$900m development plan, backed by Chinese investment, collapses

PHOTO: STACY SQUIRES/STUFF – The old Christchurch convention centre site on Kilmore St, opposite the Town Hall, remains vacant after the quakes.

An international consortium has failed to deliver plans to develop the $900 million Peterborough Quarter in central Christchurch, leaving authorities hunting for replacement developers to take on the project.

The private consortium has lost its option to develop the land – on and around the city council’s old convention centre – into a complex of shops, offices, restaurants, apartments, and a hotel.

Council rebuild company Development Christchurch Ltd (DCL) spent two years working with the consortium to try get the project off the ground.

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