RSA Christchurch Headquarters and Restaurant for sale after liquidation
John Kirk-Anderson / stuff
The RSA Christchurch Memorial Headquarters on Armagh St will be sold.
The financially troubled RSA Christchurch has put its headquarters and restaurant up for sale.
The Christchurch Memorial Returned and Services Association (RSA) opened the $ 5.8 million building, including Trenches Bar, Restaurant and Reception Center, on Armagh St in 2015.
He closed the trenches four years later due to weak patronage and continued financial losses.
The RSA put the Trenches holding company into liquidation last year with significant debts. The company owes money to Inland Revenue and other creditors, as well as to RSA itself.
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Last year, RSA owed ANZ Bank $ 1 million and its Museum and Support Trust $ 775,000 after borrowing much of the insurance payment from the trust intended to repair the 29 social housing units it she owns in Aranui.
The liquidation sparked allegations of mismanagement and a mail-in ballot that saw 95 percent of members vote for the property for sale.
Dennis Mardle, who took over as RSA chairman last October, said they had no choice but to sell.
“We are facing significant financial difficulties, so it is absolutely necessary to sell in order to be able to improve our position.”
Mardle said no decision has been made on where the RSA will be based once the building is sold.
“As long as we don’t have the money in the bank, we can’t make any decisions,” he said.
Last year, charities expert Michael Gousmett filed a complaint with the charities regulator Charities Services about Christchurch RSA’s use of home insurance money. social.
Charities have since told Gousmett that his complaint was put on hold due to a police investigation.
Police refused to confirm to Thing whether the association, or its related charities or holding companies, are or have been the subject of an investigation.
Mardle declined to comment on the complaint or the outcome of investigations he conducted into the sale of RSA-owned artwork prior to assuming the presidency.
The association last filed an annual financial report in mid-2018, according to Charity Services records.
Realtor Noel Gilchrist of Colliers, the company selling the property for RSA, said her “current situation” meant she would consider all offers from potential buyers.
The two-story building was designed by architects Warren and Mahoney, replacing the original 1920s premises damaged by earthquakes. The restaurant and venue were expected to provide income for the association.
The project was partially funded by the sale of the end of the property on Gloucester Street, which had been used for parking cars.
The Colliers ad says the property, which is sold vacant with wanted offers by June 24, is fit for a full conversion.
The site’s connection with returning soldiers dates back over 100 years to WWI. Public donations helped cover the £ 13,000 cost of building the first permanent soldiers’ clubs on the ground after the war.
Bejon Haswell / stuff
Demolition began on Tuesday.