Car dealer sells out of frame
A big Christchurch car dealership is moving its businesses out of the city’s south frame and selling the land.
The Cockram family owns several vehicle dealerships on half a city block bordered by Durham, Tuam and St Asaph streets, a holding built up since the 1970s.
After a lengthy negotiation the family is selling the Crown a small strip of land, designated for south frame’s east-west laneway, which bisects the site.
The lane is a key part of the south frame rebuild project - a series of public lanes and small squares separating commercial sites in a row of blocks bookended by the innovation and health precincts. The Cockram strip is one of the last pieces of the 2.9ha the Crown needs for the project.
Other businesses, including motor vehicle dealers, have already moved out of the south frame or plan to do so.
The Cockrams are now selling their 6560sq m site, which will be in two pieces once the Crown purchase and title changes for the laneway are completed. Family spokesperson Matthew Cockram said the south frame plans meant the land no longer suited their needs.
Their Cockram Motor Group’s dealerships on the block sell new Hyundai, Isuzu, Maserati, Fiat, and Alfa Romeo cars, plus six brands of motorcycles including Indian and Vespa, and commercial vehicles and used cars. They also operate a car finance business.
The family has recently bought about a dozen adjoining sites in the block opposite, bordered by Durham, St Asaph and Walker sts. They have moved their European car dealership Euromarque onto that land. Cockram said they would progressively move the remaining dealerships across the road.
The land is for sale as two parcels or one lot. Marketing agent Hamish Doig of Colliers said it suited a wide range of uses including offices, hotels, serviced apartments, retailing, and car parking. It can be built on up to four storeys high.