Rebuilding the Christchurch Central Business District
It’s been more than 7 years since the deadly earthquakes in Christchurch. The South Island city was the second most populous city in New Zealand at the time. Not only were buildings, schools, homes and businesses destroyed, but the lives of the people living in the Canterbury Region were changed forever. The 11 February earthquake, measuring a magnitude of 6.3 destroyed roads, heritage sites and left a path of destruction in the city centre and surrounding suburbs.
After years of reconstruction, fuelled by the US$26.5 billion Christchurch Rebuild movement, the now colourful city is back into business. Visitors to the city have increased dramatically, with December 2017 showing the highest number of passenger arrivals ever, according to the Christchurch City Council.
They have used state of the art infrastructure to rebuild business towers and to create world class institutes from the bottom - up, adding height to their skyline and hoping to prevent further devastation. The retail precinct and Avon River precinct are near completion and have noticeably improved the liveliness of the central city. The town’s beautiful and iconic Cathedral is being rebuilt, although it’s expected to take 10 years to complete. Upgrades to their famous Lancaster Park rugby stadium have also begun. The city has become a food and restaurant hub with relocations and new openings happening every day. Businesses are choosing to open new offices in the South Island’s revamped vibrant city, which was a construction site of cranes and rubble for a number of years. According to the Christchurch and Canterbury government, the region's economy has grown 31% in the past five years.
Although population figures declined and more than 212,000 people left the region in the two years following the quakes, according to the Christchurch City Council, “in 2017, the population surpassed the pre-earthquake population figure for the first time” and reached 381,500.
With the increase in residents, tourists and infrastructure, franchised businesses in Christchurch are booming! With low rent costs and the influx of travellers, Australian businesses have opted for a Christchurch location to cater for the demand for new trends and a variety of options.
According to Franchise New Zealand, “the latest GDP estimates released by MBIE late last year, highlighted the country’s regions to be growing strongly with parts of the South Island standing out in particular”, which saw Christchurch’s nominal GDP rise by 34.7%.
Some well known franchise brands opting for new opening sites in Christchurch include Ben & Jerry’s, Lollipop’s, Poké Me and Huxtaburger.
Get in touch today if you’re interested in opening a franchise business in Christchurch.