Christchurch City Council records show the property on Main Rd has been purchased by Fletcher Residential Ltd for $5.5 million.
Fletcher Living confirmed it is investigating options for residential use.
A spokesperson said the development will be subject to a number of consents, which it will be applying for next year.
The company declined to give details about what is planned, but Bay Harbour News understands one option is to deconstruct part of the building but keep the structure.
That might include keeping the ground-level car park.
The city council confirmed building consents had not yet been lodged. It is unclear if the building will remain three stories or if it might be built taller.
The 2800 sq m site is zoned for commercial use.
Redcliffs New World was rebuilt in 2015, after the original supermarket was closed and then demolished following the February 22, 2011, earthquake.
The three-storey building cost $20 million and was 1700 sq m larger than the one it replaced. It employed about 100 staff.
Five years later, staff numbers had reduced by about 50 per cent and 19 then lost their jobs when the store was rebranded as Four Square in June 2020.
Less than a year later in April 2021, the Four Square closed as well.
Foodstuffs said at the time it was not sustainable and it was looking at selling or leasing the site.
-By Tony Simons
