The Christchurch CBD land where the award-winning historic Stonehurst Hotel once stood, is being sold together with several adjoining properties.
The popular hotel was destroyed in the 2011 earthquakes and was subsequently demolished.
Totalling 10,522sq m and comprising four logical blocks, the land spans between Gloucester and Armagh Streets northeast of the central city and can be bought as one parcel or individually.
Together with bare land, the offering includes motel units, a backpackers and powered campervan sites – all of which have been vacant since the earthquakes.
“This is arguably the most significant central city development site to come to the market in Christchurch for some time,” Franks says.
“We think it’s a prime development site for central city affordable housing, especially with the growing number of Kiwis returning home to live.
“There’s a lot of interest in affordable residential housing in inner Christchurch and we think this site has considerable potential. With the increasing city amenity, people of all ages are seeing central Christchurch as a real option for living now that more affordable housing is coming onstream.”
Other end uses could include guest accommodation, over 60s units, student accommodation, boutique retirement village, or additional motel units.
Courtney Doig says the expansive street frontages and regular shaped parcels provide development flexibility with the multiple titles on offer.
“It would be great to see parts of the site restored or developed back to its highest and best use for the city.”
The offering comprises:
- Block 1 – A combined area of 2,914sq m, with a northern aspect over Armagh Street and zoned Residential Central City.
- Block 2 – Nine, three-bedroom, insured two and three storey townhouses, each fully equipped with chattels. Internal access garaging.
- Block 3 - A combined offering of 2,933sq m zoned Residential Guest Accommodation. Formerly home to the heritage Hotel Stonehurst that won many tourism awards over the years but was badly damaged in the 2011 earthquakes and subsequently demolished. This site also includes the associated motel (damaged) with surplus development land.
- Block 4 – A former campervan site. Residential Guest Accommodation zoning with a combined scale of 3,235sq m.
Franks says the vendor has successfully acquired the property holding over the past 30 years, having bought the Stonehurst in 1983 and then adding the remaining sites as they became available.
“The vendor lives in Tairua much of the time now but used to be hands-on at the Stonehurst from 1984 right through until it was destroyed by the earthquakes.“During that time, they became a real mecca for bus tours like Contiki and won multiple national tourism awards. They later added their own buses and car rental business.”