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Stellar Christchurch CBD development site put up for sale

Stellar Christchurch CBD development site put up for sale  hero

Once home to the ANZ Bank, one of the last and most prominent remaining pieces of CBD bare land in Christchurch is set to change hands for the second time post-earthquake.

The 1371sq m site, on the corner of Hereford and Colombo Streets, and Cathedral Square, will go under the hammer on November 26, marketed by Courtney and Nick Doig of Colliers International.

Aotea Gifts bought the land at 9 Cathedral Square in mid 2017 at a keenly contested auction. The national tourist retailer was planning to build a retail and tourism facility, lured by its proximity to Christchurch Cathedral and Te Pae Convention Centre and the surrounding accommodation precinct.

Courtney Doig says the site lends itself to a variety of uses including as a hotel, commercial office, retail, hospitality/entertainment or mixed-use development including residential.

“This strategic site enjoys the benefit of being directly opposite the nearly completed world-class venue Te Pae, which offers numerous event spaces and will attract an abundance of local, national and international events in due course. When Te Pae opens next year foot traffic will greatly increase.

“The recent release of design plans for Christchurch Cathedral is also giving far more certainty to the area. With a finish date of early 2028, the Square will take on a whole new vibrancy.”

The recently completed Spark House, designed by Sheppard & Rout Architects, sits directly opposite the site being offered for sale and Tù„ranga Christchurch Library is close by. 

Resource consent and building consent is in place for a statement retail and hospitality building, that has already been designed, called ‘Braided Rivers’ after the braided patterns of the Waimakiriri River.

The design is by award-winning Japanese architect Shigeru Ban, along with local architects Warren and Mahoney. Ban also designed Christ Church Cathedral's Transitional Cardboard Cathedral on Hereford St.

Braided Rivers utilises a glued laminated timber, or glulam, which is created by bonding layers of lumber together with high-grade adhesives. The result is an engineered wood product that is stronger, lighter, cheaper and more environmentally-friendly than steel.

Doig says full working drawings are available by negotiation if the prospective purchaser is interested.

As part of the Resource Consent, approval has been granted for the canopy to extend 7m from the Northern facade into the Square. A licence is also available with Christchurch City Council for a 3m wide strip across the northern facade for external dining below the canopy.

Nick Doig says there is diminishing retail and office space available in the CBD, with occupancy the strongest it has been since the earthquakes.

“In the CBD retail sector, occupancy has improved significantly over the past 12 months and we’re noting that people are enjoying returning to the central city to experience a different type of shopping.”

Office vacancy levels are now back to pre-earthquake, and the third lowest since reporting began in 1993.

Related Experts

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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Nick Doig

Director of Retail

Christchurch (Agency)

Nick is one of the leading retail real estate specialists in Christchurch and the greater Canterbury region. He has a wealth of market knowledge and expertise, leasing over 125,000m² of retail space and negotiating more than $150m in retail property sales. He works meticulously with landlords to identify the right fit and has unrivalled expertise in coordinating tenancy mix within developments. Nick is always looking for the best outcome.

He works across all sectors of retail property from specialty fashion leasing in the rebuild of the CBD to driving the project leasing for large format retail, hospitality and convenience retail centres throughout Canterbury as well as being instrumental in many retail property sales transactions.

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