NPT says quake damage not severe, Eastgate Mall still closed

Tuesday 1st March 2011

Property investor National Property Trust says most of its Christchurch properties appear to have escaped major damage from last week's earthquake, although its Eastgate Shopping Centre remains closed.

The raised carpark at Eastgate is likely to be demolished, but damage to the rest of the centre on Linwood Ave, in eastern Christchurch, appeared less than initially feared.

The building had been inspected by structural engineers and some businesses could be back in operation over the next few weeks, dependent on council consent in some cases, trust general manager John Crone said.

However, it had been difficult finding the services needed to get the centre back in operation.

The 70-store shopping centre had full insurance cover, including income replacement for up to two years.

Natcoll House, within the central city cordons, has yet to be inspected but there did not seem to be any external damage and no reports had been received of injuries to tenants.

The Avonhead and Hornby shopping malls sustained superficial damage and have reopened. Businesses selling essential supplies, such as Avonhead's Countdown supermarket, had seen heavy demand.

A building in Print Place, to the west of the city, suffered minor cosmetic damage and was open.

"We are pleased that the majority of the trust's properties appear to have come through the earthquake relatively unscathed and that the Eastgate Centre is not as badly damaged as first feared," Crone said.

NZPA

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