$5m deal to secure future of A&P Show

• Published date: 24 April 2024
• Publication title: Otago Daily Times: Web Edition Articles (New Zealand)

The council and the Canterbury Agricultural and Pastoral Association (CAPA) have both signed the agreement, which will open up more of Canterbury Agricultural Park for public use while helping to provide long-term certainty for the A&P Show

CAPA had a 100-year lease on five hectares of council land at 141 Wigram Rd, which has been surrendered as part of the agreement.

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The council paid $5 million for the purchase of the remaining 95 years of the lease.

Council general manager citizens and community Andrew Rutledge said the agreement benefits both parties.

"The A&P Show is such an important event for both the rural and local community, bringing people from around the country to our city," he said.

"This agreement will support the future of the Show and the surrendering of the lease will allow us to use part of the land for additional sports fields in the south-west of the city.

"There's an increasing demand for recreational spaces in this part of the city due to the amount of residential development taking place.

"Being able to use this land means we can deliver key long-term goals associated with our draft Sports Field Network Plan."

A condition of the payment of $5 million is that CAPA uses $1 million to pay off its existing loan with the council.

Rutledge said the remaining $4 million will go to a newly established, capital protected charitable investment trust.

The trust has three independent trustees – one appointed by CAPA, one by the Council and the third jointly appointed who will also be the Chair.

Rutledge said the agreement also...