Calder Stewart to sell EntX cinema complex in Christchurch CBD
Christchurch CBD’s acclaimed new Hoyts EntX cinema complex is being sold by family-owned developers Calder Stewart.
The cutting-edge complex opened in late September and is now for sale by deadline closing at 4pm on Thursday December 13, unless it is sold earlier.
Hamish Doig, Managing Director of Colliers International in Christchurch, and specialist Investment Sales Broker Philip Cooper are marketing EntX.
“Calder Stewart are developers rather than owners and so they are looking to reinvest the capital into industrial and commercial projects,” Doig says.
As anchor tenant, Hoyts occupies 40 per cent of the space on the second and third levels with 900 leather recliner seats spread in front of seven screens.
On the ground floor are 19 separate tenancies, occupied by hospitality operators including Cleaver & Co, Joe’s Garage, and Nandos.
Located immediately opposite the Christchurch Bus Exchange, on the corner of Colombo, Lichfield and Tuam streets, Hoyts EntX has a net lettable area of 8,403sq m on 4,488sq m of central city land.
Cooper says EntX is likely to attract interest from national and international investors, given the calibre of the property.
“International and national investors are showing strong interest in Christchurch and we expect EntX to attract considerable attention.
“As well as being opposite the Bus Exchange, it also benefits from its position between the two carparking buildings on Lichfield Street and its connectivity to the CBD retail and office precincts.”
Calder Stewart is also selling another CBD site, the former temporary police station in St Asaph Street, built as a stop-gap until the Justice and Emergency Services Precinct was finished.
The large format single-level station, on a 1.6ha site, sits adjacent to the Metro Sports facility.
It was officially opened in 2013 as a replacement for the former city police station on Hereford St, after it was deemed unsafe.
More than 600 police staff were based at the station, which included a custody block.
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