CBD purchase deadline late 2013

12:08 pm on 1 December 2012

A Government agency in charge of developing central Christchurch says it could be the end of next year before it completes the purchase of 761 properties needed for its blueprint plan.

The Christchurch Central Development Unit on Friday announced it had signed its first land deals since letters were sent to owners nearly four months ago.

So far, only three properties have been purchased.

Director Warwick Isaacs said he expects to have another 70 deals signed before Christmas and all properties purchased by the end of next year.

Although the Government has the power to compulsorily purchase land, Mr Isaacs said it has not done so yet.