In what might be the best gauge of current developer confidence in Christchurch, we have just gone to market with our largest central city land parcel.
At over 8000m2 the site bordered by Madras, Armagh and Gloucester Streets is the biggest blank canvas development opportunity you will see this close to Cathedral Square anytime soon.
The site’s most significant neighbour is Fletcher Living’s One Central, where homes are selling fast, with close to 200 now purchased.
Naturally this burgeoning neighbourhood will need and support further commercial developments in the area. So, we look forward to seeing a range of proposals for the Madras Street land.
Having recently divested some other significant sites around city, we know there’s a renewed appetite for development in Christchurch.
Our sale of the former IRD building late last year will lead to the creation of a nationally significant centre for research, training and the development of dementia care related opportunities. A stunning new medical services facility is also on the way as a result of our sale of the former Oxford Clinic site last month.
So, I will be sure to let you know how we get on with the Madras Street site.
I am hopeful a successful sale of this size will also be a call to action for others who have been waiting for the right time to move forward with plans for their own vacant sites around this city.