Wolfbrook spends $42m on land for luxury parkside housing

Tuesday, 3 February 2026

The two blocks of land sold to Wolfbrook by Ryman for $42m.

Housing developer Wolfbrook is planning a range of luxury apartments, houses and townhouses after spending $42 million on land opposite Hagley Park.

In what is one of the largest development land deals ever done in central Christchurch, the company has bought two neighbouring Park Tce sites from retirement village operator Ryman.

Last year financial constraints led to Ryman abandoning consented plans to build a $240m retirement village on the land, which straddles both sides of Salisbury St.

Ryman then put the 6100m2 of land on the market. Real estate firm CBRE which handled the sale described the sites as “two of Christchurch's most prestigious landholdings”.

Wolfbrook Residential director James Cooney said they have three architectural firms preparing proposals for the land.

“We are just taking our time to get it right. The scale of it is large, but could be a smaller number of larger homes and big apartments.”

Wolfbrook directors James Cooney, left, and Steve Brooks.

The land is zoned for high-density housing up to a height of 39m, or 13 storeys.

The project could include an apartment tower and free-standing $6m to $7m homes fronting the park, with townhouses behind, he said.

“They will be high-end, very good quality. It’s a prestige location and we want to do the site justice.

The southern site bought by Wolfbrook previously held apartment towers.

“There’s certainly demand for the larger stuff.“

Cooney said they have already fielded interest from would-be buyers keen to buy a penthouse apartment in a good location.

“We’ve already had quite a few people put their hands up and say ‘we’d like a sizeable, expensive penthouse.

A view into the northern block bought by Wolfbrook.

“If you have a high quality product in the right location, the price is less important. Those buyers care about location, and they are prepared to pay for it.”

He said they will begin the development on the southern block, before moving onto the larger northern block. The project could take three to five years to complete.

Cooney said they expect “pushback” from “nimby” neighbours about their plans, especially where people’s views would be blocked.

There was opposition to the Ryman village, with local residents concerned about its bulk and height. After being redesigned, a plan for six buildings up to seven storeys high was issued resource consent in 2021.

The Bishopscourt Retirement Village in Park Tce was demolished after the earthquakes.

In the meantime the land has languished, attracting graffiti and rubbish and upsetting neighbours.

Before the earthquakes, the southern site housed a group of apartment towers up to nine storeys high. The northern site housed the Bishopspark retirement village.

An artist's impression of part of the proposed Ryman retirement complex on Park Tce, Christchurch. The plan was abandoned last year.

Wolfbrook Residential was founded in 2018 by Cooney and Steve Brooks, and began by building compact townhouses in Christchurch’s inner suburbs.

They have since completed 1000 homes, and have broadened their market.

The business has moved into more pricey parts of the city with land purchases in Fendalton and Merivale and the central city.

Last year it bought the former Smiths City property in Colombo St opposite South City Mall, and will build the $80m to $90m Quill Lane development there with more than 100 homes, priced up to $1m.

Wolfbrook has also expanded beyond Christchurch with housing developments in Auckland, Tauranga, Wellington, Kaikoura, Dunedin, Wānaka, and Queenstown, where its townhouses are selling for $1.5m plus. It also runs a sales office in Singapore.