About the NZSPA#

The NZSPA is expected to be established in 2026 and will:

• have responsibility for planning, building, maintaining and administrating the school property portfolio
• be tasked with delivering property solutions on time and within budget, with strong commercial and governance settings that achieve value-for-money outcomes
• have a dedicated Board and leadership, with the commercial discipline appropriate to support informed investment decisions for the second largest social property portfolio in New Zealand.

Once the Crown agent is established, decisions on education policy, network and roll growth, including which schools will receive additional teaching spaces, will remain with the Ministry of Education.

During their announcement, Ministers Bishop and Stanford also announced the establishment of a Ministerial Advisory Group, which will provide specialist independent advice on the transition to the NZSPA.

This announcement is part of the Government’s response to the 2024 Ministerial Inquiry into School Property, which highlighted the need for more systemic changes to the school property operating model, including clear direction from an independent board.

Ministerial Inquiry into School Property – Beehive.govt.nz 

Implications for schools#

This announcement does not affect existing school property plans or projects, and our focus remains on delivering warm, safe and dry classrooms across the school property portfolio. For now, there are no immediate changes for schools or school boards while next steps are worked through.

Responsibility for education property and land will transfer to the NZSPA when it is established. Approximately 700 Te Kōhanga Reo and ECEs lease education property and land. We expect that existing terms and conditions will continue to be honoured and there will be minimal disruption to ongoing operations, with details being worked through in the establishment phase.

Schools and stakeholders will be updated by the Ministry as soon as more information becomes available.

Next steps#

The necessary work to establish the NZSPA ahead of legislation will be supported by an establishment unit, which will sit within the Ministry of Education and work with our stakeholders to get ready for transition to a new school property agency. Decisions also need to be made about how the Ministry and the NZSPA functions will work together.

Legislation to formally establish the NZSPA is scheduled to be introduced later this year. At this stage, implementation of the NZSPA is expected in 2026, subject to the legislation being passed and establishment milestones being achieved.

Read more about the next steps on the Beehive website.

New school property agency to be established – Beehive.govt.nz

Ministerial Advisory Group for school property#

Members#

Hon Murray McCully CNZM CF

Hon Murray McCully CNZM CF served as Minister of Foreign Affairs for eight and a half years and Member of Parliament for thirty years. Hon McCully is the Chair of Te Tai Tokerau Water Trust and Chair of Whangārei District Holdings Limited. He was lead independent reviewer for Ministerial Inquiry into School Property. 

Mark Binns

Mark Binns is the current Chair of National Infrastructure Funding and Financing Limited, and Director for Hynds Limited, Auckland International Airport and Mercury Energy. He is a former Chief Executive of Meridian Energy and led the company through the largest IPO in the country’s history. Prior to this, Mark was Chief Executive of the Infrastructure division of Fletcher Building.

Rick Herd

Rick Herd led Naylor Love to become one of the largest privately owned construction companies in New Zealand. Rick is known for raising industry standards and actively contributes to industry bodies like Registered Master Builders and Construction Health and Safety NZ. His is a Director of Port Otago Limited, ENI Engineering Limited, and Nelmac Limited.

Sarah Petersen

Sarah Petersen is a chartered accountant specialising in risk and governance in the Far North region. Sarah is a current Director and Audit Committee Chair for Tupu Tonu | Ngāpuhi Investment Fund, and the Deputy Chair/Audit Committee Chair for Far North Holdings, the asset management arm of the Far North District Council. She was previously the CFO for Cognition Education Group, a global education delivery and consultancy company. Sarah sits on the Board of the Chartered Accountants Australia and New Zealand.

Craig Stobo

Craig Stobo provides a high level of financial acumen combined with industry knowledge and governance experience. He has held numerous governance positions and is currently the Chair of the Financial Markets Authority, NZ Windfarms Limited, and the NZ Local Government Funding Agency. He previously chaired the boards of Precinct Properties and AIG NZ.