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News Release


Iconic site ripe for retail development



Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
Former Fire Station on high profile corner site/new-zealand/en-gb/news/915/former-fire-station-on-high-profile-corner-siteCHRISTCHURCHFormer Fire Station on high profile corner site

​​There is strong occupier demand for a limited amount of retailing stock in Christchurch which is resulting in a number of developments in the pipeline and an improving retail sector. Moorhouse Avenue in Sydenham has become one of Christchurch’s most recognisable addresses since transforming into a popular retail destination and the opportunity to purchase an iconic site with excellent retail development potential has come to the market at 392 Moorhouse Avenue. The chance to invest in a location within surrounding high-profile retail outlets, at a time when vacancy levels remain low is one not to be missed. 
Offering the land for sale by tender is JLL Commercial Sales and Leasing Specialist, Chris Harding, who says, “The new owner of this unique opportunity has the option to build a bulk retail development that is boosted by its surrounding high profile tenants which include Countdown, Pak n Save, McDonalds, Burger King, Denny’s, Harvey Norman, Cockram Nissan and Kia.”
Harding continues, “The planned redevelopment of a neighbouring property to build a multiplex theatre and 15-storey hotel will further enhance the attractiveness of the area and drive traffic to the site.”
The site was first built in the 1960’s as a Central train station before becoming the home of New Zealand Science and Technology Charitable Trust Centre, Science Alive. Post-earthquakes this site has since become a total of 5,766 sqm of prime land ripe for bulk retail development.
Anton Ritani, Commercial Sales and Leasing Specialist for JLL, who is working alongside Chris Harding on the sale of the land says, “Whilst in the process of developing the site to its full potential, the new owner will benefit from the existing income that is being generated from temporary usage of the site through monthly car park leases and signage. The overall income per annum is circa $46,800.00 and provides the purchaser with a great opportunity to derive an income before they are ready to develop.”
The property is located to the Southern side of Moorhouse Avenue between the intersecting roadways of Pilgram Place to the west and the highly trafficked Gasson Street to the east. It is zoned ‘Business 3B’ making it suitable for retail and commercial developments that will act as a transitional buffer between the mixed industrial activity and the medium density inner city housing areas. This iconic site has excellent development potential for a return on investment.