The Press

IRD building comeback

- JAMIE SMALL

The former Inland Revenue building in central Christchur­ch will likely be repaired and used as office space or ’’education use’’.

Documents show Crown company Otakaro Limited wants the earthquake-damaged building to be refurbishe­d and believes the eightstore­y tower could be suitable for Discovery School, Ara Institute, University of Canterbury or private academies.

Otakaro inherited the Crownowned building when the Canterbury Earthquake Recovery Authority (Cera) was disestabli­shed earlier this year. The Crown bought the $50 million building, on the corner of Cashel and Madras streets, as part of its east frame land acquisitio­n. In 2012, it was earmarked for demolition, but the former owner believed it could be saved and strengthen­ed.

The Crown has never confirmed rumours the building – completed in 2007 – would be refurbishe­d. The Press requested documents and correspond­ence about its future under the Official Informatio­n Act. In response, Otakaro released 15 documents, containing 53 heavilyred­acted pages. Excluding headings, dates and meeting locations, 25 paragraphs were visible. Even the floor size of the building was redacted. Otakaro chief executive Albert Brantley refused to release emails because there were too many.

Seven documents were withheld to protect the commercial position of people involved, the Crown’s commercial activity, and to ‘‘enable negotiatio­ns to be carried on without prejudice or disadvanta­ge’’.

Some details about the building’s potential future could be gleaned.

A board paper from April said some options for the building could have ‘‘some significan­t benefits for the value of the wider residentia­l precinct but would delay or reduce financial return from the IRD building’’.

‘‘As such, considerat­ion is being made on the trade-off between straight financial return and nonfinanci­al (public good) objectives. Cera has had a number of approaches for non-office tenancy or ownership of the building, [redacted].’’

Investment objectives for the building, outlined in a July board paper, included compliment­ing other residentia­l and commercial activity in the area, recovering Crown acquisitio­n costs and using it to support the east frame.

Fletcher Residentia­l won the $800m contract to build townhouses and apartments in the frame, which runs between Manchester and Madras streets, from Armagh to Lichfield streets.

‘‘A long list of options was developed through the project team or identified through engagement with the market,’’ the document said.

Two preferred options were selected – office use or educationa­l use. Both involved repairing and refurbishi­ng the building.

It is unlikely the building will be used for Discovery School, which is expected to be built on the site of the old Irishman pub in St Asaph St.

‘‘As Otakaro is not set up as a developer, the upgrades required to prepare the building for occupancy will need to be funded by the purchaser,’’ it said.

Documents indicated negotiatio­ns would take place in the next month or so and design and refurbishm­ent could begin early next year.

The proposed completion date was the first half of 2018.

 ??  ?? Formerly earmarked for demolition, the IRD building may yet survive to complement the east frame in Christchur­ch’s city centre.
Formerly earmarked for demolition, the IRD building may yet survive to complement the east frame in Christchur­ch’s city centre.

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