Richard Diver set to sell prime Kilmore St land facing Cranmer Square in Christchurch

Richard Diver, whose name is synonymous with the redevelopment of Victoria St in Christchurch, is selling a premium parcel of bare land opposite Cranmer Square

The 5845m2 Kilmore St site was formerly home to the old Environment Canterbury, which has continued to lease part of the site. 
Diver’s Countrywide Property bought the land in 2014, originally earmarking it for a $75 million apartment complex featuring two towers above a three level carpark. 

But Diver said he has hands full with current developments, and doesn’t have time to do the proposed project justice.

“I decided at Christmas to cut back on my workload and, after I’ve finished my existing developments, to semi retire.

I got going full steam straight after the earthquakes and I’ve done enough for the time being. I still have a heap of other commercial projects to finish and they’re consuming all my time. That means I can’t give the apartment complex I was planning the attention it deserves. I bought the site to do that project but if I can’t do it justice then I’m better to hand it over to someone who can dedicate their time to it.”

Diver said Countrywide Property still has several developments on the go including:
  • A five level, 7000m2 building at 123 Victoria St.
  • Finishing a food court on the corner of Victoria and Salisbury Sts, with an adjacent 54 carparks.
  • 32 Oxford Tce. A five level, 6000m2 building due for completion at the end of this year.
  • Redevelopment of the former Oxford Clinic site into a 8000m2 medical research facility. Due for completion 2017.

Mark Macauley, general manager of Colliers International (agency) in Christchurch, said the bare land currently being marketed was split into three titles with road frontages onto Kilmore St and Chester St West.  Of the parcel, approximately 4213m2 is zoned Central City Business and 1632m2 is Living B4.

“This is a fantastic opportunity to secure a large land parcel in Christchurch’s sought after CBD core. The multiple titles provide flexibility and there’s also the added attraction of the land lease to ECan providing holding income. The vendor will consider selling the titles separately.”

Given its zoning, Macauley said the land had scope for a large scale commercial development coupled with high

density residential.

For further information:
Mark Macauley

03 365 7887
021 650 460

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