No loNger A mAybe. It’s happenIng

CommerCIAl INSerT

South Island Commercial (2004) licensed under the reAA 2008

Rebuilding Christchurch

South Island Commerical (2004) Limited Licensed under the REAA 2008

Rome wasn’t built in a day

Impatience around lack of progress in the Christchurch CBD is misguided. I believe it’s important

to acknowledge and celebrate how far we’ve come in rebuilding our central city.

It’s easy to forget that work on the developments that are already out of the ground, or on which work is poised to begin, was actually started back in 2011. These developments, largely being undertaken by private Christchurch investors, take years of planning before you actually see a stake in the ground. So, when you consider that, the progress is pretty rapid.

During the past four years, there has been a huge amount of action behind the scenes as investors have consolidated their parcels of land to make for viable development opportunities. Yes, some have taken their money out of Christchurch but they’re the minority and there are plenty

Hamish DoigManaging Director

number ONE

of other investors queuing for a slice of the action.

The blueprint is certainly starting to unfold now and we’re really beginning to gain momentum in the central city. Walking around the CBD readily gives you a very clear view of the enormityof the projects that are under way. I’ve lived in Christchurch all my life and I’m hugely encouraged by the scale of what’s happening.

I think that in 10 years the majority of the framework, anchor projects and private enterprise developments in the CBD will be in place. Remembering that four years has already elapsed, that’s only six years away. Ultimately it will be a fantastic vibrant city, a gift to future generations.

In my view, it will be 20 years before the central city is truly complete and settled into its new skin.

At Colliers International we’re excited by what’s unfolding in Christchurch and our part in bringing people back to the CBD.I hope you’ll enjoy reading this lift out, which looks at some of key developments in our city. We have included a double page map of the Christchurch CBD which shows the commercial recommitment to the city.

Let’s celebrate the future.

Colliers InternationalLevel 1, 137 Victoria Street

PO Box 933Christchurch 8140

New ZealandTel: +64 3 365 7887

www.colliers.co.nz/Offices/Christchurch

“ “....it will be a fantastic vibrant city, a gift to future generations.

Jonathan Lyttle

021 535 995

jonathan.lyttle@colliers.com

Helen Weideman

021 270 0015

helen,weideman@colliers.com

Nick Doig

021 944 722

ryan.geddes@colliers.com

South Island Commercial (2004) Limited Licensed under the REAA 2008

Ryan Geddes

021 395 518

ryan.geddes@colliers.com

Will Franks

027 250 0130

will.franks@colliers.com

Now that several new projects are underway and major office tenants have committed to returning to the CBD, both national and international retailers are weighing up their options. Further encouragement for them is the prediction that by 2017 there will be 15,000 office workers within 300 metres of the Retail Precinct – stretching along Cashel Mall through to High St.

The precinct is dominated by four major developments. Cashel Square, on the former Shades Arcade and Whitcoulls site opposite Ballantynes, is attracting strong interest; The Terrace holds a prime spot, ANZ Centre (on the old Triangle Centre site) has excellent retail exposure as does The Crossing on the opposite corner of Cashel Mall and Colombo St.

Retail leasing specialist Nick Doig is currently negotiating with several high profile brands seeking space in the new CBD. “These are both retailers who were previously in the central city and also international brands who are using the opportunity to plan their debut in Christchurch. The new landscape will offer a far better shopping experience than previously. Retail will be concentrated in a pedestrian friendly area, with laneways, attractive public spaces and easy access. Boutique stores will marry with larger format, offering a superb blend of retail for a compelling shopping experience.

“At the end of all this, Christchurch will have a compact and functioning heart centred on the Avon River precinct.”

Office tenants lead the CBD returnA rash of new building announcements in the past few months are giving substance to how the new CBD is taking shape.

General manager Jonathan Lyttle says the rebuild was always going to be led by the major office tenants.

“Behind the scenes, landlords and tenants have been partnering up. Deals are being announced. Positions on the Monopoly board are clicking into place and the shape of the new city is becoming clear.

