Auckland Council is denying reports it is selling its freehold ownership of the Britomart precinct along the city's waterfront.
The New Zealand Herald said a deal between the precinct's developer Cooper and Co and the council was only months away.
But, the council's chief executive Stephen Town said it was in discussion with the company about a whole range of topics, but it has not decided to sell its interest in Britomart.
He said any decision would need to be approved by the governing body.