Big development block north of Christchurch

5:00 AM Wednesday June 7, 2017 True Commercial

A block of about 64 hectares within this photo and north of the Christchurch CBD is for sale through JLL. Photo / Supplied

A block of about 64 hectares of land, which was planned to be part of the Whisper Creek Golf Resort, about 8km north of the Christchurch CBD, is for sale through JLL.

The underlying zone allows for development into 4ha lifestyle blocks, says JLL’s commercial sales and investment broker Chris Harding.

The property contains two dwellings:

  • 242 Spencerville Rd has a 179sq m floor area and is currently vacant.
  • 240 Spencerville Rd, with a 215sq m floor area, is tenanted until June 15.

Harding says both dwellings are in good condition. “The property also has numerous sheds and farmland which has great leasing potential.”

“These lifestyle development holdings to the north of the city are getting harder to find, particularly with a flat contour and river boundary.”

The Whisper Creek Golf Resort didn’t eventuate leaving the large plot as an attractive purchasing prospect relatively close to Christchurch city.

“The area is popular with farmers because the soil has high natural fertility,” Harding says. “However, the real value comes in the development potential the site offers. The ability to split the site into 4ha lifestyle blocks already exists, which would allow for 15 sections. With two dwellings already on the property there is further income potential from day one, in addition to the lease of land to local farmers which is already in place.”

Spencerville Road.jpg

The property is roughly indicated by the red border, and is on Spencerville Rd, 8km from the city centre. Photo / Supplied

The site is in an area well suited to those looking for a lifestyle property, says Harding,

“It is close to Bottle Lake Forest Park with cycle and walking tracks and is close to Waimakariri River, popular for fishing and jet boating.”

National Research Manager for JLL Tom Barclay says Christchurch City is set for a growth of 22 per cent between now and 2043 - increasing from 375,000 to 459,000.

“We believe the site will attract international buyers because of the growth predictions for the greater Christchurch area and the substantial investment in infrastructure which is occurring northeast of Christchurch,” Barclay says.