“The pairing of tenants is really important – there are synergies that work really well together.

“The blueprint is delivering on its promise of creating a more logical, people-friendly and condensed city core.

The banks are committing to locations in the retail precinct between Oxford Tce and Ballantynes. With Nick Hunt and Tim Glasson building half-block developments right next to Antony Gough’s, The Terrace, there will be $ 1/2 billion in investment just on that side of Cashel St.

“We expect 150,000 to 180,000m2 of office space to be rebuilt or repaired in central city by 2017. “In the next couple of years, a second wave of tenants wanting

to return to the CBD – generally medium sized – will start to rejoin the market. That will swell the above figures by a further 25 per cent.”

Lyttle says the old CBD was fragmented. It had 455,000m2 of lettable space, but nearly a fifth of it was empty, with only 380,000m2 actually occupied. The majority was older C and D grade space.

“The city was so over-built that every worker had around 40 per cent more personal space than the national average.“Now that the CBD is going to be far more condensed, with lanes and courtyards, shops below and businesses above - it will have a lively buzz.”

Colliers’ leasing broker Ryan Geddes says that within three years, there will be approximately 15,000 people working within 300m walking distance of the retail precinct.

“It’ll be a condensed little city which will be fantastic for employees who want to wander down to the cafes and shops in their lunchbreaks, or after work. All the tenants we’ve been dealing with, tell us that a move back to the CBD is viewed as a significant factor in recruiting and retaining quality staff.”

Retailers poised to sign for city’s new developments

More local experts to help rebuild Christchurch.

ANZ Bank New Zealand Limited 09/14 17068

Find out how we can help you, speak toRodney King on 03 368 2280 or John Styles on 03 368 2391 today.

Together with our clients, partners, industry colleagues and community, we’re playing our part to grow, reshape and rebuild the city that’s been Beca’s home for 50 years.

We’re looking forward to the day we’re right into the middle of it all - literally - when we move into our new CBD premises.

And most of all, we’re looking forward to the future we’re creating together.

Transforming Christchurch Together www.beca.com

leighsconstruction.co.nz

We’ve shifted from a period of post-earthquake demolition to playing a major role in building the future of Christchurch. In a competitive industry, we know how to make our mark and exceed client expectations.

We rose to the challenge of converting 123 containers into Re:START in only two months, are proud to be able to call The Stranges Building our new home, and are excited to be underway on a number of major CBD office and retail builds.

Laying a firm foundation for future in CBD

Building innovation, knowledge & experience into every project.

ANZ Centre Re:START

Cashel Square Stranges Building

Re:VISIT

Hereford St

Cashel StMontreal St

Oxford Tce

Colom

bo St

High St

Manchester StLichfield St

Tuam St

St Asaph St

Car parking Re:START Ballantynes

We’ve moved part of Re:START to the south side of Cashel. Our retailers now span from the Riverside Precinct through to Ballantynes. It’s your chance to get

reacquainted with Re:START’s vibrant atmosphere and our great selection of giftware, fashion, homeware, food vendors and cafes. Open from 10am daily.

Keep updated at facebook.com/restartchristchurch. www.restart.org.nzSupported by The Christchurch

Earthquake Appeal Trust & CCDU

Visit Re:START’s awesome retailers today and see

our new Riverside Precinct.

Clothing, shoes, fashion & banks

Homeware, gifts, cafes & markets

Think Inside...

Ryan Geddes021 395 518ryan.geddes@colliers.com

Nick Doig021 944 722nick.doig@colliers.com

South Island Commercial (2004) Limited Licensed under the REAA 2008

www.cashelsquare.co.nz

Construction is now in full swing on the new Cashel Square complex, opposite Ballantynes, that will cover almost half a city block.

Cashel Square has an 80 metre frontage to Cashel Mall and is located between Cashel, Colombo and Hereford Sts, on the landmark Shades Arcade, Whitcoulls and the Old Weekly Press site.

