A significant redevelopment site in the picturesque harbour town of Lyttelton near Christchurch is ripe for mixed-use commercial and residential premises.
Lyttelton is home to the South Island’s largest port, an eclectic community set to reap the benefits of Canterbury’s continuing growth and prosperity.
Marketed through investment sales specialists Courtney Doig and Luke Wishnowsky of Colliers Christchurch, 3–9 London Street is for sale by deadline private treaty, closing 21 March.
The bare land is in the heart of Lyttelton’s commercial precinct, on the corner of Oxford and London Streets.
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The combined holding is under two individual titles totalling 973sq m.
Its north-facing frontage to London Street is 37.5m with an east-facing frontage to Oxford Street of 25.6m.
“Now dubbed Collett’s Corner, this is arguably the best address in Lyttelton, and on a prime corner site with a bus stop right outside.
"Land is tightly held here, and this is a prime opportunity for a savvy developer to make a real mark on the town and benefit from the significant commercial opportunities available,” Doig says.
More than a decade ago, the corner was home to Collett’s Pharmacy, Maritime House, the Empire Hotel, and more recently Bookkeeping and Beyond, McKay Shipping, Lyttelton Seafoods, NZ Post, and Leslie’s Bookshop.
The land is contoured sloping away from London Street towards the sea, making it feasible to have four storeys on the site.
Zoned Commercial Banks Peninsula, the site was originally earmarked for New Zealand’s first crowdfunded commercial property development comprising 20 apartments with a shared rooftop deck, a wellness centre, and hospitality outlets.
The project was run on a model the organisers called ‘compassionate capitalism’, aimed at sharing wealth and designed following wide community consultation.
The plan had resource consents in place but rising costs saw it reluctantly abandoned.
“Interested parties may choose to take advantage of the hard work that’s already been completed in terms of planning and design,” Doig says.
Lyttelton is separated from Christchurch by the Port Hills but is also linked to the city, just 15 minutes’ drive away, via Lyttelton Tunnel. The town’s main street houses a range of commercial services and hospitality spots as well as convenience, retail, craft, and gift stores.
Next month it will host SailGP for the second consecutive year, after gaining wide acclaim for staging the inaugural event in 2023. This season, running November through to early April, 79 cruise ships are scheduled to arrive in Lyttelton.
Every Saturday hundreds of people flock to the Lyttelton Farmers Market which has been running for 18 years and attracts up to 50 stalls. The area is a mecca for hiking, biking, and water sports, all with stunning views over the harbour.
- Supplied by Colliers
