Rural developments the latest venture

Rural developments the latest venture
CPI is a long-term investment company, retaining ownership of all its buildings either solely or in joint venture partnerships with investors or tenants.

Canterbury’s rural towns are providing solid opportunities for development, while Christchurch is in a more ‘business as usual’ mode.
That’s according to Miles Yeoman and Craig Newbury, of Canterbury Property Investments (CPI), who are currently developing the third and final stage of a bulk retail complex on a 1.2ha site in Rangiora by The Warehouse.
Finding the right tenants for the new shopping centre has been a priority, wit h the fully leased complex providing a welcome boost on the town’s eastside.
The line-up includes Briscoes along with Supercheap Auto, Animates, Warehouse Stationery, Hagley Aluminium, AMI, Lighting Plus and Pushbikes.
“Stage 3 is a separate building on a standalone site for Black and White Coffee, due to be finished this November,” Miles says.
Rangiora is where it all started for these two investors, who first joined forces to develop a building for the Ministry of Social Development in 2011, just across the road from the new shopping centre.
CPIL used Miles Construction was used for that initial project, which was completed on time and on budget.
The out of the box design was a great choice for Welles Street, one of the inner city’s coolest haunts boasting various funky hospitality options including Burger Burger and Coffee Supreme side by side.
It is also home to the Atlas Quarter’s new apartments and is close to Ara, Yoobee and Ao Tawhiti Unlimited Discovery.
Other developments from Canterbury Property Investments have included the Quest on Manchester, the Warren and Mahoney building in Montreal St, office buildings on Southwark and Allen Streets and Plato Creative’s building on Manchester St.
“The Warren and Mahoney building was quite a challenging project for us, as we were working alongside architects, engineers and quantity surveyors who were also tenants in the building; there was a lot at stake for everyone involved.”
Over the past 18 months, Christchurch’s com-mercial sector has quietened down and normalised after years of busy rebuild activity.
With the Rangiora shopping centre now nearing completion, CPI is gearing up to develop a similar retail complex in Ashburton.

Rural developments the latest venture
Quest on Manchester Street; one of Canterbury Property Investments many developments.

“It’ll be a next-year job: it’ll be on the old Ashburton Power Board site right in the middle of the bulk retail heart of the town,” says Miles.
Christchurch commercial activity is tipped to pick up again from 2020 once the convention centre Te Pae is completed and construction of the city’s new stadium gets underway.
In the meantime, CPI is also involved in a new development opposite the Bridge of Remembrance that involves the conversion of a former office building into an 84-room boutique hotel.
This is due for completion by the end of next year, tying in nicely with Te Pae’s opening.
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