Forsyth Barr building may be repaired

No decision yet on future of Forsyth Barr

MARTA STEEMAN
Last updated 07:31 24/12/2012

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The Forsyth Barr building's owners have not yet made a decision to demolish or repair the high rise across from Victoria Square.

Sources in the construction sector said it was likely to be demolished, but Peter Rae, a director of the company that owns the building, said that was "getting ahead of the game". He said it had been a long, involved process and the company had only just completed an engineering and scoping exercise and now had estimates for repairs or rebuilding, the two options.

Those had been submitted to the loss adjuster working on behalf of the insurer. They would be testing the process and technology by which the estimates were arrived at.

"It will be well into the new year before they respond with their view on that," Rae said.

They were gathering all the facts and figures and Rae hoped a decision on whether to demolish or repair would be made in February or March.

The owners of the building are mainly from Canterbury. John and Melinda MacFarlane and Rae are the two largest shareholders of the company.

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- © Fairfax NZ News

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