201 Halswell Rd, Christchurch because it was marketed on the market. Photograph / Equipped
Woolworths NZ is promoting its 21ha undeveloped Christchurch land web site the place it gained consent for a $300 million mixed-use business/housing hub.
Countdown property director Matt Grainger mentioned a big housing element was deliberate for the
web site at 201 Halswell Rd “and due to that, we’re trying to promote the location to a developer with experience in housing, with a leaseback on the finished grocery store. Now we have had a powerful curiosity within the property, however gained’t make any additional feedback till the sale course of is concluded”.
As much as 250 new houses, 32 flats, that pre-committed Countdown, workplaces, medical centre, childcare, gymnasium, cinema, meals and beverage operations are components of the scheme for the land.
Woolworths utilized to create 10 massive heaps for greater than 250 houses, 5623sq m of retailing together with a 3490sq m grocery store, 1300sq m of carparking, neighborhood actions, a childcare centre, swimming pool, cinemas, gymnasium and two-level residence constructing with 32 items.
Setting Court docket consent out in September permits for the brand new hub on Christchurch’s edge. That took three years to win.
In 2018, it sought consent for the mixed-use growth nevertheless it was not till final September that it gained that software to have useful resource consent granted for the scheme at 201 Halswell Rd/State Freeway 75.
Plans have been opposed by Christchurch Metropolis Council and an adjoining neighbour and property developer Spreydon Lodge, which the courtroom discovered was commerce competitors interference, in addition to the council whose arguments have been additionally rejected.
Getting the Setting Court docket case throughout the road will increase the worth of that land considerably.
Ads for the land mentioned a grocery store was deliberate.
“Countdown-anchored massive scale growth web site,” the gross sales marketing campaign seal.
The Commerce Fee mentioned final month it desires grocery store land banking to be banned. Its research out final month mentioned releasing up extra grocery retailer land would assist the nation get extra supermarkets.
Web site 201halswell.com reveals that potential for growth.
Brokers CBRE took your entire mini-farm to market in a deadline sale that closed on March 24.
“Anchored by a long-term lease to a Woolworths NZ subsidiary and with useful resource consent in place, the time is true for a succesful developer, with a powerful observe file, to take the mission ahead. With subdivision consent offering for 2 mixed-use retail tremendous heaps and 10 residential tremendous heaps anticipated to accommodate at the very least 250 residential dwellings, it is a uncommon alternative,” CBRD marketed.
Key pluses have been that it was within the rising and fascinating suburb of Halswell, 7km from the CBD, a 21ha greenfield growth alternative, had a transformative consented mixed-use scheme deliberate, long-term grocery store lease, housing and different facilities.
The grocery store enterprise compromised considerably on its preliminary plans by refining its proposal and shifting its grocery store 17m and shifting the placement of the gymnasium.
Spreydon Lodge holds present useful resource consents for its deliberate Halswell Commons housing and neighborhood hub to the north of the Woolworths’ web site. Stage one in every of that gained consent in December 2019 however should not but applied.
Spreydon opposed Woolworths’ plans claiming lack of integration and connection between the proposed buildings, destructive transport results, business actions increasing right into a residential neighbourhood zone and retail actions, together with speciality meals, beverage and leisure, adjoining to the busy Halswell Rd.
“Though considerably supportive of the proposal, with out amendments to sure components of the proposal, the council’s place was that the contents sought by Woolworths must be declined,” the September 7 determination mentioned.
The courtroom famous Woolworth’s proposal was non-complying on various grounds together with night-time noise limits in a residential zone. It cited supply and repair automobiles going to and from the property.
“Woolworths contends that Spreydon Lodge, as proprietor and developer of the adjoining land is a commerce competitor, because the retailing actions that it holds consent for are comparable to people who Woolworth proposes for its land; every are intending to offer a cluster of fine-grained retail, meals and beverage shops, whereas Spreydon Lodge additionally holds consents for various as-yet untenanted massive format retail shops that might probably accommodate a grocery store,” the choice mentioned.
Many precise or potential antagonistic results have been agreed to be not more than minor between Woolworths and the council.
Optimistic results would come with growing Christchurch’s housing provide, new neighborhood actions like a medical facility, childcare and public open house and the introduction of economic actions to satisfy the close by neighbourhood’s social and financial wellbeing.
What worth may Woolworths NZ expect for the land? It might be across the $30m mark.
The corporate was estimated to have spent about $3m successful that courtroom battle “in order that they’ll be wanting round $27m to $28m plus the price of getting the consent, so round $30m. They’ll need to get better prices at the very least,” one supply mentioned.
The property is listed as being valued at $27.05m for ranking functions. Present charges are $114,678, in accordance with the Christchurch Metropolis Council web site.