A joint venture has been formed between two leading New Zealand property investment entities to facilitate the redevelopment of the former Noah’s Hotel and the creation of a mixed-use scheme for central Christchurch.

Spanning some 4,879m2 with frontage to the Avon River, Worcester Street and Cathedral Square, this mixed-use site, including the redevelopment of the hotel, is widely regarded as the best development opportunity in the Christchurch CBD, and will add momentum to the city’s ongoing rejuvenation.

Representing a group of investors including Russell Property Group (RPG) and Lockwood Property Group, Mainland Capital director Ben Bridge said “The redevelopment of the property is a critical piece in unlocking the potential of Cathedral Square. Christchurch will benefit from an additional premium hotel offering and with the success of the Te Pae Convention Centre, along with the soon to be completed Court Theatre and Te Kaha Christchurch Stadium, the timing is right for this development.”

The joint venture between Mainland Capital and RPG has been formed to deliver the project. It brings together a complementary range of skills and considerable expertise in delivering complex developments. “We’re delighted to be partnering with RPG who are experienced in large-scale refurbishments and developments across a range of sectors, including commercial, residential, hotels and hospitality,” said Bridge.

RPG managing director Brett Russell said the Group is pleased to be working with Mainland Capital and that the acquisition of the site created a clear path forward for its revitalisation. “Our goal is to create something that complements the cityscape and brings together all stakeholders, including the people of Christchurch, the Christchurch City Council and Te Pae Convention Centre. This will be a fantastic outcome for Christchurch for a site that has, for some time, had a question mark over its future,” he said.

“Our plans include refurbishing the existing hotel structure to reinstate it to the premium hotel offering it once was. We will also be considering options for the balance of the site that will complement adjacent urban redevelopment,” said Russell.

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