Big Christchurch Copper Ridge land block for sale

11:55 AM Friday October 3, 2014 Colin Taylor

Elevated view of 20 hectare Copper Ridge land, Christchurch – identified by yellow border - which is being sold with development plans for a new residential subdivision.

A 20 hectare block of Christchurch residential-zoned land, containing some on-site commercial buildings and including plans for 208 new sections and homes, is being offered for sale.

The new development, named Copper Ridge, sits on the corner of Halswell Junction Rd and Wigram Rd south-west of Christchurch City and is zoned Living G. The land block is located very near the Southern Motorway allowing easy access to the city.

Chris Jones and Steve Ellis of Bayleys Canterbury are marketing the land for sale with offers for the Halswell Junction site closing on October 22.

Jones says the proposed development encompasses eight individual adjoining titles which have been combined into one large-scale subdivision plan.

Eight hectares of the land has already been consented for residential development – featuring 80 medium density homes on sections ranging in size from 510 to 755 square metres.

Jones says the development encompassed eight individual adjoining titles which had been combined into one large-scale subdivision plan.

“With planning consent already granted for Phase One of the development, the first titles could be available for building during 2015, with the remainder of the land coming on stream over the ensuing 18 months.

“The Christchurch City boundaries continue to expand as new, well located parcels of land come to the market however, landholdings of this scale are becoming few and far between,” he says.

Jones says it’s hard to estimate the property’s value.

“Individual developers have their own build-cost structures as well as their own operating margins. As those vary from one potential buyer to the next, it’s impossible to forecast on their behalf what a likely sale price will be for Copper Ridge,” he says.

“Also, any incoming developers know that they can sell the sections at present which gives them confidence to commit to a long-term strategy.”

Multiple buildings are currently on the land – including five homes and some significant commercial buildings, he says. “Potentially the seven tenancies would provide a six-figure holding income while the remaining development consents were acquired.”

Jones says the continuing re-urbanisation of Christchurch following the devastating earthquakes has changed that landscape forever - with Halswell literally booming.

“Other quality developments in the area are selling very well and with significant new infrastructure, including a new primary school, coming to the area Halswell has become a highly desirable area to live,” he says.