Savills has today announced that 28 Cathedral Square, Christchurch - a key heritage asset within the city’s central business district - is now for sale.
Located in the historic Old Government Building, and currently operating as Adina Heritage Christchurch, the property is being offered for sale with vacant possession. The portfolio comprises 24 self-contained apartments (including 12 one-bedroom and 12 two-bedroom units) and 48 car parks.
With each apartment and car park individually titled under a stratum in freehold structure, an incoming buyer could sell or lease the units individually rather than continuing to operate the building as a hotel.
Ryan Geddes, Managing Director at Savills New Zealand, says heritage structures like the Old Government Building represent a rare architectural style for the city’s CBD, due to the 2011 earthquakes.
“Much of Christchurch’s central city architecture has been rebuilt, which has created a largely modern urban landscape,” he says. “Heritage architecture of this scale remains limited. Since each apartment is individually titled, the property provides a flexible platform for potential hotel operators, residential investors, or buyers”
The hotel reopened in September 2013 as one of the first heritage landmarks in Cathedral Square to safely welcome visitors back into the central city.
“The former government building was designed by Christchurch architect J.C. Maddison and completed in 1913. As such, it’s recognised as a Category 1 Historic Place,” says Martin Hebler, Associate Director at Savills New Zealand.
“It represents more than a century of the city’s history, and has been beautifully preserved and protected. We’re excited to present this ‘work of art’ to prospective buyers, and facilitate the next chapter for the iconic Christchurch landmark.”
The building includes on-site facilities such as a heated 20-metre indoor pool, gym, spa, sauna, and space occupied by the OGB Bar & Restaurant.
The method of sale will follow a Deadline Private Treaty, closing Thursday 19th November at 4pm - unless sold prior.
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For further information contact:
Elizabeth Easton
E: elizabeth.easton@savills.com.au
P: +61 481 980 052
About Savills
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