Developed by Nick and Sue Hunt, of Lichfield Holdings, it features ground floor retail and four levels of office space - looking into a 1000m2 green public square at the heart of the block. The design incorporates several laneways, including a dramatic glass roofed atrium, leading from Cashel Mall and Hereford St.

“I’ve always been a fan of Cashel Mall. It’s an iconic area with a great feel. I think Cashel Square will really help to enhance that ambience.”

Total office space approximately 17,600m2 being built in two stages; Stage 1 being the Hereford St frontage and Stage 2 onto Cashel St. Open floor plates provide great flexibility for leasing requirements, with typical office floors plates up to 3,196m2.

Ryan Geddes, office leasing specialist for Colliers International, says leasing is already well advanced with the BNZ taking naming and signage rights, together with 2500m2 of office and retail space. The Government has already leased 9100m2 to agencies including Statistics New Zealand, ACC, NZ Transport Agency and the Department of Internal Affairs.

The retail space comprises 4908m2. Colliers retail specialist Nick Doig says tenancy sizes are available to suit, with multiple options from 18m2 to 850m2 catering for food & beverage retail and smaller specialty to larger format flagship stores.

“We already have negotiations well advanced with several retailers who are keen to be part of Cashel Square.

“This is an excellent location for retailers. There’s an immediate customer catchment of office workers above. The large green central public space will create a unique environment for staff and shoppers. Cashel Square will also benefit from great pedestrian linkages from Cashel Mall, Colombo and Hereford Sts through to Cathedral Square.”

Cashel Square will be more than 100% of the new Building Code Standard and has a high green rating.

For enquiries please contact:

Doughnut city is a phrase that gets thrown about occasionally. In the aftermath of the February 2011 earthquake it may have had some substance given central Christchurch was shut off from the rest of the city for safety reasons. But we have come a long way since then. The central city red zone cordons are long gone, new developments are announced or commenced almost every week, and the doughnut city theory is now a myth that has been well and truly dispelled.You need only look at the map in this supplement to see there are new buildings or commitments to development across the vast majority of the heart of our city.Whether it is commitment by the private sector, Crown or city

Disclaimer: CERA has made every effort to ensure that the information is reliable but makes no guarantee of its accuracy or completeness and accepts no liability for any errors. The information is the best available at the time of access but is not intended to be a substitute for specialist advice or to be used as the sole basis for commercial or personal decisions. CERA accepts no liability for any decisions made in reliance on this information and may change, add to, delete from, or otherwise amend the contents of this information at any time without notice.

Indicative anchor project delivery scheduleWarwick Isaacs

Central city progress dispels mythsBy Warwick Isaacs, Director of the Christchurch Central Development Unit

Last updated: June 2014

Indicative anchor project delivery schedule

council, big projects are starting to take shape and there is plenty of commercial building taking place or in the pipeline. We now know of over 240 commercial builds that have been newly built, refurbished or are under construction in the central city, with an average value of nearly $3 million.Notable new buildings include the Strange’s building in the Retail Precinct, the new Anderson Lloyd House, and the Awly Building taking shape opposite the historic Provincial Chambers. We can also look forward to The Terrace, Cashel Square and Triangle Centre developments on the way for the Retail Precinct, along with the car parking building on the

Central city progress dispels mythsBy Warwick Isaacs, Director of the Christchurch Central Development Unit

