Calder Stewart to sell Christchurch’ EntX

3:59 PM Friday November 30, 2018 True Commercial

The Hoyts EntX cinema complex at 617-649 Colombo St. Photo / Supplied

Christchurch CBD’s acclaimed new Hoyts EntX cinema complex is being sold by family-owned developers Calder Stewart.

The cutting-edge complex, at 617-649 Colombo St, opened in late September and is now for sale by deadline private treaty closing at 4pm on December 13, unless sold earlier.

Hamish Doig, managing director of Colliers International, Christchurch, and his colleague Philip Cooper are marketing EntX.

“Calder Stewart are developers rather than owners and so they are looking to reinvest the capital into industrial and commercial projects,” Doig says.

As anchor tenant, Hoyts occupies 40 per cent of the space on the second and third levels with 900 leather recliner seats spread in front of seven screens.

On the ground floor are 19 separate tenancies, occupied by hospitality operators including Cleaver & Co, Joe’s Garage and Nandos.

Located immediately opposite the Christchurch Bus Exchange, on the corner of Colombo, Lichfield and Tuam Sts, Hoyts EntX has a net lettable area of 8403sq m on 4488sq m of central city land.

Cooper says EntX is likely to draw both national and international investors, given the calibre of the property.

“International and national investors are showing strong interest in Christchurch and we expect EntX to attract considerable attention.

“As well as being opposite the Bus Exchange, it also benefits from its position between the two carparking buildings on Lichfield St and its connectivity to the CBD retail and office precincts.”

Calder Stewart is also selling the former temporary police station in St Asaph St.

It was built as a stop-gap until the Justice and Emergency Services Precinct was finished.

The large format single-level station, on a 1.6ha site, sits adjacent to the Metro Sports facility.

It was officially opened in 2013 as a replacement for the former city police station on Hereford St, after it was deemed unsafe.