One of the most significant, and largest, remaining parcels of development land in central Christchurch – the former Cranmer Centre site – has been placed on the market for sale via CBRE.
The 5,620sqm site, on the corner of Armagh, Montreal and Gloucester Streets in the western CBD, has been vacant and undeveloped since shortly after the February 2011 earthquake. It is being marketed by Tim Rookes and Cameron Darby of CBRE for sale by deadline private treaty closing at 4pm on May 20.
Until May 2011, a Category One listed heritage building stood on the site, originally built in 1881 for Christchurch Girls’ High School. The Venetian Gothic-style Cranmer Centre building was constructed in brick, with sandstone facing features around the windows and a slate roof.
The building was renovated and extended in 1907 and 1912 to accommodate the school’s growth. Further extensions and alterations were made in 1936-1941 and again in 1961.
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When Christchurch Girls’ High School eventually moved to its new site on Deans Avenue in 1986, the building was leased to the Arts Centre of Christchurch. It was later sold to Ngāi Tahu, and in 2001 was sold again, to the Arts Centre of Christchurch Trust, before being acquired by its current owner, Christ’s College, in 2005.
The land, in a highly sought-after location on Cranmer Square just one block from Hagley Park, is expected to be of considerable interest among buyers, says Rookes.
“After sitting vacant for 10 years, this prime site is finally being released to the market for development. It is a massive site for this area and is one of the largest parcels of land to be placed on the market in the western CBD since the earthquakes.”
Various end uses are possible including residential, retirement/aged care, educational or accommodation, Darby says.
“The current high demand in the Christchurch housing market means developers are competing to secure sites with favourable zoning and which are ready for development. This site’s Residential Central City zoning, with an education overlay, is suitable for high density residential development and could also include other uses such as retirement developments, education facilities or student accommodation.”
Building height limits in the area are 14 metres, which could accommodate a development of up to three to four levels capturing views over Hagley Park and the central city, he adds.
The site is part of a “dress circle” pocket of housing located between the core central city area and Hagley Park, says Rookes.
“This site is in an area which is considered an ‘ultra prime’ location among residential developers, characterised by higher-density luxury housing, stand-alone homes, heritage commercial buildings, parks and private schools. As a result, the location is extremely tightly held and bare land development opportunities in this area might only come up once in a generation.”
The north-facing site provides an excellent outlook to Cranmer Square, with a multitude of local amenities, Darby says.
“Christchurch Art Gallery is on the doorstep, along with the CoCA gallery, bars and restaurants, the hospital, the Avon River, Hagley Park and the Botanic Gardens. The area is renowned for its amenity value and residents don’t have to go very far to access a multitude of recreation, shopping and hospitality options.”
