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Christchurch

Expansive freehold site moments from Christchurch Airport

JLL marketing 475 Memorial Avenue, Christchurch


 

 

Two central Hokitika properties for sale with upside/new-zealand/en-gb/news/901/two-central-hokitika-properties-for-sale-with-upsideTwo central Hokitika properties for sale with upside
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A significant land holding located within a stone's throw of Christchurch International Airport is for sale through JLL agents Sam Smith and Hamish Stallworthy. The 17.7445 hectare freehold site is for sale through expressions of interest closing 4pm, Tuesday 12 June 2018.

"This site has great profile and is arguably the most prominent sites in the South Island given its location at the corner of SH1 and Memorial Avenue directly opposite the airport. Our vendor is retiring and has held this expansive parcel of land for some time, during which the area surrounding the site has seen marked improvement driven mainly by the airport," explains Smith. "The site is in four titles and has a 500 metre frontage to Memorial Avenue allowing multiple access points, and there is also access available from Avonhead Road."

The property is zoned industrial business park which allows for a wide range of permitted use's including warehousing, food and beverage, service station, office, gymnasium, pre-school, veterinary care, bulk retail and hotel.

According to Statistics New Zealand, the population in Christchurch City is forecast to increase by 19% between 2017 and 2043, an increase of 71,900 residents.

The projected population growth for this area means that this is the opportune time for developers and investors to secure a site in such a significant Christchurch location.

"Memorial Avenue is essentially at the gateway to Christchurch and this site is well known by those in the area. It's in such a prominent location and will undoubtedly be an exciting prospect for developers, land bankers or owner occupiers with the right plan in place. There is also the possibility that the new owner could develop one title and on-sell the rest," says Stallworthy.

Testament to the quality of the site, across the road is one of New Zealand's premier golf courses, the Russley Golf Club who cater to both locals and visitors to the area.

The property is a 20-minute drive from Christchurch CBD and is only metres from the SH1 interchange allowing easy access to both the north and south. Recent improvements to the Western Corridor (SH1), which is a Road of National Significance, has seen the road go from two lanes to four. The majority of the traffic he is heading into the city, the airport, Belfast in the north or Hornby in the south, with a small percentage travelling further north or south of these key areas.

"The roading in this area of Christchurch is improving at a rapid pace with the new bridge over Memorial Avenue and improved links to the northern areas and southern areas of the city," says Stallworthy.

Traffic passing the site along Russley Road is approximately 25,000 cars per day.

"Another contributing factor to growth in this area of Christchurch is the increase in tourism post the 2011 earthquakes. The city is nearing the end of a $40 billion post-earthquake rebuild. The result of this is not only a modern city, but an increase in tourism. Christchurch International Airport reports a record 6.57 million passengers travelled in and out of the airport in 2017, with the trend of increasing visitor numbers into the city expected to continue. Tourist numbers into New Zealand are also expected to rise by 4.8% over the next five years to 4.9 million visitors, many of which will travel to the South Island landing in the gateway city of Christchurch," says Stallworthy.

Christchurch is the gateway to New Zealand's South Island and is the key hub for international and domestic tourism. The Canterbury region makes up 57.5% of the South Island's GDP.