Vote of faith in central city area

BEN HEATHER
Last updated 05:00 28/01/2012
Grenadier Harcourts' new building
KIRK HARGREAVES/FAIRFAX NZ
GOING UP: Grenadier Harcourts' Robert McCormack at the site on Madras St in Christchurch, where the company's new office is being built.

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Christchurch Earthquake 2011

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Robert McCormack is placing a $5.3-million bet on people returning to central Christchurch, with a new four-storey office block in the city's heart.

McCormack, the chief executive of Grenadier Harcourts real estate, was joined by his old school mate, Earthquake Recovery Minister Gerry Brownlee, and engineers and quake-recovery officials yesterday to watch the first 11-metre pile being drilled into a vacant section in Madras St.

The building will be built around a steel frame, with a glass frontage, and exceed the tough post-quake building code.

The site once housed two buildings owned by McCormack's company, Grenadier Properties, including the old Harcourts building, but both were demolished after the quakes.

It was the first multi-storey building to receive approval in the red zone, McCormack said, and was expected to be completed by Christmas.

McCormack said he owed it to the city to return, but admitted it was a commercial risk to rebuild amid the ruins.

"I think it's a risk worth taking, but there is a risk no-one else will build around us, that no-one else will want to take this space," he said.

Harcourts Grenadier staff will fill two-thirds of the building, but McCormack is seeking tenants for the first floor and ground-floor cafe.

The building is still awaiting final building consent, although consent for foundation work has been granted, and there is no guarantee of insurance.

"We've have had some troubles with insurance," McCormack said.

Concerns have been raised about a "flight of capital" from the central business district, with property owners buying elsewhere in New Zealand or overseas.

Property investor Sir Bob Jones argued last year that it was not financially possible to rebuild in the city centre.

However, several Christchurch property owners have started building, and many others are awaiting approval.

Work has started on the $25 million Latimer Hotel, and a two-storey building on the old Westende Jewellers site on the corner of Worcester and Manchester streets should be completed by mid-July.

Westende site developer Shaun Stockman, of KPI Rothschild, said tougher building codes had increased the building cost by $184,000.

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Cantabrians are being urged to submit their opinions on the rebuild of central Christchurch.

The Canterbury Earthquake Recovery Authority hopes that property and business owners, tenants and customers will give their views on the rebuild through www.centralcitystudy.org.nz.

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Cera acting chief executive Warwick Isaacs said there had been a good response so far, but it would like to hear from more people.

The central-city commercial property study would help authorities understand how Cantabrians wanted to see the central city rebuilt, he said. The survey will be online until mid-February.

- © Fairfax NZ News

20 comments
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Andrew   #20   11:10 pm Jan 28 2012

What a pack of nay-sayers. Without some sort of progress report from Christchurch to say that the processes are in motion to rebuld the city, the money will stop flowing, the big corporate machine will abandon Christchurch, people will lose their jobs, Christchurch will become a back water country hick town not worth saving.

Whatever your problems with the process you may have, suck it up and stay, or pack up and leave. Stop having your little whinge, it's getting a little tired. We all have the same issues, how you deal with it determines your ability to overcome the issues.

Christchurch / Canterbury will continue to have earthquakes, that is inevitable. New Zealand will always have earthquakes, snow, storms, floods etc. Learn to deal with it or bugger off.

Peter   #19   10:40 pm Jan 28 2012

Why don't all those who are so negative...Just Leave. Let the strong remain which would be better for Christchurch all round! Go and complain somewhere else.

Mark   #18   03:43 pm Jan 28 2012

You would need rocks in your head to go back to the CBD let alone stay in CHCH! Those so-called geologists only last month told you that the quakes/aftershocks or whatever they are being told to call them now said, that the western quakes (Darfield) were settling down and they were all but gone. Yeah right! 4.6 yesterday or was that just a train!!! Whose going to pay for the next round???

What, no photo of Bob?   #17   03:32 pm Jan 28 2012

Oh the irony of it being a real estate office with so many being unable to find somehwere to live, perhaps they can put bunks in!

Julie   #16   02:12 pm Jan 28 2012

I find this very encouraging. I, for one, am chomping at the bit to get back to working in the central city! Not only would I work in a four-storey building, I'd go back in a heartbeat to my own seven-storey offices. We're not all afraid.

beano   #15   01:03 pm Jan 28 2012

Could someone verify for me why residential homes in the red zone cant be rebuilt, but in the city they can. Lives were put at risk when they first built up the city, they had the info then. Then, after the September earthquake more lives were put at risk and lost thanks to the 'get back in the city asap' and the shoddy lazy building codes. Stop cutting corners, do it once, do it right!

Anna   #14   12:30 pm Jan 28 2012

#1 a survey has already gone out to most people who used to work in the CBD or know someone who does. Ive completed this survey and have no problem working in a 4 storey building. And yes i did used to work in the CBD so ive seen what can happen first hand. But we need rebuilds to move on. People need to realise that commercial insurance companies are different to residential ones, so putting a stop on the CBD rebuild isnt going to make your rebuild go faster unfortunately.

PW   #13   10:57 am Jan 28 2012

Ten points to The Press for trying to give some 'upbeat news', however, for those of us still living in this nighmare, we don't buy into this 'rebuild'. I'm sure tht there will be lots of photos taken in front of this building - perhaps in the hope that they can convince more people to pay the extra to build here. If the people in the east (and I also mean from Sumner, Redcliffs, Mount Pleasant and through to Huntsbury) are not sorted soon, there won't be many residents left to visit the CBD.

WJ   #12   10:55 am Jan 28 2012

A bit of PR here - 'it's all good here in ChCh - honest'. Sorry, we don't buy into it. While the people are still trying to recover, the city will not recover. It's about time that the CCC, EQC and CERA put all their energies into rebuilding the residents lives. Perhaps then, they would get excited about one building going up.

Heather   #11   10:53 am Jan 28 2012

I took CERA's survey, not as a tenant or an owner, but as someone who used to shop in the city. I wanted to be able to leave a comment or give a vote as to whether I would still be coming back to the city to shop (no way). I was able to do this and the survey simply took my vote as one of being happy with the city plan.


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