It was designed by architect Peter Beaven in the post-modernist Christchurch style, and was the eighth tallest tower in the central city prior to its demolition.

[1] The Centra building featured a car park basement with a transformer helping supply power to nearby properties.

There were 16 concrete Dycore floors, a mezzanine area, and the penthouse roof was made from copper, covering two levels supported by a steel structure.

[4][1] In the early configuration of the building, there was a colonnaded banking chamber and multiple levels of uniform office space.

[6][10][11] In 2009, the hotel was significantly refurbished, including the lobby, bar, and 120 guest rooms, helping it receive a Qualmark 4 Star Plus rating.

In February 2012, Carter announced the project to demolish the tower was out for tender, but wouldn't elaborate on the condition of the building at the time.

[17][18] In 2017, the Christchurch city council included the former Centra Building site on their "dirty 30" list of properties considered dangerous or eyesores, regarding it as a hindrance to the rebuild effort.