- Cowlishaw Mews is for sale after losing half its land to a planned high-rise.
- The building offers up to $750,000 annual rental income and various development options.
- The $150m office tower next door will be Christchurch’s tallest in over a decade.
A multimillion-dollar Christchurch landmark has hit the market for sale after losing half its land to what will soon become the city’s most expensive and tallest high-rise building in over a decade.
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The architecturally-designed Cowlishaw Mews is one of three properties bought by Countrywide Group two years ago as part of its plans to build a $150m-plus office tower in the arts precinct.
Vivacity agent Aaron Pero said Cowlishaw Mews was sold by the renowned Clifford family to developers Richard Diver and Mike Sullivan in 2023. The sell-off also included a vacant site and a 1970s building that has since been demolished.
Popular Christchurch restaurant Fiddlesticks is the anchor tenant. Photo / Supplied
Some 1000sqm, including the carpark, were sliced off for the planned tower, leaving the architecturally designed building up for grabs.
Cowlishaw Mews was built in 1996 to house Le Bon Bolli, the fine dining restaurant created by award-winning chef Phillip Kraal and partner Helen Kraal. It was designed by Warren and Mahoney Architects and constructed using Canterbury clay bricks.
Popular Christchurch restaurant Fiddlesticks now occupies the main area of the building, with Pero telling OneRoof that a buyer could expect up to $750,000 a year in rental income.
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Diver and Sullivan had considered selling off Cowlishaw Mews’ 21 residential and office titles individually, but decided instead to focus on building their 12-level office block, 56 Worcester, next door.
Pero said some of the tenants had already moved out, giving potential buyers plenty of options. “Somebody could buy the building and just sell them [the titles] individually the next day. But I think there’s value in somebody either changing them to short-term accommodation or to doing a small renovation and selling them off.”
There had even been talk among interested parties about converting some of the existing office spaces into one-bedroom apartments.
The mixed-use building has 10 commercial spaces, 10 apartments and a restaurant. Photo / Supplied
Some of the two and three-bedroom apartments are currently vacant. Photo / Supplied
Pacific Tower, on Gloucester Street, is the city’s highest building at 86.5m and 23 stories. 56 Worcester will stand 43m high and is due for completion in 2027. Resource consent has already been granted, and piling is underway.
Pero said Cowlishaw Mews was in the heart of Christchurch’s art precinct and an area where developers were currently investing.
Boutique developer Brooksfield is also building six heritage-styled apartments and a corner store on Montreal Street. The former Noah’s Hotel, which is within walking distance, is also being refurbished.
Cowlishaw Mews is being sold by deadline. Pero said it was too difficult to give a price indication, adding that it would be “in the millions”.
- 294 Montreal Street, in Christchurch Central, is for sale, deadline closing December 11
