Land occupied by three Cockram Motor Group dealerships is for sale in Christchurch. Photo / Supplied
Land occupied by three Cockram Motor Group dealerships is for sale in Christchurch. Photo / Supplied
A big prime land block in the Christchurch CBD, occupied by three Cockram Motor Group dealerships, is being sold by the Cockram family.
Courtney and Hamish Doig of Colliers International are marketing the sites for sale by private treaty closing at 4pm on Thursday April 26 unless sold earlier.
The property is strategically located between the Health Precinct, the new Justice & Emergency Services Precinct and a stone's throw from Cashel Mall.
It covers 6558sq m of land across 225m of high-profile frontages on Tuam, Durham and St Asaph Streets and can be bought as two individual parcels or one large parcel.
The total site will be dissected by the Southern Frame Laneway being built by the Crown and due for completion late next year.
Excluding the laneway area, Block A has a development area of about 3227sq m and Block B is around 3095sq m. Site coverage provisions allow almost the entire area to be occupied by buildings, with the exception of a 10 per cent landscaping requirement. The 17m height limit enables development of buildings of up to four levels.
"This land holding lends itself for smart developers to create a masterplan of international significance. It has the added benefit of significant holding income, through the Hyundai, Isuzu and CMG dealerships, while a developer works on plans and resource consents," Courtney Doig says.
The area for sale is depicted in this aerial photo in blue shading. Photo / Supplied
"A Commercial Central City, South Frame, Mixed Use zoning, encourages a wide range of activities, paving the way for an array of development opportunities including a hotel, serviced apartments, a car park, legal chambers, offices and retail."
The Cockram family bought the first parcel of land in 1975 and have gradually added to the holding as the dealerships have expanded. Today Cockram Motor Group has a variety of new vehicle dealerships including Hyundai, Isuzu, Maserati, Fiat, and Alfa Romeo. It also sells used and commercial vehicles.
Family spokesperson Matthew Cockram says, as a result of the Crown's requirements, the sites no longer suited Cockram Motor Group's needs.
He says Euromarque has already relocated and the remaining dealerships will be progressively moved to new sites, also to the south of St Asaph St.
Hamish Doig said a new development on the strategic site would benefit from the new laneway which provides additional frontage opportunities.