Crossing site and an associated commercial development by the Carter Group.Then there are the exciting developments to come by Vodafone and Kathmandu in the Innovation Precinct, the Music Centre of Christchurch development to begin this year in the Performing Arts Precinct, the new PricewaterhouseCoopers building in Cashel Street, and the UniMed development in Gloucester Street.All of these developments bring workers and customers back into the central city, and with them more activity and vibrancy.The numbers tell the story about how dramatically things are ramping up.Comparing the building consents issued in the CBD for the January to April period, we see a big jump from a low of 19 consents in 2011, to 86 consents issued in that period this year.The total value of consents issued rose from $4 million in this period in 2011, to $43m last year, to almost $189m this year.Property firm Colliers now predict that within three years about 10,000 people will be working within 300 metres of the Retail Precinct, rising to 15,000 within four years.The Avon River Precinct, Bus Interchange, Justice and Emergency Services Precinct and Retail Precinct are well underway, and other anchor projects are close to physical construction or well advanced in the planning.The confirmation of the return of 1100 public service workers from 13 agencies to Christchurch’s CBD by 2016, all of them housed in three new privately owned commercial buildings, will also help make the CBD a busy and vibrant place to come for work, shopping, entertainment or business.We have seen the introduction of a transport plan, An Accessible City, to make the city more appealing for all transport users, and there is now a draft plan aimed at making residential development more appealing in the central city.The progress on the repair and rebuild of the central city infrastructure such as roads and underground pipes has also been very strong, with 90 per cent of it expected to be complete by the end of this year.All of this adds up to an exciting picture of what our new central city will become - one which makes our whole region thrive, and can make our generation and future generations proud.More information on progress in central Christchurch can be found at www.ccdu.govt.nz.

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6281980AA

The map shows how the anchor projects and precincts, with their strategic positioning in the city, have underpinned significant private investment which is becoming more obvious by the day. These anchor projects and the development of the various precincts have provided a framework of certainty enabling the private sector to now move forward with confidence. An active involvement right across central Christchurch will result in our city once again having a thriving heart. Almost all of the land in the central city is now spoken for, as the map demonstrates, in terms of specific public and private developments.

Every day we are seeing more certainty with respect to anchor projects and precincts and more involvement by the private sector. This activity is being led by the Justice Precinct and Convention Centre project. This is resulting in new buildings, firming up of new tenants and the evolution of new business models as people adjust to “going somewhere new” in the context of our central city. New retail propositions, anchored by the already strong retail offering in our central city, are starting to crystallise. We are seeing new hospitality offerings being well supported by the public who are crying out for places to play inside the frame. The horizontal infrastructure is now well advanced in terms of repair and we are now moving rapidly into the stage of vertical infrastructure developments (buildings).

While we still have a few buildings to demolish in the central city, we are now seeing many more cranes putting up buildings than taking them down. Every day we are seeing new developments in the central city as both the public and private sectors initiate rebuild programmes. Our central city will grow organically from various nodes underpinned by the anchor projects and precinct development. We will eventually link activity within the frame together, in conjunction with the development of the Avon River precinct. There will be far better utilisation of the river and the land around it and we are going to see an extraordinarily attractive offering.

I have been privy to some of the designs proposed for the private sector rebuild inside the central city and I am really excited at the obvious effort that has gone into creating beautiful buildings that will make a very positive statement about greater Christchurch. We all know the central city rebuild is going to take time, but now through the issuing of this map we know much more about what is happening and how much investment is now involved. We need to get a better fix

Peter Townsend, Chief Executive, Canterbury Employers’ Chamber of Commerce

Central City Crystallising

on the dollar quantum of the investment in our central city, the firming up of tenants for the buildings that are now planned for, and how the evolving transport infrastructure will play out in the support of the optimal servicing of the core of our city.

Four years after the first earthquake we now move into the opportunity end of our recovery and everything I see occurring in our central city gives me enormous optimism. We will all be part of creating a central city that is aspirational, functional and meets the environmental, social and economic needs of the capital of the South Island and its future generations.

Congratulations to Colliers International for taking the initiative. They have provided us with much more certainty about our future and for that we can all be grateful. I am also appreciative of the good work being done by CERA and the CCDU for increasingly disseminating information that allows the private sector to make wise investment decisions within the four avenues. We are grateful to you all.

Peter TownsendChief Executive Canterbury Employers’ Chamber of Commerce

The Canterbury Employers’ Chamber of Commerce is delighted to support the publicity of the new map put together by Colliers International with input from various stakeholders. It clearly demonstrates that available land inside the frame is disappearing quickly and the cynicism around the future of our central city can now be completely dispelled.

The new home of

At the heart of the city

Early next year we will

be moving to our brand

new offices at 151

Cambridge Terrace.

