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Discussion Starter #41
Here's a picture I found on the Courtenay Central website, I guess they're redeveloping their main building but I don't know what they've got planned for the two vacant sites - hopefully something good. It's got the countdown logo on the side of the building so they're obviously still in (as Greenwelly's last post suggested). Also, according to the website it is "currently undergoing an extensive redevelopment programme" so maybe they've started already, though I haven't seen any resource consents for it.
Nah, there is nothing going on here in the immediate future, so any images are likely to be subject to change....

This was from an investor presentation last week, (page 18)
http://www.readingrdi.com/wp-content/uploads/2018/05/B.-Riley-Conference-May-23-2018-Final.pdf

Continued success with the courtyard, a unique pop up Food and Beverage concept, which continues to draw in customers and sustain our centre during our planning transition. During 2018 our goal is to continue exploring all possible opportunities for out centre in order to maximise shareholder's value.
 

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^^ Although that must be a render of the replacement carpark building on Tory Street (pg 18). A clear improvement on the original. Being optimistic with the street surface though.
 

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Discussion Starter #43
^^ Although that must be a render of the replacement carpark building on Tory Street (pg 18). A clear improvement on the original. Being optimistic with the street surface though.
Yeah, I am presuming that it where that aspect is,
[although its also a lesser possibility that it could be an expanded Wakefield street frontage, ( the barrier arm would correspond with the entrance to the current dockway.) - along with the deathwish cyclist :)
 

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They do seem to be rather undecided about what they're going to do. One of the things that caught my eye was the mention of a hundred-bed hotel and considering it would be over the road from the possible future convention centre, it makes sense. But I think what we can say for sure they'll do is redevelop their current centre, build a carpark building with retail on the bottom, and build a 'premium' Countdown, possibly with more retail. There was also mention of operating their 'arthouse' cinema brand in the centre (similar to Lighthouse I guess).

Here's the renders I've seen:



 

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Yeah the whole area could definitely use some more retail considering the population boom in the area. Something other than restaurants and bars of course!
 

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Man it would be nice to get a timeframe for that... Courtney central is such a large anchor for that part of town, it would be great to see some life being pumped into it.
 

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Wellingpalmyan
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No shortages of plot twists on this Readings site. I wonder if this will change the development plans.
I think it should probably speed things up actually or at least advance the need for a complete redevelopment of the current centre and then on to staged developments of the surrounding land.

I guess it's safe to assume that some form of remediation will be required: how complex this work turns out to be is obviously unknown to us, but however complex, it seems to me that the owners will view it as an opportunity to go full steam ahead with their redevelopment plans of the current centre - which will then necessitate the development of their surrounding properties.

The other scenario is that the building will need to be demolished which would open up further redevelopment opportunities. This scenario seems far-fetched at the moment, but we might find that Reading will come to consider that complex strengthening of what is really only a rudimentary building is too much to ask and, therefore, demolition might be seen as the quickest way out.

But I think with the news a few weeks ago that the convention centre is going ahead, Reading were gearing up to pursue the wider development plan anyway (although they were probably waiting to see work starting on the convention site just to be sure). But I think the news today with regards to their building will make them to go back to the drawing boards and while this might hold things up initially, the fact that they have now been forced to act will hasten things up in terms of the wider development.
 

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Wellingpalmyan
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I laughed when I read that people who had already purchased tickets could redeem them at Reading Porirua...have these people never heard of refunds?


I wouldn’t get a refund if there was a movie I wanted to watch, a place I could go to watch it and I already had a ticket. Possibly some in the Southern suburbs may opt for a refund due to the number of PT transfers they’d have to make to get to Porirua.
 

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Wellingpalmyan
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I think it should probably speed things up actually or at least advance the need for a complete redevelopment of the current centre and then on to staged developments of the surrounding land.

I guess it's safe to assume that some form of remediation will be required: how complex this work turns out to be is obviously unknown to us, but however complex, it seems to me that the owners will view it as an opportunity to go full steam ahead with their redevelopment plans of the current centre - which will then necessitate the development of their surrounding properties.

The other scenario is that the building will need to be demolished which would open up further redevelopment opportunities. This scenario seems far-fetched at the moment, but we might find that Reading will come to consider that complex strengthening of what is really only a rudimentary building is too much to ask and, therefore, demolition might be seen as the quickest way out.

But I think with the news a few weeks ago that the convention centre is going ahead, Reading were gearing up to pursue the wider development plan anyway (although they were probably waiting to see work starting on the convention site just to be sure). But I think the news today with regards to their building will make them to go back to the drawing boards and while this might hold things up initially, the fact that they have now been forced to act will hasten things up in terms of the wider development.


That’s the big question really, at what point is it just easier to start from scratch.
 

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There's been a few new developments on this:

The Council have tried to get more information out of the centre's owners, who have so far refused to even answer whether it is safe enough for pedestrians to use the surrounding footpath let alone answer any other questions put to them. Apparently there is no legal obligation on the part of the owners to disclose this sort of information: https://www.stuff.co.nz/dominion-po...om-owners-of-closed-wellington-cinema-complex

However, they have made verbal assurances to Council officers that the Courtenay frontage it is safe.

I really wouldn't be surprised if the building ends up being demolished.
 

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It would look really REALLY bad on them and the WCC would hit the roof if it turns out the frontage wasn't safe this whole time! So I wouldn't be surprised if Readings is trying to demolish it as fast as possible.
 

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Discussion Starter #60
Ok What is actually happening down there...

https://www.radionz.co.nz/news/nati...-courtenay-central-complex-tenants-to-move-on

Tenants based in Wellington's Courtenay Central complex have been told they can end their contracts, because it is unclear when the building will re-open.
So well as good,
The issues with the third floor were not a result of damage from the 2016 Kaikōura earthquake. Then, the complex was closed over fears the parking building behind it could collapse. That parking building was demolished.

The city council, like Readings, was waiting for the engineer's report to be finished, the council's business relations manager Phil Becker said.

Readings only needed to tell the council the result of the report if there was a public safety issue, which he said was unlikely as the building was empty.
Err, If this is not earthquake damage, then the implication is that its an existing problem with the building that the WCC signed off on when it was built....... and WCC say they only need to be told if there is a public safety issue, if its an existing fault, then surely WCC need to know as they likely signed it off when it was built......

Or is there some other cause of this problem that we are not being told about...
 
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