Rivals Compete for Central Christchurch Site

Ocean Partners

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

LIZ MCDONALD     The Press

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.