Holiday park eyed up by developers for retirement village and worker accommodation
A large freehold site with the potential to be developed into a retirement village or tradesmen’s accommodation is on the market for sale.
The 1.3 hectare site currently houses the Riccarton Holiday Park, providing a low-cost accommodation option close to city amenities.
Located just minutes away from Christchurch International Airport, Westfield Riccarton Shopping Centre, Riccarton Racecourse, AMI Rugby Stadium, and Canterbury University, the holiday park provides a large variety of accommodation options from self-contained cabins, to single rooms, tent sites, and caravan parking, sleeping a total of 200 people.
Riccarton Holiday Park has been placed on the market for sale as a freehold going concern and is being marketed by Bayleys Canterbury salespeople Peter Harris and Kate Mullins.
Mr Harris said the Christchurch earthquakes had generated considerable demand for accommodation in the city due to both the damage caused to buildings, and the increased number of tradesmen travelling to the city for employment created by the rebuild.
“The chance to purchase such a large block of land in such a well-positioned central area is rare and we have received considerable interest from both developers looking at the site for a potential retirement village, and also employers looking at it as temporary accommodation for their workers,” Mr Harris said.
Mr Harris said the demolition of some retirement homes in Christchurch, combined with an ageing population, had fuelled the demand for accommodation for the elderly.
“It is likely this demand will remain should a developer wish to utilise the land available with the Riccarton Holiday Park site,” he said.
“In addition, with the current shortage of rental accommodation in Christchurch, employers are seeking cost-effective alternatives to house their workers.”
Mr Harris said a prospective new owner could continue to operate the holiday park, or look to expand its capacity.
He said the holiday park’s clientele had become more diverse since the earthquakes, with more people opting to stay at the park long-term.
“Accommodation in Christchurch is currently at a premium and as well as domestic and international holiday-makers, local residents and workmen are choosing to stay there as an affordable option,” he said.
“As a result the park has benefited from a consistent revenue stream and relatively low vacancy rates, creating an attractive proposition for prospective owners.”
There are an additional three residential houses on site, one of which is currently utilised as a two bedroom manager’s accommodation.
On site facilities include a communal kitchen, wireless internet, a TV/lounge room, a BBQ area, and laundry. Rates range from $20 a night for a single tent site to $85 a night for a fully self-contained cabin.