A 15-year-old started a fire that destroyed one of the old Sol Square buildings in central Christchurch.

Police said the arsonist was one of four young people investigators identified through information from the public and from central city security footage.

"After initial discussions, a 15-year-old from the group has been identified as having lit the fire and has been referred to Youth Aid," the police media centre said.

ALDEN WILLIAMS/FAIRFAX NZ Property developer Dave Henderson was upset by the fire.

"Police are still speaking with the remaining three youth[s]."

The fire broke out in the abandoned building, at the intersection of Colombo and Lichfield streets, about 4.45pm on July 14.

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Grant Matthew The Sol Square building was demolished because of the fire damage.

Firefighters had the fire contained by 9pm. It caused severe congestion throughout the cental city.

The building was demolished because of the damage.

Sol Square was a lively, popular central city hub of bars and restaurants in its prime.

IAIN MCGREGOR/FAIRFAX NZ Police were concerned about squatting in derelict central city buildings, including SOL Square, before the fire.

The owner of the Sol Square buildings has been locked in a long-running insurance battle, as the once bustling complex rotted away, despite interest from potential developers.

The site is owned by Tuam Ventures Limited, formerly operated by property developer Dave Henderson.

"The building was capable of being repaired. I'm a tad upset," Henderson said after the fire.