The Maori village was initially claimed to have cost $6 million, a figure that Tamaki says was based on developing the park with a partner.
Tamaki Heritage Experiences ended up going it alone but he wouldn't reveal the final cost of the venture, which at its peak employed about 60 people.
As well as the working Maori village the three-hour Lost in Our Own Land cultural experience included an audiovisual presentation, battle re-enactment, and tram ride through Ferrymead's historic European township.
Tamaki said the heartbreaking closure was forced on them by the negative impact of the earthquakes and the recession on the region's tourism industry.
"After the February earthquake we had all our wholesalers cancelling and they said they wouldn't be coming through for the next two or three years and that's something we just couldn't sustain.''
However, Ferrymead Heritage Park manager Newton Dodge said activity at the Maori village had tailed off well before any earthquakes and the firm's payment for use of park facilities had not proved the financial bonanza some had predicted.
"It was nice to have had some income while they were there, but it's not something I'd write home about and as a percentage of our turnover it would have been 8 to 10 per cent.''
Tamaki denied the Christchurch operation was struggling pre-quakes.
"We knew we'd have to work hard in the first five years to establish ourselves and get a good reputation within the South Island as we have nationwide
"It has been quite hard, the Rotorua business was supporting both and that's not what it was supposed to do.''
He said his company might consider re-entering the Christchurch market if visitor numbers pick up.
Although the closure has left Ko Tane village without a competitor, co-owner Dave Brennan is still sorry to see the company leave the city.
"It was good having them here, too, because it has now put more cultural awareness on Christchurch.''
Brennan said that the buildings from the enterprise would allow Ko Tane to triple the size of its Maori village but future developments would depend on better tourist numbers.
"We've just had the shortest season I can think of. It was all over by the end of February instead of winding down towards the end of April. The wholesalers are directing traffic away from here.''
-APNZ