CIVIC CENTRE FOR CHRISTCHURCH

Press, Volume LXXXV, Issue 25735, 22 February 1949, Page 6

CIVIC CENTRE FOR CHRISTCHURCH

Estimated Cost of £500,000 CITY BLOCK TO BE BOUGHT Preliminary steps for raising a loan of about £500,000 for n civic centre, including a town hall, for Christchurch were authorised by the City Council last evening. Before any money is raised a poll of ratepayers will have to be taken. The land to be taken by the council is all the land in the. block bounded by Worcester street, Manchester street, the west side of Latimer square, and Gloucester street except the Worcester street frontage between Manchester street and the Automobile Association building.

Fifteen properties are to be taken over by the council and it is estimated that the land will cost £125,000. A new office block is estimated to cost £120,000, a town hall £200,000, a banqueting hall £15,000, the modernising of the Civic Theatre £15,000, and the development of roads and gardens £lO,OOO.

Stages for developing the project were given to the council by the City Engineer (Mr E. Somers). They were first the buying of the land, then the building of an office block on the Gloucester street frontage, then the erection of a town hail and banqueting hall, and finally the remodelling of the Civic Theatre. The Gloucester street frontage, particularly towards Manchester street, is considered the best locality for the extension of the office block. It permits all the office accommodation to be closely grouped and retains the council chamber and committee rooms primarily in the present building, and, possibly, next to this building at the back of the town hall. The initial size of the new office block will depend largely on the findings of the Local Government Commission. It may extend from Manchester street, to the Trades Hall. It is thought possible that if the Automobile Association’s building and the 1 Trades Hall are bought the Trades Hall’s tenants could temporarily be housed in the association’s building, which is being vacated. The City Treasurer, Mr J. W. Niven, reported that the annual charges on a loan of £500.000 at 3$ per cent, for 35 years would amount to £24.125 for interest and sinking fund This would require a rate of slightly less than a half-penny in the £ (or on a property with an unimproved value of £5OO, £1 0s 2d) to meet the charges. The current year’s rate for general interest charges was estimated to produce £38.383 17s Id. and repayments of loans during the current year would reduce this figure by £4270 next year. The rate would remain at approximately the net figure of £34,113 until March 31, 1955, when a reduction of £27,148 would be due because of the maturing of the conversion loan. By October, 1960, a further reduction of more than £5OOO would have become effective with the maturing of other loans.