Wellington City Council's seeking external support on its airport shares sale

Councillors agreed at the end of May to sell its 34 percent stake in the airport, to set up an investment fund.

Further discussions on the sale will take place in December.

The council says it's looking to achieve maximum value as it invites applications to sell the shares and set up the fund - separately.

Applications for the fund state it will serve as insurance in the event of a natural disaster.

Procurement details suggest it'll deliver significant benefits to the city and will build what it calls intergenerational wealth.