Sought-After Central City Land For Sale

Media release for immediate use 25 September 2007

Sought-After Central City Land For Sale

At last – good news for the people who’ve been eyeing up a large area of undeveloped land in central Christchurch. After years of requests to sell it, the owner is offering it for
sale.

The property at 276 Madras Street has a prime city street frontage of more than 125 metres, combined on two established street frontages and complemented by rear lane
access.

It has multiple titles comprising six adjacent sites and a short-term holding income from car parking and residential rentals.

Marketing agent Anthony Byrne of Simes Limited says “We expect high interest in this property, because people have been asking to buy it for years.

“It’s a prime city site, just waiting for someone to develop it

“The property has a total of 3918 square metres of undeveloped L4B zoned land. That allows for intensive living with a 20metre building height, so it is very flexible.

“We expect it to interest a developer who wants to build accommodation such as apartments or similar on the site.”

Anthony Byrne anticipates a sale price in excess of $5.5million, after the deadline private treaty closes at 4pm on Friday October 19.

ENDS –

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