Guardsman sale negotiation

Press, 8 November 1980, Page 7

Guardsman sale negotiation

The management of the Guardsman Restaurant in Armagh Street has changed hands. Mr lan Kerr, the owner of Warner’s Private Hotel, has leased the restaurant and is negotiating with Mr F. J. H. Visser to. buy the business. Mr Visser, who established the Guardsman in 1969, said he had bought the Picton Motor Inn, owned previously by Waitaki N.Z. Refrigerating Ltd. A sale of the Guardsman will end a long association for Mr Visser with the restaurant and accommodation businesses in Christchurch, which began in 1965 when he bought the Malando Restaurant in Colombo Street. At one stage, during the early 19705, Mr Visser owned tha,t restaurant, as well as the Grenadier and

j Guardsman restaurants, i Warner’s Private Hotel, the I Duvauchelle Hotel, and the restaurant and catering busif nesses at the Christchurch > Town Hall and Queen Elizas beth II Park. Mr Visser said he had sold the only other business - he had retained until now, a i farm at Ohoka, for the move 3to Picton. He declined to i give the purchase price but . said the Motor Inn’s Government valuation was $1.5 mil1 lion and its total insurance i value was $2.2 million. In 1975 Mr Visser sold the i Warner’s hotel business to , Mr Kerr. i Mr Kerr said he was now - managing the Guardsman. Settlement of the restau- } rant’s sale had not gone r ahead last week as hard 3 been intended and no new i date had been set.