Good-quality commercial space at an affordable scale rarely changes hands in post-earthquake Christchurch – and 71 Gloucester Street is a case in point.
Two office units are available separately at the address.
Unit 5, at 193sq m, is tenanted and returning $83,842 per annum with more than four years remaining on the lease. Unit 6, at 155sq m, is offered with vacant possession, suiting either an owner-occupier or an incoming tenant.
Both include two tandem car parks, with the ability to tap into additional car parking nearby.
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“Particularly in post-earthquake Christchurch it's very hard to find nice, tidy, affordable units in the CBD,” says Colliers Christchurch Investment Sales Broker Marius Ogg.
“Recent builds are typically bigger, so there's very little comparable product – at least that's available – and definitely not in this area. These units are in the exclusive West End zone, located between Hagley Park and the commercial and hospitality core of the rebuilt central city.”
The wider development comprises 12 premium units, built to 110 per cent of the New Building Standard and held in stratum freehold title.
The complex was developed by the current owner, Amherst Properties, an established Christchurch developer with more than 25 years of experience in commercial office buildings.
They continue to maintain their own offices in the complex and describe the location as being in the heart of the prestigious professional office area on the Avon River.
Neighbouring buildings include Deloitte, White Fox Jones, and the Christchurch Art Gallery. Easy vehicular access and proximity to The Terrace, Te Pae Christchurch Convention Centre, Cashel Mall, and many local cafes make this a prime location for owner-occupiers and investors alike.
Both of the units for sale are zoned City Centre Zone, the principal employment and business centre for Christchurch and the wider region.
Ben Cameron, Investment Sales Broker at Colliers Christchurch, who is co-marketing the units with Ogg, says: “There's a distinct demand for footprints under 300 square metres from professional service firms such as recruitment companies, solicitors, barristers, and small accountancy firms. And there's plenty of them.
“These two solid, entry-level investment opportunities tick a lot of fundamentals – they are post-earthquake builds in the centre of town, and one is secured by a solid lease to a good tenant with circa four-and-a-half years to run. Unit 6 also provides an opening for an owner-occupier.”
The property is offered for sale by deadline private treaty closing at 4pm on Thursday 14 May, unless sold prior.
- Supplied by Colliers
