Local investment has proven strong for Christchurch with property group Countrywide Property Trust Limited buying a prominent site for the multi-storey development at 36-44 Oxford Terrace.
The 1,700m2 site has a prime location in close proximity to the Christchurch Hospital and Te Papa ÅŒtÄkaro/Avon River, with easy access to the Retail Precinct and Hagley Park, as well as to the Earthquake Memorial and public transport super stop.
The Crown’s sale of this site and the proposed exciting development plan proves investor confidence is still strong in the city says Christchurch Central Development Unit (CCDU) acting Director Don Miskell.
“Our aim is to establish a first-class precinct that brings together health-related activity, including education and research,” he says.“This new construction project by Countrywide Property, once all conditions of sale are met, will be a step forward in bringing this vision to life.
“Spanning four blocks between St Asaph Street, Hagley Avenue, Oxford Terrace and Montreal Street, the Health Precinct will be a valuable community asset with strong ties to the adjacent Christchurch Hospital, currently undergoing re-development.
“The Health Precinct will benefit from Countrywide Property’s extensive experience and knowledge of developing in post-earthquake Christchurch,” Mr Miskell says. Countrywide Property Trust Limited Director Richard Diver says it plans to construct a multi-storey building on the corner site.
“For such a prominent location, we plan to create a campus-style development that interacts with our neighbouring project at 32 Oxford Terrace,” he says.
“The four upper levels will accommodate health-related tenants, with the ground level being a combination of retail and hospitality.
“At present we are working through the developed design for 36-44 Oxford Terrace and hope to start building later this year,” Mr Diver says.
Source: Christchurch Central Development Unit