Two immaculate Christchurch central city post-earthquake builds, both with strong tenant covenants, boast the fundamentals that investors are seeking.
Marketed by Courtney Doig, Director of Investment Sales at Colliers Christchurch, and Managing Director Hamish Doig, the properties comprise a bulk retail investment and an office building.
Going under the hammer on 12 June is the retail offering on the corner of Fitzgerald Avenue and Ferry Road, one of the busiest intersections to the east of the central city and close to One New Zealand Stadium that is due to open next year.
The property consists of two modern buildings constructed in 2016 by the well-regarded Peebles Group and leased to industry-leading brands Repco and Mag & Turbo Tyre and Service Centre. Repco occupies the corner location, while Mag & Turbo fronts Fitzgerald Avenue, ensuring maximum exposure to passing traffic.
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The conventional design of the buildings provides flexibility for a variety of future uses if the current tenants shift longer term.
"The prime position of the site and easy access to the road traffic network makes this an extremely popular city fringe location.
"It's a highly developed area and set to further benefit once the new stadium opens, which promises to transform the local landscape and enhance both residential and commercial growth in Christchurch," Courtney Doig says.
"In addition, the area is poised for substantial growth, with several other major developments underway together with upcoming infrastructure upgrades that will continue to enhance its appeal and value.
"Easy access to major transport routes ensures seamless connectivity to the wider city and beyond, making this property a prime city fringe asset."
The second property is a modern two-storey, multi-tenanted office building at 31 Dundas Street with the major drawcard of 30 on-site car parks.
The building is 100 per cent occupied by TVNZ, Radio NZ, and Fairway Resolutions, all national organisations attracted by the property s strategic location, excellent natural light, and generous car parking ratios, Doig says.
Also zoned Central City Mixed-Use Zone, it is for sale by deadline private treaty closing 12 June.
The 1,271sq m building is situated between Manchester and Colombo Streets close to the central city in the eclectic SALT District, a vibrant mixed-use catchment that blends urban living with commercial spaces.
"This area of the city has quite a distinctive feel and is an ideal location for businesses and residents seeking a lively, central hub. Its proximity to transport links, shopping, dining, and recreational options make it one of Christchurch's most sought-after destinations for modern living and business growth," Doig says.
"These are quite distinct assets but both have the benefit of being post-earthquake builds in great locations with excellent tenant covenants and are set to appeal to investors seeking strong fundamentals."
- Supplied by Colliers
