Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


The Terrace Project: An Update

The Terrace Project: An Update


The Terrace project in the heart of the CBD of Christchurch is a major undertaking for Hereford Holdings and Antony Gough.

“We always knew it would be because it is one of the first big ones in the private sector in new post- earthquake world of Christchurch. Any commercial development in the CBD is challenging in the new post- earthquake era,” says Antony Gough.

“There is continued serious interest from potential tenants. Because of that we need to constantly check that what we are proposing will work for them including the staging of the project and timing. And as with any development, we need to constantly look at costs and identifying any opportunity to make the project more financially robust.”

“There is no debt on this project to date.”

“There have been some additional costs in this first stage and signs that the project could cost more than originally estimated. Now is a logical point to pause, look at the design options again against market demands and also supply chain costs, options and efficiencies.”

“As everyone knows, I have a huge personal commitment to the CBD of Christchurch and I’ll always be one of our city’s biggest fans and supporters – I love the place and want to see us thrive again and we will. I was big and brave and bold enough to kick off this project but I am also big enough to say, actually stage one won’t be completed by Christmas necessarily.”

“I know that it is the right thing to do to pause, take another look at all aspects of the project before starting the next stage. This is normal business practice and is particularly important in the Christchurch market which is very dynamic and has many complicating factors to be considered at all stages such as tenant mix and supply chain costs.” There will be no pause though on Antony Gough’s passion and vision for the city and in particular forThe Terrace project - a world-class development that is leading edge in terms of design and safety and is also financially robust.

[Ends]

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Court Ruling: Kiwifruit NZ Ordered To Consider Collaborative Marketing Proposals

The High Court has told kiwifruit marketer Zespri to reconsider collaborative marketing proposals from Splice Fruit and Seeka Kiwifruit to sell fruit offshore that its board had previously rejected. More>>

ALSO:

Electric Vehicles: No Road User Charges Feature In Govt Package

Drivers of electric vehicles won't have to pay road user charges and will be allowed to drive in bus lanes as part of a new government plan to double EV numbers annually to a target 64,000 by 2021. More>>

ALSO:

Pre-Budget: Computer Emergency Response Team, Assemble!

John Key told the country's first ever Cyber Security Summit in Auckland that the government had earmarked funding set up a national Computer Emergency Response Team to help prevent and act on cyber incidents in partnership with the private sector and other organisations. More>>

ALSO:

Job Cutter Goes: Mark Weldon To Step Down As MediaWorks CEO

“When I joined MediaWorks in August 2014, I had a mandate to lead a significant change programme to bring the business back from receivership into a position where it could once again be a strong competitor in the market, with a sound and sustainable future. It was a big brief, laden with inherent challenges, but I took it in good faith and have dedicated myself fully to the goal since." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news