CCDU has purchased One property…. thats Progress for them…

Locked out of Undamaged building: 698 days

Do we still own our building? 171 days  ( 4 1/2 years to go)

Believe it or not, we made some progress last week.  We now have a repaired concrete floor in the downstairs shop area.  Hard to get excited about eh!  The roofer is AWOL so we can not get the ceilings or wooden floors repaired until he has been.  (The roof is still leaking.)  And so we wait and wait and wait….  (This is a direct result of the Accredited contractor situation which is cumbersome and has slowed repairs.)

Interesting is it not the CERA closes the Red Zone from the 21 December 2012 – 7th January 2013.  Productivity????   Whats that?  Also Interesting that there has suddenly been discussion on the lack of productivity in the building industry. Mostly in regard to residential housing.

An overly conservative Engineering evaluation ????   I was in Okains Bay a few weeks ago and I notice that the old school hall has been red stickered.  Weatherboard and corrugated iron roof, single storey.   Hello????  Better pull down every house in Christchurch???  Link Here: http://www.stuff.co.nz/the-press/news/christchurch-earthquake-2011/8151530/Peninsula-communities-lose-heart

I  also had to laugh when I read in the Press about unhappy workers in crowded offices. Many people are having to commute across the city to the business parks near the airport to get to work. It is a slow and painful process getting across the city. The workers I have spoken too are very unhappy and many are looking for work closer to home. Link here: http://www.stuff.co.nz/the-press/business/the-rebuild/8215686/Workers-sick-of-overcrowded-offices

The lack of progress in even opening up the CBD area is a city-wide joke now.  The business people I have spoken too now just shrug their shoulders and say:  “get out of there.”  I wish I could.  The standard reply I get is a take on the Tui Bill Boards.

Recovery?   Yeah Right.

25.1.13 I have just had my first chuckle for the day!  After all the hype, and many months of negotiation, it appears that the CCDU has purchased one property.  As far as I can work out many are headed for court.  One could speculate that the process is obviously flawed. Given the way they have been handling the negotiations this really is a no brainer! One of the problems here is that the smaller land owners do not have enough funds to take them to court.  This is going to force many into a “fire sale situation.”

“Canterbury Earthquake Recovery Minister Gerry Brownlee released figures yesterday showing negotiations were under way to buy 177 of the 847 sites needed for the green frame and anchor projects. As well, one site has been bought, two sales agreements completed, 16 sale and purchase documents signed by owners and agreement in principle reached with 19 parties.” Link here: http://www.stuff.co.nz/the-press/news/8220927/Central-city-acquisitions-progressing-Brownlee

A very interesting piece in the Christchurch Press  about the benefits of lifting the earthquake-prone building threshold from 33% to 67%.  A British risk management expert, Tony Taig, argues that it is of questionable benefit. His argument is that “no building that had been strengthened to the 33% level or better collapsed and killed anyone in the Canterbury earthquake on February 22, 2011”.  Link here: http://www.stuff.co.nz/dominion-post/business/commercial-property/8213291/Little-benefit-in-lifted-quake-threshold-expert

I have been pondering the reasons for the decision by CERA to demolish most of the CBD Buildings rather than let them be repaired and strengthened.  The conclusion I have come to is that there must have been a high level meeting between some Engineers, Cera, the government (and others?) a few days after the earthquakes.  Someone has made a conscious policy decision to follow this path. The destruction of the infrastructure has been staggering.  I would like to know who was at this meeting and what justification they had to follow this path.   I think history will not treat them kindly.

Its a sunny day, its not shaking, so its got to be a good day.

Advertisements

3 thoughts on “CCDU has purchased One property…. thats Progress for them…

  1. Tony Gough please read: “The phrase ‘Uncle Tom’ has also become an epithet for a person who is slavish and excessively subservient to perceived authority figures, particularly a black person who behaves in a subservient manner to white people; or any person perceived to be a participant in the oppression of their own group”

    http://www.thepoliticalscientist.org/?p=1174

    And to the victors, the spoils – ‘business as usual’ in Christchurch

    It is within this context that land purchases have begun in the central city. Fascinatingly, two of the three lots of land to be purchased are owned by none other than Antony Gough – an unlikely first volunteer to take a financial bath. Yet, here he is positively galloping along the plank:

    Property developer Antony Gough became the first landowner to settle with the Crown when he signed over his Poplar Apartments site on Madras St for about half its registered valuation.

    Cutting his losses early would save money over time, he said. “If I let it go through to compulsory acquisition, they’ll take my land, I’ll continue paying rates, we’ll argue the toss for two or three years, spend a lot of money on legal fees and still get the lower price,” Gough said.

    He warned against banking on 2007 land valuations after being told by his valuer to “get a reality check”.

    Such pragmatic nobility, no doubt being modelled solely for the benefit of all of those smaller landowners Antony Gough holds so dear, makes one pause and wonder. But, after wondering a bit, it becomes clear that ‘cutting your losses’ when an enormous pot of gold waits for you at your other central city holdings – once you consolidate your assets – might not be as pragmatically inspiring as it first seems.

    http://www.thepoliticalscientist.org

    • Hi Bruce, thanks for your comment and link. I do rather like the politicalscientists blogs, very to the point (or is that the jugular.) He is saying much more eloquently than I what most of the small landholders in the city are thinking. A pity a few more of the land owners are not more vocal in their opinions. It would help our situation. But as you know the threats of reprisal are still a concern. There are many rumours swirling around the city about the CCDU process, some of them not very encouraging. There does appear to be some “horse trading” going on, as you refer to above.
      You must update us, when you feel you can, on how your land “confiscation” whoops- off course I meant “compulsory acquisition”- is progressing. We would love to publish how your meetings with the CCDU have been progressing. It might be of benefit to those of us who still have this process to come. And we do need a good laugh now and than
      There appears to be a lack of certainity for us in High Street as to if we will be acquired or not. This does not assist “recovery” as it does not provide certainity of tennancy. What retailer whats to go into a building that can not guarantee tennancy for the next 4 1/2 years and beyond??? By the time you do the fit out of the premises, you would barely have broken even in that time and be required to move again. Once again, it has not been thought through properly.
      Keep us informed! regards Nicky

    • Hi Bruce, thanks for your comment and link. I do rather like the politicalscientists blogs, very to the point (or is that the jugular.) He is saying much more eloquently than I what most of the small landholders in the city are thinking. A pity a few more of the land owners are not more vocal in their opinions. It would help our situation. But as you know the threats of reprisal are still a concern. There are many rumours swirling around the city about the CCDU process, some of them not very encouraging. There does appear to be some “horse trading” going on, as you refer to above.
      You must update us, when you feel you can, on how your land “confiscation” whoops- off course I meant “compulsory acquisition”- is progressing. We would love to publish how your meetings with the CCDU have been progressing. It might be of benefit to those of us who still have this process to come. And we do need a good laugh now and than
      There appears to be a lack of certainity for us in High Street as to if we will be acquired or not. This does not assist “recovery” as it does not provide certainity of tennancy. What retailer whats to go into a building that can not guarantee tennancy for the next 4 1/2 years and beyond??? By the time you do the fit out of the premises, you would barely have broken even in that time and be required to move again. Once again, it has not been thought through properly.
      Keep us informed! regards Nicky

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s