This will put us right at

the centre of the business

community, where we can

support the re-growth and

rebuilding of Christchurch.

www.deloitte.co.nz

South Island Commercial (2004) Limited Licensed under the REAA 2008

INNOVATION PRECINCTIt covers approximately 3.6 hectares in the south-east corner of the Urban Frame and is located within three city blocks bounded by Lichfield, Manchester, St Asaph, High, Tuam and Madras Streets.

The precinct brings together businesses and innovators alongside residential, retail, hospitality and cultural institutions.Calder Stewart is building new $50 million South Island headquarters for Vodafone in the heart of the city’s innovation precinct, housing 350 Christchurch staff with capacity for up to 900.

The four-level Tuam St building is expected to be ready to occupy in early 2016. It will also house the Xone incubation hub in partnership with Callaghan Innovation. This ‘’technology playpen’’ will have facilities for between 10 to 20 technology start-ups for the city’s entrepreneurs.

Vodafone’s decision to locate in the Innovation Precinct is a clear indication and endorsement that the market has confidence in the vision for this precinct.

Kiwi retail giant Kathmandu is also building $20 million new headquarters in the precinct. It will house over 150 Kathmandu staff and have a five-star environmental rating.

Kathmandu will move in early 2016.

Kathmandu: taking on the world from Christchurch’s new CBDKathmandu is excited about the future of Christchurch, and we have recently committed to the growth of the Christchurch CBD by announcing our move in early 2016 into a new three-storey head office building. This will be built in the Innovation Precinct on the corner of Tuam and Madras streets.

The purpose-built building reflects Kathmandu’s strong commitment to social and environmental responsibility, with a certified 5 Green Star Design and Build Rating.

The Innovation Precinct was the clear choice for Kathmandu as a location that supports the evolution of our Australasian business into a global leader in outdoor travel and adventure gear. Kathmandu is very excited about the future of Christchurch and is looking forward to taking on the world from its new CBD location.

INVESTING in the future of ChristchurchCanterbury Property Investments are long-term developers and investors. We are born and bred Cantabrians with strong local connections and relationships, and we are committed to the rebuilding of Christchurch. With a proven track record, we have already completed several new developments in the city, and have many more underway both in the CBD and near the southern frame.

We see a vibrant inner city already emerging on both sides of the Avon, and we are delighted work is in full swing on our new landmark Warren and Mahoney building on the former Scales site on the corner of Cashel and Montreal Streets. We are also exploring a number of other key development sites in the CBD to the east of the Avon.

Just to the south of the southern frame, we have developed new office and hospitality spaces, all of which are fully leased.

We are committed to working alongside tenants to deliver cost effective, tailored solutions for their space requirements to enable their return to the Christchurch CBD.

Miles Yeoman: 021 354 499 miles.yeoman@me.com

Craig Newbury: 021 925 101 craig.newbury@me.com

Canterbury Property Investments Committed to working alongside tenants

Southwark Street

Allen Street

St Asaph Street

WARREN AND MAHONEY LOOK FORWARD TO A MOVE BACK INTO THE CENTRAL BUSINESS DISTRICT OF CHRISTCHURCH. —

Whilst being located on the fringe of the city allowed the firm to continue practicing in safe and secure premises it was clear that not being centrally located was disadvantaging our clients, fellow consultants and staff alike.

People in some instances were having to travel from one side of the city to the other to come to work or to

meet. Proximity to hospitality and meeting venues was being compromised, but most importantly was the sense that we were not yet part of the rebuild.

Our third move in three years has us in the CBD fringe and our final move next year will have us in a new building on the corner of Montreal and Cashel Streets, currently under construction.

In conjunction with fellow land-based consultants we will be tenanting a building being developed by CPI and built by Ganellen in just under 12 months. We look forward to a very positive engagement with a new city; a city that is creating new buildings, spaces and places within an existing urban framework to create one of the best cities in Australasia.

