WATCH: Live stream of the Auckland Council meeting where the future of the council's Albert Street headquarters will be discussed.

Auckland Council could help recoup the cost of major recladding work on its new central city headquarters by selling it, and renting it instead.

The former ASB Tower on Albert Street was bought for $104-million in 2012, but the council now faces a $31 million bill to fix cladding problems.

The council's finance committee will receive a report today showing the property is valued at more than $133 million but could sell for much more.

The council's finance committee will be asked to consider selling or partly selling council corporate properties across the city, which are together valued at more than $311 million.

Meanwhile, Auckland Transport expects to save $1 million a year by moving into the Vodafone Building near the Viaduct Harbour.