by The Landlord
The Government has announced it will exempt farm buildings from the requirement for owners of buildings to upgrade them to national earthquake standards or demolish them within 20 years.
BusinessNZ chief executive Phil O’Reilly said it highlighted the unnecessary burden being placed on all building owners affected by the requirements.
“In the wake of the Christchurch quakes, earthquake-vulnerable buildings are already prompting safety concerns and higher insurance premiums. These market responses are already leading to building owners upgrading or demolishing them. There is no need for a regulatory requirement on top of this. Owners of older buildings in smaller centres will be particularly hard hit by the cost of this policy. It could lead to many buildings, including heritage buildings, being demolished needlessly.”
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