The 13-storey tower in the CBD was damaged in the earthquakes and police staff moved out in late 2012.
Ngai Tahu Property (NTP) chief executive Tony Sewell said implosion and traditional demolition were the two options being considered.
Ceres NZ was working with NTP: the company was contracted to assist on the August 2012 implosion of Radio Network House - the first controlled building demolition by explosives in NZ. Ceres NZ: "At this stage we are in the very early stages of consulting with the owners and therefore are unable to make comment about the potential demolition."
Hundreds of people crowded into Latimer Square to watch the 14-storey Radio Network building come down - the early morning implosion went without incident. Ceres partnered with Controlled Demolition Inc., an American company with a track record of more than 9000 implosions.
NTP owns the Christchurch city block bordered by Montreal, Hereford and Cashel Streets and Cambridge Tce - an area of about 15,500 square metres.
The former police station was built in 1973 and was the 6th.tallest building in Christchurch at the time.