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Christchurch gentrification continues

NZ_AucklandCBD_Communications_Christchurch gentrification continues

The substantial gentrification of the Christchurch CBD fringe has transformed residential areas north of the city centre into catchments keenly sought by developers seeking value-add opportunities or land for new builds.

Against this backdrop, a gated 14-townhouse complex, at 170 Peterborough Street, has just come to the market on an ‘as is, where is’ uninsured basis and is being marketed by Courtney Doig of Colliers.

Known as St Lukes Close, the ideally positioned property is on the corner of Peterborough and Manchester Streets, near Forté Health. It is set for auction on 9 December.

“This property should appeal to astute value-add buyers, investors, and developers because of the immense future scope to add value,” Doig says.

“A key attraction is the significant holding cashflow, consistently featuring at approximately $300,000 gross annually, which will allow developers time to plan their repairs.

“Underpinning this superb opportunity is the underlying Residential Central City zoning that allows for a range of housing types, including attractive, high-density living opportunities.”

Sited on 1,899sq m of land, the townhouses all enjoy north-west outlooks over Manchester Street or the communal central courtyard.

The terraced homes all have single, internal accessed garaging, outdoor courtyards, and upstairs balconies.

“We’ve negotiated a lot of these sales over the past several years and interest in them is still strong, fuelled by the increasing vibrancy of the city centre, which is making inner city living so popular today,” Doig says.

St Lukes Close is in easy walking distance to central city amenities and attractions, including the Avon River Walkway just south of the property, Margaret Mahy Playground, Victoria Street’s hospitality and retail precinct, Christchurch Casino, Te Pae Convention Centre and the Christchurch Multi-Use Arena, now under construction.

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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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