Christchurch’s dominance as a development hub has sharpened investor focus on large-scale city-fringe opportunities, with one of the most substantial sites on the southern edge of Hagley Park now available to forward-thinking investors and developers, Bayleys brokers say.

Bayleys Capital Markets director Jesse Paenga, together with James Hill and William Wallace, is marketing the freehold landholding at 36 Clarence Street South, for sale by deadline, closing at 4:00 pm on Thursday, 30th October 2025 (unless sold prior).

The 2.051ha (more or less) parcel sits at the heart of the Addington precinct – one of Christchurch’s most dynamic transitional areas.

The asset currently produces $350,420 plus GST per annum in holding income from the former Court Theatre building and yard, while featuring substantial long-term development potential.

Paenga says the subject property represents a rare alignment of scale, zoning flexibility, and location. “City-fringe parcels of this magnitude don’t come to market often. With its mixed-use zoning overlay, the site offers enormous scope – from residential intensification through to commercial uses or a combination of both in a new precinct.”

“It’s the type of blank canvas that gives developers the freedom to respond to evolving market demand.”

The brokers say the property’s zoning classification allows for vertical development up to 21 metres, supporting both medium-and high-density residential activity alongside compatible commercial uses.

Positioned less than four kilometres from the CBD and within easy reach of the State Highway network and the city’s arterial routes, the site is well-connected to Christchurch’s broader growth spine.

“Addington has experienced a remarkable transformation over the past decade,” says Bayleys Industrial Sales and Leasing director, James Hill. “What was once a predominantly industrial quarter has shifted to a mixed urban environment, with cafes, offices, entertainment and residential communities thriving side-by-side.

“That vibrancy, coupled with direct access to Hagley Park and the city core, makes it exceptionally attractive for future occupiers.”

The asset comes to market as Christchurch accelerates its next phase of urban renewal, marked by the construction of Te Kaha Stadium, the regeneration of central city precincts, and strong population inflows.

Hill says investors and developers have recognised Christchurch’s evolution as more than a post-quake rebuild story.

“Christchurch is firmly positioned as New Zealand’s most affordable major city for residents, with infrastructure, population growth, and amenity setting the stage for ongoing growth. Opportunities of scale on the city fringe are increasingly scarce, so the property provides a strategic first-mover advantage for investors.”

The brokers say the existing Court Theatre building use provides flexibility, either through continued leasing or repositioning, while longer-term strategies are pursued.

“With significant holding income in place, purchasers can take a phased approach securing revenue today, while shaping a masterplan for tomorrow,” they say.

“This is a property that lends itself to vision. Whether as a future landmark, commercial campus or blend of both, the fundamentals of scale, connectivity and amenity are already in place.”