The thriving town of Rangiora, the commercial centre of North Canterbury's Waimakariri District, is poised for another boost.
Waimakariri District Council is selling a pivotal corner site in the heart of the town’s popular shopping precinct.
The property, at 70-74 High Street on the corner of Ashley Street, is being marketed for sale by investment sales broker Noel Gilchrist and director of retail Nick Doig from Colliers Christchurch by expressions of interest closing 12 July.
The council bought the property in 2014 to facilitate a realignment of the intersection. Now that’s complete, they want to sell the surplus land and buildings.
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“This property offers so much. Refurbish, rebuild, or develop. It’s a prominent corner location, with 20m frontages to High Street and Ashley Street and spare land to the corner and plenty of parking on-site,” Gilchrist says.
“It’s a critical focal point within the Rangiora town centre; highly visible to both pedestrians and vehicles and sits prominently within the core of North Canterbury’s busiest commerce hub.”
Doig says High Street has returned to its best since the Canterbury earthquakes.
“Fashion stores, cafes, banks, and a variety of other retail uses are now well established in this popular shopping precinct. Specialty retail has flourished. Facades are a mix of character and contemporary, adding to the vibrancy and customer shopping experience.”
The land covers 2,002sq m in two titles and comprises a 451sq m building fronting onto High Street. Built in the 1960s, it is strengthened to approximately 100 per cent NBS.
Gilchrist says the building is a mix of open plan retail and office spaces with staff amenities and ablution facilities. There is also an external storage building and 20 marked out car parks.
The BNZ lease is until 30 April 2023. There are no further rights of renewal.
Waimakariri District Mayor Dan Gordon says the sale of BNZ corner is an exciting opportunity for the Waimakariri District.
“The high-profile site is considered to be the gateway to the main retail area of Rangiora and makes up one of the busiest intersections in the district. We look forward to this iconic site being developed in such a way that will further enhance the unique character of Rangiora and showcase the lively street environment, which has become synonymous with the town centre.”
- Article supplied by Colliers
