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Prime Christchurch CBD landholdings offer plenty of options

Prime Christchurch CBD landholdings offer plenty of options  hero

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.

Brokers Will Franks, Courtney Doig and Hamish Doig of Colliers International are marketing the offering, which is set for deadline private treaty, closing August 18.

“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.”

Related Experts

Will Franks

Investment Sales Broker

Christchurch (Agency)

Will has built a strong following in the investment sector, with an established track record in selling retail premises, offices, development land projects and childcare centres. He is highly regarded for the constructive solutions he brings to the table for vendors and his patient approach to the process.

An excellent team player, Will readily involves fellow brokers to combine expertise for the best possible outcome. His previous background in valuation and leasing provides Will with an excellent depth of market knowledge.   

This combined experience adds significant value to all clients throughout the investment sales process. Will builds long term relationships and is committed to the Christchurch market and its ongoing growth. He has achieved significant recent success in the auction room, helping clients to achieve record yields.

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Courtney Doig

Investment Sales Broker

Christchurch (Agency)

Courtney has won multiple national awards and is recognised as one of the star performers at Colliers. She is widely respected for her initiative, tenacity, and professionalism. 

During the past year, she negotiated more than $94 million of investment sales including a diverse variety of commercial buildings and ‘as is where is’ body corporates.

Rising to the top of the industry in a short time, Courtney was named Colliers International Rookie of the Year in 2014, after achieving the highest revenue of all new brokers. Since then she’s added Colliers International Managing Director’s Award in 2011 & again in 2013, followed by the REINZ Commercial & Industrial Rising Star of the Year in 2014 and General Manager’s Award in 2017. In 2018 she was recognised as the winner of the RICS Women of the Built Environment which promotes positive contribution to the property industry.

Courtney is the dominant broker in body corporate ‘as is where is’ sales, implicitly understanding the complexities of this sector. 

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Hamish Doig

Managing Director

Christchurch (Agency)

Hamish is Managing Director of Colliers International in Christchurch. He is regarded as one of the most influential and well-connected investment brokers in the South Island and one of the most successful in New Zealand.

Hamish is a trusted advisor to his many high-profile clients, proactively building value into their portfolios by identifying investment opportunities. A strategic thinker, he is always solutions focused and sees opportunities where others see challenges. 

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