REBUILDING OF BANK

Press, Volume CI, Issue 29724, 18 January 1962, Page 16

REBUILDING OF BANK

Minister Agrees To Priority Priority for the rebuilding plans of the Bank of New Zealand in Christchurch was promised by the Minister of Finance (Mr Lake) when he met the Christchurch City Council works committee yesterday.

The works committee’s request that the rebuilding plans be speeded up to enable the setting back of the Colombo street frontage 7ft was a most reasonable one, said Mr Lake.

The meeting was attended by the Mayor (Mr G. Manning) the chairman (Cr. A. R. Guthrey) and members of the works committee, the chairman of the council's town-planning committee (Mr W. P. Glue), the City Engineer (Mr E. Somers), the Town-Planning Officer (Mr J. Foster) and the manager of the Christchurch branch of the Bank of New Zealand (Mr W. L. J. Travers). “The point we have made is that the Bank of New Zealand is starting work on a new four-storey building behind the present singlestorey building," said Cr. Guthrey, chairman of the works committee. “From the point of view of easing traffic congestion, remodeling the Square, and aesthetic appearance generally, now is the time to remove the old single-storey bank building, and rebuild over the whole area, in two stages. Five-Year Project

“As soon as the new building is finished, the old one should be demolished by this means, the whole bank corner could be rebuilt in, say, five years, by which time the new Government Life Insurance Building will also be built,” said Cr. Guthrey. “This would improve the aesthetic appearance of the Square, and ease the traffic situation." The Bank of New Zealand had envisaged replacing the present single-storey building in 10 years’ time, but the works committee’s request was a most reasonable one, said Mr Lake. Priority for the bank's rebuilding should be set up, and he would take up the matter with the directors of the bank, he said.