“Our decision is to reopen the Ferry but not like it once was,” he said.
The investment group favours a family-orientated complex with a focus on good, serviceable food and accommodation.
“We have done research domestically and internationally and what we have seen is the whole family there and most of our trustees are in favour of opening a family-orientated Ferry.
“We still want a pint poured but the new Ferry will not be like the old Ferry.”
Staff have been integrated into the Frasertown Tavern allowing it to open for longer hours and it has provided them with employment security.
Mr Aitken in May said the future of the historic pub was in limbo with no update on the horizon.
“This is a huge period in the life of an iconic building,” Mr Aitken had said.
“Cyclone Gabrielle is not the issue, we had three days of clean-up and now three months of waiting.”
Fast forward to July and the Ferry has been classified as 2A on the land categorisation scale.
Geotech experts brought in by Tenfold have told them continued erosion to the riverbank has made the site more vulnerable to environmental extremities like liquefaction.
Last year, a retaining wall was erected on River Parade by the Hawke’s Bay Regional Council but it did not extend to private property.
Mr Aitken noted that since Tenfold took over the Ferry in 2005, the building has been insured providing options for the future.
“The building has carried insurance all its career and is well-insured; that has given us options.
“We cannot do it without an insurance payout, however.
“Whatever we do, moving forward carries risk and how we manage risk will be around insurance support and the direction we want to take.”
