Conditional agreement reached on 200 Armagh Street

Ōtākaro Limited and developers Box 112 have reached a conditional agreement for the sale and purchase of the former Municipal Electricity Department (MED) building at 200 Armagh St, Christchurch.

Ōtākaro Strategy and Property Opportunities General Manager, Keith Beal says Box 112 has the vision and the track record to deliver an exceptional new destination in the central city.

“Box 112’s proposed development will make visiting the neighbouring Margaret Mahy Family Playground and Rauora Park more enjoyable and living in the area more appealing for residents, including those in the One Central homes.

This conditional agreement follows Ōtākaro’s divestment of Crown land for the likes of the EntX complex, Quest Hotel and the under-construction Riverside Farmers Market. We expect the redevelopment of 200 Armagh St to further enhance Christchurch’s regeneration.”

Box 112 Associate, James Stringer, says the proposed development will consist of a range of businesses that will help make Christchurch a more globally recognised destination.

“We want to create an internal laneway through the building that seamlessly links the park to the playground, so the whole area becomes a vibrant place you can bring the kids, meet your friends or show off to international visitors.

Now that a conditional agreement has been reached with Ōtākaro we can continue discussions with prospective national and international tenants, with the aim of concluding the sale around the middle of next year.”

ENDS

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