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Annual Report 2010 - Christchurch City Council

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p184.<br />

<strong>Annual</strong> <strong>Report</strong><br />

<strong>Christchurch</strong> Otautahi<br />

<strong>2010</strong><br />

Financial statements<br />

Non-current assets held<br />

for sale<br />

Notes to financial statements<br />

18. Non-current assets held for sale<br />

Parent<br />

Group<br />

30 Jun 10 30 Jun 09 30 Jun 10 30 Jun 09<br />

Actual Actual Actual Actual<br />

$000s $000s $000s $000s<br />

Land held for sale - - 2,761 -<br />

Other assets held for sale - - 1,080 -<br />

Town Hall assets and other land - 35,360 - 584<br />

Total amounts held as classified for sale - 35,360 3,841 584<br />

On 31 March <strong>2010</strong> the <strong>Christchurch</strong> Town Hall assets ($33.5 million)<br />

were sold to Vbase Ltd (a wholly owned <strong>Council</strong> subsidiary).<br />

<strong>Council</strong> approved this initiative following a consultation process as<br />

part of the Long Term <strong>Council</strong> Community Plan 2009-2019.

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