Mixed use tipped for old Press site

Last updated 05:00 05/07/2014

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A mix of apartments, offices, shops and hospitality looks the most likely use for the old Press building site in Christchurch's Cathedral Square.

The prime vacant land has been for sale in four lots since March, when owners Cristo became the second since the earthquakes unable to make development plans work.

The site runs through to Gloucester St between the Novotel and Rendezvous hotels, and includes Press Lane and sites either side of the new Press House.

Noel Gilchrist from real estate firm Colliers said one conditional offer from a would-be buyer had failed to go unconditional, but the property would go under contract again next week to another developer.

"We are now dealing with another party who is very interested," he said.

The new buyer wanted to put apartments and offices on the upper levels of new buildings, with space for shops and hospitality outlets below.

He said whoever the buyer, mixed-use seemed the most likely scenario.

"The focus in the city has been on the office market. More people now are considering a mix of residential and other uses."

There had been a lot said about inner-city living and several parties were going that way, Gilchrist said.

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- The Press

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