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Prominent Christchurch sites ready for auction

NZ_AucklandCBD_Communications_Prominent Christchurch sites ready for auction_Photo 1

Two prime sites that offer significant development opportunities in Christchurch will go under the hammer on Thursday 7 March at Colliers Christchurch’s first auction of the year.

Courtney Doig, Investment Sales Broker at Colliers Christchurch, says the respective vendors have changed direction, with one changing their product mix and the second shifting to a retirement village.

“Buoyed by a strong local economy, the Christchurch market continued to perform strongly last year, despite softer prices elsewhere, and we’re expecting that trend will continue into 2024,” Doig says.

“We know there was significant unsatisfied demand in 2023 and investors and developers are still actively looking for new opportunities.”

A large 1,026sq m slice of land in the exclusive Cranmer Square near Hagley Park is set to appeal. The site is being sold by Wolfbrook Property Group, which develops affordable multi-unit complexes in Christchurch.

“Wolfbrook has decided the site at 6 Cranmer Square doesn’t fit their target market of affordable high density residential developments so is looking to free up capital for other investments,” Doig says.

“This is the last clear site in Cranmer Square and offers seasoned developers the potential for a single home, multiple apartments, or a collection of high-end mews-style townhouses.”

Doig says the property’s regular shape allows for flexibility of design.

The Residential Central City Zone provides for a range of housing, including attractive high density living opportunities close to the CBD.

Nestled at the western edge of the Christchurch CBD core, Cranmer Square is a short walk to Hagley Park and the CBD. It’s close to a variety of independent schools such as Christ’s College, The Cathedral Grammar School, and zoned for popular Christchurch Girls’ High School and Christchurch Boys’ High School.

NZ_AucklandCBD_Communications_Prominent Christchurch sites ready for auction_Photo 2The second site comprises a total land area of 2,436sq m, a great opportunity for development.

The second site is on Holly Road in Saint Albans, a short drive to the CBD and in easy walking distance of Merivale, Edgeware, Victoria Street, and Hagley Park.

The significant combined holding of 2,436sq m currently comprises two houses on two titles at 130 and 130A Holly Road, sitting on 878sq m and 1,558sq m, respectively.

“Our vendor has owned this property for more than 35 years, living in the rear property throughout that time. His decision to sell represents a great opportunity to redevelop in this ever-popular, tightly held catchment,” Doig says.

The Residential Medium Density zoning provides for townhouses, terraced housing, apartment buildings and encourages comprehensive development of multiple adjacent sites. Smaller and shared outdoor living spaces are allowed.

Holly Road also enjoys proximity to a variety of excellent amenities such as the CBD, Edgeware Village, Merivale Mall, and Victoria Precinct, and is close to independent schools, together with zoning for Christchurch Girls’ High School and Christchurch Boys’ High School.

To view more investment opportunities use our property search here.

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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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