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Are the Christchurch City Council Ruining Christchurch?

by Whaleoil on February 18, 2012

The city council were warned about commercial property owners leaving if the council made the CBD rebuild uneconomic. They didn’t listen and now property owners are moving their capital out of Christchurch.

Fellow landlord Dean Marshall, a founder of the City Owners Rebuild Entity group, said lack of insurance for new builds and the actions of the Christchurch City Council were driving capital away.

“They [the council] just don’t get it, they think all the property owners make so much money but they don’t understand the numbers – they don’t have a commercial reality.”

Bob probably wants to progress with his daft monorail idea, at the expense of some quick solutions to the problem of council caused capital flight.

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  • Lindsay Addie

    I doubt if the majority in Chch really see the centre of town as a CBD any longer. Many (including yours truly) want to see it with less buildings and more walkways tree, etc. All the council want is to cram it with a new generation of buildings (no doubt many will be ugly) and take the easy way out.

    We’ve got by without a CBD for a year now already. There were far too many shops there before and the Govt departments are already voting with their feet and moving out to other parts of the city on long term leases.

    • Gazzaw

      Have to agree with you Lindsay. If the government departments and large corporates are moving to the suburbs then it follows that all of the small businesses such as cafes, drycleaners & others dependent on commuter and lunchtime trading will follow.

  • Hakim of phut

    Well they could follow your advice Whale and dont bother with a CBD, just like Moscow

    • @BoJangles

      Like Moscow, the Military could reclaim the deserted, flattened, concreted CBD, and build low-rise barracks there and practice their marching and brass band moves for the tourists.

  • Fozzie61

    Perhaps that is why Bob is in China – stitching up a ‘Crafar’ type deal for the city – they can buy all the land and buildings they like and they don’t have to live there !

    • @BoJangles

      But they would have to demonstrate first that they would enhance the CBD significantly greater than the CCC ‘s grand plan.

  • AnonWgtn

    There will be no insurance available in the CBD for a long time until there appears to be years of steady settlement, which is not currently occurring.
    As a former wholesale international insurance underwriter I know what it will take to give insurers wholesale cover, and that amongst other things is New Zealand payback over some years, and wobetide another serious New Zealand quake in the meantime. 
    The Christchurch loss is thirteen times the New Zealand annual premium income for Fire & General business.
    If you could, could you get staff back into the CBD – no bloody fear.
    Sadly Chrischurch CBD is a no go area for a very long time.

    • Hakim of phut

      AW, they had reinsurance did they not and the last 50 years of premium income in Christchurch. 
      Maybe we need a government owned insurance company ? 
      Cancel the deal to ‘give away’ AMI and keep it running under state control since we are paying for it anyway

      • Grumpy

        Do you nort understand anything???

        Anon was talking about NEW cover.  Insurers cannot offer cover without reinsurance and there is no way you can compel the huge foreign (mainly Swiss) reinsurers to do so – piddle arsed NZ government or not! 

      • @BoJangles

        Without hometown insurance, AW is on the money. CBD property owners haven’t the luxury to sit around for decades awaiting either NEW insurance or viable council consents.

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