Decision on new HQ soon

Press, 23 February 1989, Page 6

Decision on new HQ soon

By

PAM MORTON

The Railways Corporation hopes a decision on its new Christchurch railway and road services headquarters will be made in the next few weeks. Railways’ Christchurch property manager, Mr Grant Ancell, said negotiations were being held between the corporation and a city developer regarding a site. Mr Ancell said Moorhouse Avenue was the most obvious site as it was central to the city and bordered the railway. Railways propose to lease headquarters, Mr Ancell said. “We are better putting our money into rolling stock rather than buildings.” Leasing was a departure from when Railways owned everything. The corporation’s Road Services depot in Victoria Street will be put on the market as soon as the details are finalised. The site will be offered either through an agent or by auction. It does not have a current valuation. “About 12 months ago we were offered $5 million for the site but we could not vacate it in time so had to turn the offer down,” said Mr Ancell. Tenders for the Bha Christchurch Railway Station site are due to close on April 28. The property was first offered for redevelopment in December, 1987.

Agents for the sale of the property are the Auckland branch of an Australian marketing firm, Richard Ellis and Company. The firm’s New Zealand managing director, Ms Michelle McKellar, said the site was being offered for sale in both New Zealand and overseas. There had been a reasonable amount of interest in the site by developers in Australia and Japan, she said.

“There has also been quite strong interest from a few major New Zealand groups, which is very encouraging.” Developers were looking at the site for multiusage, incorporating shopping facilities with something else, Ms McKellar said.

The site is valued at more than $2O million.