The former home of Spagalimis Pizza in central Christchurch's Victoria St is for sale "as is where is" after sitting vacant since the 2011 earthquakes.
Following an insurance settlement, the owner – Aveley Company associated with Christchurch resident Susan Lysaght – has decided to sell.
The Spagalimis owners Richard Winter and Andrew Cooper have moved their operation down the road to Ironside House, on the corner of Victoria and Salisbury streets, where they are leasing the premises previously occupied by restaurateur Jonny Schwass' Harlequin House.
Colliers agents Philip Cooper and Noel Gilchrist are marketing the former pizzeria property.
Cooper said the significantly earthquake-damaged property provided "a great opportunity to add renewed value to the site through either a complete redevelopment, or a restructure of the present facilities”.
He said the property had multiple possible uses because of the recent developments along Victoria St, which is the northwestern gateway into the central city.
Some of the first new post-quake office, retail and hospitality buildings were developed on Victoria St.
The immediate surrounds include low-rise office buildings with ground level shops and restaurants and bars.
There are also several nearby large office buildings, which comprise a key office and hospitality precinct in the city.
The two-level building, at 155 Victoria St on the corner of Dorset St, has a floor area of 816 square metres and sits on 1206sqm of land.
"With dual frontages to both Dorset and Victoria streets, the site enjoys plenty of onsite parking that previously serviced the restaurant and upstairs offices," Cooper said.
The majority of the site is zoned Commercial Central City Business, which allows for mixed uses including office and retail. A small area on the western boundary is designated Residential Central City.
The freehold property will be auctioned on March 8.
Chris Hutching, Stuff.