Kudos for investment-focused Recovery Plan for Christchurch
30 July 2012
Kudos from property industry for investment-focussed Recovery Plan for Christchurch
Christchurch property owners can finally breathe a sigh of relief with the release of a recovery plan that will facilitate investment and lure back businesses to its earthquake-ravaged city, according to industry advocate Property Council New Zealand.
Well thought-out, visionary precincts focussing on retail, health, entertainment and public sectors will give the city a new heart, said Property Council’s chief executive, Connal Townsend. “It is particularly great news that the city will not be moved, as this would have caused further delays which are not what they city needs right now.”
“As for the process from now on, we accept that the Crown has the power to compulsorily acquire land and we support Earthquake Recovery Minister Gerry Brownlee’s desire to negotiate in the first instance.
“The mix of creative ideas and practical needs shining through in the Recovery Plan are a positive sign and it is good news that it has been given a strong commercial focus. Property Council agrees with Minister Brownlee’s comment that this plan will enhance the economic value of the city.
“Although we have concerns about the compulsory acquisition of land at current market values, we are satisfied CERA and the Central City Development Unit will play fair during negotiations; we accept that the rebuild must begin as quickly as possible and acknowledge that if the normal process under the Public Works Act 1981 were to be followed, the process would be slow and expensive.”
Property Council is the voice of commercial property in New Zealand. It represents the interests of more than 600 companies nationwide, and in the South Island alone there are more than 100 companies who are considered members.