The Christchurch CBD land where theaward-winning historic Stonehurst Hotel once stood, is being sold together withseveral adjoining properties.
The popular hotel was destroyed in the 2011earthquakes and was subsequently demolished.
Totalling 10,522sq m and comprising fourlogical blocks, the land spans between Gloucester and Armagh Streets northeastof the central city and can be bought as one parcel or individually.
Together with bare land, the offeringincludes motel units, a backpackers and powered campervan sites – all of whichhave been vacant since the earthquakes.
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Brokers Will Franks, Courtney Doig andHamish Doig of Colliers International are marketing the offering, which is setfor deadline private treaty, closing August 18.
“This is arguably the most significantcentral city development site to come to the market in Christchurch for sometime,” Franks says.
“We think it’s a prime development site forcentral city affordable housing, especially with the growing number of Kiwisreturning home to live.
“There’s a lot of interest in affordableresidential housing in inner Christchurch and we think this site hasconsiderable potential. With the increasing city amenity, people of all agesare seeing central Christchurch as a real option for living now that moreaffordable housing is coming onstream.”
Other end uses could include guestaccommodation, over 60s units, student accommodation, boutique retirementvillage, or additional motel units.
Courtney Doig says the expansive streetfrontages and regular shaped parcels provide development flexibility with themultiple titles on offer.
“It would be great to see parts of the siterestored or developed back to its highest and best use for the city.”
The offering comprises:
- Block 1: A combined area of2,914sq m, with a northern aspect over Armagh Street and zoned ResidentialCentral City.
- Block 2: Nine, three-bedroom,insured two and three storey townhouses, each fully equipped with chattels.Internal access garaging.
- Block 3: A combined offeringof 2,933sq m zoned Residential Guest Accommodation. Formerly home to theheritage Hotel Stonehurst that won many tourism awards over the years but wasbadly damaged in the 2011 earthquakes and subsequently demolished. This sitealso includes the associated motel (damaged) with surplus development land.
- Block 4: A former campervansite. Residential Guest Accommodation zoning with a combined scale of 3,235sqm.
Franks says the vendor has successfullyacquired the property holding over the past 30 years, having bought theStonehurst in 1983 and then adding the remaining sites as they becameavailable.
“The vendor lives in Tairua much of thetime now but used to be hands-on at the Stonehurst from 1984 right throughuntil it was destroyed by the earthquakes.
“During that time, they became a real meccafor bus tours like Contiki and won multiple national tourism awards. They lateradded their own buses and car rental business.”
