Buyers keen on CBD land
Interest from would-be buyers in taxpayerowned sites in central Christchurch has been described as encouraging.
Crown rebuild company O¯ ta¯ karo has been seeking expressions of interest in several properties left over after being acquired for rebuild projects.
They include the Madras St block where a demonstration housing village plan was abandoned, a Cambridge Tce site in the north frame, and Tuam and St Asaph St sites in the south frame.
Deadlines for expressions of interest in three of the sites closed last week.
O¯ ta¯ karo owns around two hectares of land in central Christchurch, acquired by the Crown under the Canterbury Earthquake Recovery Act 2011 for the anchor projects.
Its website says it is aiming to sell the excess land to meet both commercial and rebuild objectives ‘‘to suitably qualified parties offering a good price and a great plan for development’’.
‘‘O¯ ta¯ karo will favour developments that can be delivered in a timely manner, increase expenditure and/or foot traffic in an area and encourage further development in adjacent areas.
‘‘Land banking will not be facilitated,’’ the website says.
An O¯ ta¯ karo spokesman said 169 – 171 St Asaph St was now under offer from a would-be buyer, while discussions were underway with ‘‘a party interested in’’ 142 – 144 Tuam St.
Both properties border Mollett St and were left over from laneway development in the south frame.
Interest in 243 Cambridge Tce and the Madras St site was ‘‘encouraging’’, the spokesman said.
The Madras St block, between Gloucester and Armagh Sts, was the subject a 2013 international housing design contest but the winning proposal was never built. O¯ ta¯karo would still like it to be developed for housing.
The Cambridge Tce site is on the Manchester St corner and opposite the Avon River precinct.
O¯ ta¯ karo’s next step for the properties will be deciding whether to go through a formal request for proposal process or negotiate directly with interested parties, the spokesman said.
He would not reveal how many expressions of interest were received for the sites.