Two freehold development sites in Christchurch and Waimakariri District are being divested by Woolworths NZ.
CBRE Christchurch senior broker Cameron Darby is handling the sale of the two sites, at 365 and 379 Prestons Road, Marshland and 2 Main North Road, Woodend. Both are offered for sale by deadline private treaty closing at 4pm on 24 November unless sold prior.
365 and 379 Prestons Road is a large land parcel totalling over 4.5ha. It is held in two titles: one larger site of 36,027 sq m and a smaller 9207 sq m site.
“This is a highly strategic site, offering the opportunity to purchase a land holding of significant size in a rapidly-developing location,” Darby says.
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“Large-scale residential subdivisions, retirement villages and a fast-growing commercial centre have cemented this location as a sought-after new neighbourhood on the northern fringe of Christchurch city.”
The land is located adjacent to the growing commercial centre, Marshland School and new residential developments, making it an ideal candidate for potential rezoning to pave the way for future development.
“Strategic rezoning opportunities on the urban fringe, in a prime, fast-growing location like this, are difficult to come by.
"We expect to receive interest from buyers looking to acquire land now to have a stake in the ongoing development of this area, as more families move into new housing nearby,” Darby says.
The land, which has a 256m frontage to Prestons Road just off the intersection with Marshland Road, is 15 minutes drive from central Christchurch, with bus stops within walking distance. Nearby recreational amenities include Waitikiri Golf Course, Bottle Lake Forest and Waimairi Beach.
2 Main North Road, Woodend, is a vacant 7853 sq m site occupying a highly visible position at the southern gateway to the North Canterbury town on the eastern side of State Highway One.
Currently zoned Residential 2, permitting subdivision into minimum lot sizes of 600 sq m, the site is earmarked for potential rezoning under the National Policy Statement on Urban Development to Residential Medium Density, says Darby.
“The proposed medium density zoning permits development of up to 11m in height, with no site density limits and 50 per cent site coverage allowed. It also opens up the potential for other uses including visitor accommodation, education and healthcare and well as residential.”
The NPS-UD recognises the strong growth of the Woodend area, which is expected to continue, he says.
“Woodend is becoming a highly popular residential location because of its close proximity to Christchurch CBD, which is now just over a 20 minute drive away via the new Northern Corridor. Bus connections to Christchurch also make it attractive to commuters who prefer not to drive.”
The area also offers plenty of outdoor recreation opportunities including Pegasus Golf Course, beaches and the Waimakariri River.
The high profile site provides 115m of street frontage on the main arterial route north from Christchurch city, with around 20,000 vehicles passing the site daily.
- Article supplied by CBRE
