Sharechat Logo

NPT says quake damage not severe, Eastgate Mall still closed

Tuesday 1st March 2011

Text too small?

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.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Delegat Group Limited (NZX: DGL) $333 million syndicated bank facilities
7th December 2021 Morning Report
Sky Network Television Limited (NZX: SKY) Transformation accelerates - Sky raises FY22 guidance
PGG Wrightson Limited (NZX: PGW) FY22 Operating EBITDA forecast to better last year
Vulcan Steel Limited (NZX: VSL) Trading Update & Earnings Upgrade
6th December 2021 Morning Report
Synlait Milk Limited (NZX: SML) Partnership to enhance soil health; test regen ag practices
Property for Industry Limited (NZX: PFI) Strong Valuation Outcome, Penrose Acquisition
3rd December 2021 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra provides Milk Price, earnings and Q1 update