The government has announced it will give tertiary education institutions more control over how their land and buildings are managed, allowing them to provide better learning environments in the future.

New Zealand's public tertiary institutions manage Crown assets with a total value estimated at more than $1 billion.

Cabinet has agreed a plan which will make it easier for tertiary institutions to apply to sell those Crown-owned assets managed by them but no longer needed, or to have assets transferred into their ownership where they are still in use.

Tertiary Education Minister Steven Joyce says many institutions have more land than they use and buildings that are old and run down.

"This change will give those institutions the option of further developing their properties so they can invest in better buildings and facilities.

"The current rules around the management and ownership of these assets are confusing and have been applied inconsistently.  Institutions will now have more certainty about their long-term asset plans.

"It's also important that institutions have the opportunity to take legal ownership of assets that are central to their future educational provision.

"Tertiary institutions, like all state sector organisations, need to manage all their assets so that they get the most value from them. This means making the best use of assets required to provide quality education, and disposing of any assets that are surplus to their needs," says Mr Joyce.

For further information visit www.tec.govt.nz