Council votes to keep all assets

The Christchurch City Council has decided not to advance the development of a business case for expanding CCHL's mandate, allowing for more investments, potentially reducing rates.

The proposal could have also meant that Christchurch Airport and Lyttelton Port could have been partially sold off.

Instead, the focus will be on enhancing portfolio returns through more robust capital management and operational efficiencies.

This decision was informed by a detailed letter from the Chair of CCHL, which presented various strategies for increasing the long-term value and sustainability of dividends provided to the Council.

Mayor Phil Mauger noted that the previous Council had initiated a review of CCHL's objectives and purpose, exploring ways to augment its support to the city.

"Our assets have the potential to deliver significantly more value," said Mayor Mauger.

"The investigations conducted so far have provided us with a clearer understanding of CCHL's current standing and its portfolio, as well as a viable approach to enhance returns without altering CCHL’s fundamental mandate or operational framework."

Mayor Mauger highlighted the city's responsibility in managing its substantial investments over the past three decades, emphasising the importance of preserving public interest in sustainable, accessible, and affordable economic infrastructure assets.

Following a closely contested debate, the Council decided against continuing the business case.