20 Feb 2014

Council to review commercial assets

3:35 pm on 20 February 2014

The Christchurch City Council is to spend $100,000 on a review of its commercial assets.

The council is about $2.5 billion in debt and has appointed corporate advisory firm Cameron Partners to review the commercial assets of investment arm Christchurch City Holdings Limited.

The terms of reference include a financial review of council-controlled organisations and their ability to generate cash and capital.

Raf Manji, chairperson of the council's finance committee, says the findings will be fundamental to the earthquake-hit city's ability to meet its share of funding the rebuild.