Warehouse site to benefit from stadium precinct

A substantial inner-city warehouse property for sale near Christchurch’s new stadium presents a range of opportunities for occupiers, investors and developers.

The more than 1,000-square-metre freehold site at 295 St Asaph Street sits in the heart of the CBD, just a short walk from the new 25,000-seat One New Zealand Stadium.

Offered to the market for the first time in over 33 years, the property comprises a 963-square-metre clear-span warehouse with a small office, available with vacant possession.

The building has been strengthened to 100 percent of New Building Standard following earthquake works, meaning it is ready for immediate occupation on settlement.   Bayleys Canterbury salesperson Simon Lagan said the property was well suited to a range of uses.

“There is clear potential to leverage the stadium location, whether for hospitality, event-based uses, or even parking, given the scale of activity expected in the precinct,” Lagan said.

“Equally, the fundamentals stack up for more traditional industrial or trade occupiers wanting a highly functional building in a tightly held central location.”

The property is zoned Central City Mixed Use, allowing for a wide range of commercial, residential and service activities, with potential building heights of up to approximately 32 metres.

“This zoning underpins strong long-term redevelopment potential. Whether it’s residential apartments, office accommodation, or a mixed-use scheme, the site provides genuine flexibility,” said Lagan.

He said purchasers also had the option to secure holding income while planning future development.

“Vacant possession allows an owner-occupier to move in immediately, or to lease the building while working through longer-term plans.”

The property will be auctioned at Bayleys Canterbury’s Deans Avenue office on Thursday 23 April (unless sold prior), the day before the stadium hosts its first major event.

Located close to key CBD amenities including Te Pae Convention Centre, the Bus Interchange and retail precincts, the property benefits from excellent accessibility and profile.

Lagan said opportunities of this scale in the central city were becoming increasingly scarce.

“Positioned alongside a major new civic asset, this is a chance to secure a foothold in one of Christchurch’s most rapidly evolving precincts,” he said.