Property settlement at CentrePort

The port is to now demolish the former Bank of New Zealand building (image is of CentrePort Wellington in 2009) Photo: Maritime Union of New Zealand/flickr/CC BY 2.0 The port is to now demolish the former Bank of New Zealand building (image is of CentrePort Wellington in 2009) Photo: Maritime Union of New Zealand/flickr/CC BY 2.0
Industry Database

CentrePort Wellington has reached a NZ$170m settlement with insurers in relation to commercial properties damaged during the 2016 Kaikoura earthquake.

Having previously demolished several buildings damaged by the 7.8-magnitude event — including Statistics House, Shed 35, Shed 37, the Dimond building, the MSC building and the former NZ rugby union building — the port is to now demolish the former Bank of New Zealand building.

Welcoming the settlement, CentrePort chief executive Derek Nind said the port is focusing on the ongoing regeneration of its business and strengthening land holdings where necessary to facilitate key shipping services.

Describing the business as now entering a “new chapter”, he said developing Harbour Quays is an “integral” aspect of positioning for the port’s current growth trajectory.

“We need a larger footprint as we work through our regeneration plans and reconfigure our land and berth capability,” he said.

The commercial properties claim is a separate one from that involving port infrastructure, which CentrePort and insurers continue to work through.

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