Demolition date drawing near for D.I.C.?

Press, 1 December 1978, Page 1

Demolition date drawing near for D.I.C.?

Four parties have shown interest in the D.I.C. building and site in Cashel Street, according to the company’s secretary (Mr W. Dunbar). The 85-year-old building is likely to be demolished, whichever party buys the site. An announcement on the site’s future would be made in a “reasonably short time,” Mr Dunbar said in Dunedin yesterday. Details of negotiations would be kept confidential until then. “When you are talking in seven figures you do not want to prejudice the arrangements,” he said. Mr Dunbar said that two parties were particularly interested in the site and were likely to have the

building demolished. Two other parties were also interested, but would probably use the building briefly for retailing. He declined to sav whether the interested parties were Christchurch companies. Whichever party obtained the site, however, would have to consider the plans for a pedestrian mall in Cashel Street and High Street. Mr Dunbar said that that was one of the site’s advantages. The three-storev building is locked, and all trading is done next door in the D.1.C.-Beath's store. All stock was removed from the building in August. ex« cept displays in the groundfloor windows.