Property battles rage in Christchurch CBD

Goodman Property Trust is locked in a David and Goliath battle for an anchor retail project in central Christchurch.

The Cashel St site is wanted by the stock-exchange listed property trust and its project partner Westpac, and is rivalling Ocean Partners – representing some of the seven owners of the site, for the project.

And the Canterbury Earthquake Recovery Authority (Cera) is in the middle, integrated plans for large blocks to be developed.

Both developer groups have lodge resource consent applications with Christchurch City Council this week.

In today’s print edition of the National Business Review, property editor Chris Hutching explains how Cera and Earthquake Recovery Minister Gerry Brownlee may soon need to make a tough call.

Meanwhile, active Christchurch developer Richard Peebles has plans to build up to 12 buildings in Christchurch’s city centre.

But like other central city developers he feels he is being frozen out as Cera seeks major corporate players for its rebuild plan.

Read more about the compulsory acquisition letters he received from Cera’s Christchurch Central Development Unit for two of his properties on the property pages of today’s National Business Review.

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Any company with a bit of sense would be wise and better off not to put their energy or money into the Christchurch CBD and dealing with this bunch of clowns!

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