Christchurch add value site with significant flexibility

Bristol Trust to sell site

A 36-bedroom facility in Merivale, Christchurch, that was previously used to support and accommodate adults with mild to moderate intellectual disabilities, is being sold by owners the Bristol Trust.

The total facility is spread across three titles on 2,534sq m, including a prime corner site on Bristol and Berry Streets.

The offering is made up:

  • A 23-bedroom complex comprising a 15-bedroom hostel and two flats housing eight bedrooms on 1,678sq m of land at 14 Bristol Street;
  • Three flats housing five bedrooms on 429sq m at 11 Berry Street;
  • Two flats housing eight bedrooms on 427sq m at 17 Berry Street;
  • A character bungalow with four bedrooms on 470sq m at neighbouring 10 Berry Street.

The properties are being marketed by Courtney Doig and Oliver Salt of Colliers International in Christchurch.

The auction is set down for 10am on Thursday 13 December unless the properties are sold earlier. 

Doig says it is the first time the larger offering has come to the market in more than 30 years.

“The separate titles create significant development flexibility for a seasoned developer or add-value buyer to repurpose the existing buildings or redevelop the site in this tightly held location.

“There’s also potential for existing holding income to enable sufficient time to plan the redevelopment of the sites.

“Alternatively, it’s a wonderful opportunity to landbank in such a tightly held locality.”

Salt says the zoning of Residential Medium Density and Residential Suburban Density Transition provides potential for a large scale residential development.

The area is also in the school zones of Christchurch Girls’ and Boys’ High Schools, Heaton Intermediate and Elmwood Primary School.

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