A significant Christchurch property that has served the Laura Fergusson Brain Injury Trust for nearly five decades in Ilam is now for sale, with proceeds earmarked to fund the Trust’s exciting new purpose-built campus in Shirley.
The site at 277-279 Ilam Road comprises two freehold titles totalling 12,163sq m in one of the city’s most established residential suburbs, a few blocks from the University of Canterbury.
It is being exclusively marketed for sale by Colliers Christchurch Investment Sales Broker Will Franks and Director of Investment Sales Courtney Doig.
The sale marks a pivotal transition for the Laura Fergusson Brain Injury Trust, which has operated from the site for 47 years.
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Funds raised will go toward constructing what will be New Zealand’s first comprehensive rehabilitation, recovery, and supported housing hub.
“It is extremely rare that opportunities of this scale in an established location like this come to market,” Franks says.
“You have a significant landholding, existing improvements already in place, and a location that simply ticks every box – adjacent to Jellie Park, close to the university, and zoned residential in a suburb where there’s strong demand.”
The ready-to-use accommodation asset at 279 Ilam Road features 30 rooms with en suites, a single-bedroom unit, and six studio units with en suites, along with communal facilities.
A shared kitchen and lounge area provide residents with social and functional spaces beyond their individual units, lending the property a collegiate feel that is well-suited to student accommodation, supported housing, or a managed boarding house operation.
The 277 Ilam Road title in the property mix comprises an 837sq m stand-alone house neighbouring the accommodation facilities.
The property sale comes at a time when student accommodation is at a crisis point in Christchurch and demand far exceeds supply.
For any buyer looking to activate the site quickly, these shared spaces mean the property functions as a genuine community from day one – not simply a collection of rooms.
First-year students are struggling to secure places in halls of residence as the university continues to experience record enrolment levels and there is intense competition for rental properties in the area.
“After the settlement, a purchaser could undertake some cosmetic work and begin generating cashflow almost straight away, whether that’s leasing to a single operator, student accommodation, retirement housing, or a social housing provider,” Franks says.
“At the same time, the landholding provides genuine long-term development options.”
A long settlement is required for the Trust to transition to its new location, giving an incoming buyer a comfortable runway to plan their next move – whether their long-term plans mean continuing in shared accommodation or drawing up something entirely new for the site.
The Trust’s property is for sale through a deadline private treaty process closing at 4pm on 26 March.
Laura Fergusson Brain Injury Trust currently supports more than 1,200 clients at any given time across residential services and community rehabilitation programmes, making it the only provider of its kind in the South Island.
- Supplied by Colliers