Cutting the Christchurch Art Gallery off at its feet, gently lifting it, then placing it back on to shock absorbing pads is just one of several major contracts being undertaken by Fulton Hogan as part of the Christchurch City Council’s rebuild programme.

While traditionally known more for its road building capabilities and the products it supplies to the market such as aggregates and asphalt, over the last 20 years Fulton Hogan has emerged as a serious option in the heavy civil engineering field.

Tony Gallagher, Fulton Hogan’s Executive General Manager, Christchurch Rebuild, said being the design and build contractor for the $20 million Christchurch Art Gallery project, is both challenging and exciting.

“The Christchurch Art Gallery is a fascinating, but delicate, civil engineering project where we have to jack up the 30,000 tonne building so that 138 double concave sliding bearings can be retrofitted to base isolate the building. This is similar to the technique used at Te Papa and Parliament House.

“When the project is completed late next year, the Art Gallery will be one of the safest and most earthquake-resilient galleries in the world. Christchurch is known for its seismic risk, so in order to attract significant loans of art work, some worth more than the building itself, then the Christchurch Art Gallery must be able to prove it can keep these works safe,” he said.

Fulton Hogan has been heavily involved in rebuilding horizontal infrastructure in the CBD as part of SCIRT, and will continue to do so through until the end of 2016.

“There is a significantly large amount of project work coming to the market place. Our first priority will be servicing our long-standing clients and finding solutions for complex work needed as part of the rebuild.

“Fulton Hogan is much more than a roading business. On the Christchurch Southern Motorway we undertook all the heavy civil operations, including bridge foundations and over 20km of stone column ground improvements, all of which stood up extremely well under the impact of the earthquakes.

“We see ourselves utilising these skills in the building foundation and ground improvement market, where we can offer our customers design and build one-stop-shop packages to eliminate the interface issues created by multiple contractors, and deliver quickly and with certainty,” he said.

Contact Tony Gallagher Fulton Hogan Executive General Manager Christchurch Rebuild Ph 03 357 1400

Art Gallery spearheadsFulton Hogan expertise

Programme funded by

WORK IN THE CENTRAL CITYSCIRT is repairing earthquake damaged roads, bridges, wastewater, storm water and fresh water pipes in the Central City – the area between Bealey, Fitzgerald, Moorhouse and Deans Avenues.

SCIRT needed to get in early as our mostly ‘below-ground’ horizontal infrastructure work is timed to support the ‘above-ground’ rebuild work, such as anchor projects and large private developments.

Are we there yet?ALMOST - WE’RE TWO THIRDS OF THE WAY THROUGH OUR CENTRAL CITY WORK!

LATEST PROGRESSSCIRT is now 68 percent of the way through our work in the Central City.

Most of our Central City work will be completed in 2014, with structural repairs on bridges and some road repairs going into 2015.

By the end of the year we expect to be around 90 percent of the way through.

GETTING AROUND THE CENTRAL CITY With the most intense period of our Central City programme now behind us, you should start to experience fewer delays and detours from SCIRT work in the Central City.

To find the best route around the Central City check the Transport for Christchurch website – www.tfc.govt.nz.

SUPPORTING THE CENTRAL CITYMany central city shops, cafes and restaurants are open for business on both sides of Cathedral Square. Go the extra mile to support businesses affected by rebuild roadworks – even if it means taking a detour or walking a bit further.

The Antigua Street footbridge was lifted out of its position in July and taken away for earthquake repairs.

The Chester Street West Pump Station in the Central City during construction.

SCIRT’s Fletcher crew worked on repairs in Park Terrace in the Central City earlier this year.

CITY-WIDE PROGRESS SCIRT is now halfway through the whole horizontal infrastructure programme. For the latest statistics go to www.strongerchristchurch.govt.nz and click on “More Progress”.

