Hornby Mall owners seek new builder
Mainzeal Property and Construction's collapse has left the owners of Hornby Mall to find a new main building contractor for the $47 million expansion after receivers said they would not continue it.
But the receivers of Mainzeal, Colin McCloy and David Bridgeman of PricewaterhouseCoopers, will finish another Mainzeal contract in Christchurch that is not far from complete - St Andrew's College new boarding houses and associated buildings.
The chairman of the company owning Hornby Mall, Neville Fagerlund, said he had been told by receivers late yesterday that they would not continue with the 2-year building contract.
The project had only just started, Fagerlund said, and was one of the biggest Mainzeal contracts in Christchurch.
It involved building a 6000 square metre Farmers department store and other speciality shops and Mainzeal's part was worth almost half the $47m project.
Fagerlund said he already had several expressions of interest from other building companies wanting to pick up the contract and he expected the work to resume soon.
At the same time the company would contract directly with some subcontractors.
Hornby Mall is owned by Shopping Centre Investments which has about 150 mainly Canterbury shareholders.
St Andrew's College general manager David Evans said he had met the receivers this morning and they had indicated they would complete the contract.
There was about eight weeks work left to finish a common room, administration block, three garages and site work.
Evans said the school had to work with the receivers over how the remainder would be completed.
Receivers would probably negotiate with the subcontractors who had been working on the site.