August 12, 2008

Praise for Christchurch City Council land purchase

The Christchurch City Council should be praised for their courageous decision to purchase a $17 million property portfolio from developer Dave Henderson.

Hamish Doig, managing director, Colliers International in Christchurch, said that the Council has significant investment in this area and it made sound business sense to protect this investment.

"Why wouldn't they want to protect both their investment and their vision for this area south of Lichfield St? What Dave Henderson and the other developers have done in this area is amazing.

"Nearly every week I will have an international visitor in town and I always take them down to this area, and without exception they are blown away by what has been created down here. They do not expect to experience a world-class development like this in a city of only 400,000, favourably comparing the entertainment opportunities and the lanes of this area with Melbourne and Sydney.

"With the fashion precinct of High Street bordering south of Lichfield (SOL), Christchurch now has an area of the city that attracts and holds visitors. This is not something that could have been said of the centre of the city 10 years ago.

"The council has a vision to revitalise the centre of the city, targeting a possible population of 30,000 inside the four avenues. The mixed use philosophy with retail and high density living, as already evidenced by SOL, is perfect for getting people to live, work and play in the centre of town." he said.

While applauding the four centre city purchases, (two Para Ruber sites, Penny Cycles and Electrolux site) Doig was surprised with the Sydenham Square investment, believing there were other central city sites owned by Henderson that were better aligned to the Council's vision for inner city development.

ENDS

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