Email info@scirt.co.nz or phone 941 8999 | Twitter @SCIRT_info #chchtraffic | Check www.transportforchristchurch.govt.nz | Catch a bus www.metroinfo.co.nz or 366 8855 | Maps and works in your area www.strongerchristchurch.govt.nz

Awly Precinct287 - 293 DURHAM STREET, CHRISTCHURCH

Due For Completion August 2015Located next to the Avon River, opposite the historic Provincial Chambers, the Awly Precinct is in close proximity to some of the most exciting developments in the Christchurch CBD. The Convention Centre, Avon River Precinct, Cathedral Square and the Art Gallery are all within easy walking distance.

• Business continuity assured• Structure designed to IL3 - first for a large office building in Christchurch• Base isolated structure• Foundation on 30m deep concrete piles• Five Greenstar rating targeted• Efficient floor plans subdivisable to tenancies of 370m² to 2,500m²• 123 basement carparks• Large landscaped central plaza • Attractive ground floor retail with access to central plaza

Helen Weideman03 365 7887

021 270 0015helen.weideman@colliers.com

South Island Commercial (2004) Limited Licensed under the REAA 2008

Noel Gilchrist03 365 7887021 335 837

noel.gilchrist@colliers.com

Prospects strong in hotel sectorHotel activity continues to show renewed optimism and activity on the back of strong trading fundamentals and the recent announcement of the consortium named to develop the Christchurch Convention Centre.

Christchurch remains one of the key strategic cities within the Asia Pacific Region where global hotel operators wish to be positioned, says Dean Humphries, National Director of Hotels for Colliers International. The Christchurch hotel sector currently has under 2000 hotel rooms available, compared with more than 4000 previously, and further rooms will be required over coming years.

Colliers has been appointed to work with the new owners of the former Forsyth Barr building, who are planning to convert the tower to a circa 200 room upscale 4.5 star hotel. The Colliers Christchurch office recently sold this building to a local consortium in arguably the biggest ‘as is where is’ sale in New Zealand.

A similar process was undertaken by Colliers for the former Latimer Hotel, now Rydges Latimer Hotel. After a global search, the Rydges hotel chain was appointed to manage the hotel on behalf of the owners.

Earlier this year, Humphries was involved in the sale of the former 270 room All Seasons Cashel Street to the Russell Group of Companies for a price believed to be in excess of $7 million.

Russell Group is currently completing an extensive rebuild programme of the hotel. On completion in early 2015, it will add up to 280 more rooms to the heavily depleted Christchurch accommodation market. Humphries says that as the Christchurch rebuild continues, further hotel development opportunities will emerge.

“While the short term will continue to provide some challenges, particularly around new construction activity in the CBD, the medium to long term prospects remain extremely positive.”

CANTERBURY’S 10KM FUN RUN & WALK 30 Nov. 2014

McCarthy/Make_002 fb.com/summerstartersummerstarter.co.nz

#summerstarter14 @summerstarter14

South Island Commercial (2004) Limited Licensed under the REAA 2008

CLEARDOMINANCEColliers International is working closely with landlords and tenants as they seek new opportunities in Christchurch. Since the events of 2010/11 we have demonstrated our unrivalled commitment to the recovery of Christchurch city.

Thank you to all our clients and customers. Our results are your success.

CHRISTCHURCH Unrivalled expertise

Post event:

$600m+ SOLD

125,000m²+LEASEDOFFICE

The premium new ANZ Centre is a state of the art four level building fronting onto Colombo, Cashel and High - situated for prime retail exposure on the former Triangle Centre site.

Scheduled for completion at the end of 2016. Covering high-end ground floor retail and hospitality areas of 1700m2 and three levels of office, it sits opposite the new city car park and diagonally across from Ballantynes.

Anchor tenants ANZ and Beca have signed, and several retail spaces are being negotiated.

A light and airy atrium opening onto High Street features a hospitality area the likes of which Christchurch has never seen before.

Remaining vacancy is limited in this international calibre building.

Ryan Geddes, 03 365 7887, 021 395518, ryan.geddes@colliers.com

WE ALWAYS HOPED OUR NEW CITY WOULD BE SOMETHING SPECIAL. AND IT IS.

Architects: Esquisse – Sydney

PeddleThorp – Christchurch

Contractor: Leighs