U.B.S. building agreement

Press, 2 December 1985, Page 4

U.B.S. building agreement

The proposed $l3 million office building for the

United Building Society at the south-east corner of High Street and Cashel Street- will now go ahead in its original form. Plans had been altered after an impasse in a disagreement between United and a lessee, Davis and Grant, Ltd, about the lack of a demolition clause in the lease agreement. United was going to build on the balance of the site and in five years, when the Davis and Grant lease expired, extend the retail and podium floors. Mr Tony Kunowski, United’s corporate affairs manager, said that the building would now \ (go ahead in the original

with all work being done at once.

Demolition would start in January next year. The building would be a twoyear project, he said. Mr Lyall Grant, of Davis and Grant, said he was happy with the agreement reached with United. A stock-clearing sale was being held now with items sold at cost price so that the shop could close on December 20 and move to temporary premises in Manchester Street about mid-January, he said? On June 1 next year, the shop would move to the new GST building in Cashel Street, opposite the United Building Society offices, said Mr Grant.