224 Cashel St. Photo: Ōtākaro LtdŌtākaro Ltd has completed the sale of 224 Cashel St in Christchurch to Huadu International Management Group Ltd.HIMG plans to redevelop the former IRD building into a combined training and research medical facility specialising in the field of dementia care, incorporating retail and hospitality into lower levels. The sale includes the adjoining Cashel Chambers and car parking building. “The eight-storey, 16,000m2 building is one of the largest in Christchurch. Its redevelopment will be another significant step forward for the CBD,” says Ōtākaro Ltd chief executive John Bridgman. “The sale delivers both positive regenerative and commercial outcomes, as the restored parking building will provide further amenity for One Central residents.”The Cashel St building has been assessed to be between 45 per cent and 50 per cent of the New Building Standard and has been sold ‘as is, where is’.

Source: Otago Daily Times November 20, 2020 00:11 UTC