jumping Johnny Key will have the think tank rumbling in the finance ministers rooms this arvo mate.

    • rolla

       No, no uni has no fees. SIT (a polytech) has zero fees, funded by the local community.

  • rolla

    Most of that, is made up of Otago uni’s purchase of property in Dunedin, not all of which they use for uni purposes. Its the only thing that keeps the Dunedin commercial property market at a reasonably high level.

    Otago doesn’t need any govt funding, it has plenty of money to buy up all the student bars around the area, so if it can afford to buy them, then its getting too much funding from the govt. Steven Joyce needs to tell Otago, that its funding is going to be cut by approx $1.5 million a year (about what the paid to buy the gardies tavern), for the next 10 years, and no they can’t raise fees at all in that time either. Would send a strong messages to uni’s to stick to what they do, and to stop playing social engineering.

  • Vlad

    I note in another story that the Otago University Students Association has refused to join the GreyPower protest against asset sales, and plans to invest some OUSA finds in buying shares in SOE’s.   So it’s not all bad in Dunedin.

    • rolla

      Yeah but I read in the comments section of the ODT, that some are angry that OUSA hasn’t listened to them, and that apparently the real voice of students on campus, is the young labour/young greens, and no one elses opinion should matter.

      Pehaps VSM has worked then, and we now know the real reason why the left were so against VSM

  • Kthxbai

    Also, Otago has a strong biological science focus and has done since its founding – it has valuable science resources scattered all over the city. 

  • Johnbronkhorst

    So These universities have massive assets!!!!……Bought with….TAXPAYERS money. So the don’t belong to the university, they belong to US we didn’t have a say in their purchase, but sure as hell should have a say in their sale!!!!

  • Kosh103

    So not only make higher education only for the rich, but flog off our Unis as well. Good lord cam I know you have an irrational dislike of teachers but this is plain stupid.

  • Jalharper

    My god that puts the deficit into perspective doesn’t it!.  We are fricken borrowing $10billion this year (in a zero budget year right).  That’s six’ish Otago Universities on the nationwide visa in one year.  Holy shit.  

  • http://pulse.yahoo.com/_OK7Y7PCSTJ27RCKZ2MGRSAYCTE NEIL

    Misuse of the word worth – you mean they’re valued at – there is a heap of difference – just ask the Christchurch folk.

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