A prominent corner site on Colombo Street in Beckenham, Christchurch, gives owner-occupiers a rare chance to stop leasing and start owning in a popular suburb where retail vacancies are few and far between.
Offered with vacant possession, 124-130 Colombo Street is located on the south-eastern corner of Colombo and Tennyson Streets and is being marketed by Colliers Christchurch Director of Investment Sales Courtney Doig and Retail Leasing Broker Annabelle Bramwell.
The property is offered for sale by deadline private treaty, closing at 4pm on Thursday 5 November, unless sold prior.
The 1,497sq m freehold site is held across three combined titles and includes about 450sq m of buildings, with extensive on-site parking plus dual access from Tennyson Street and onto Colombo Street.
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“It’s quite unusual to have a vacant building in the area, so this property will likely appeal to owner-occupiers who have the means to own instead of lease,” Doig says.
The four connected buildings include a restored villa that began life as a private residence.
Earlier uses included a real estate business, a corner dairy, a TAB, and a fruit and vegetable store, reflecting the site’s longstanding place in Beckenham’s commercial centre.
Beckenham is an established suburb just south of the CBD, close to Cashmere and the Port Hills, with Colombo Street providing a direct route to the central city.
Local shops, cafes and services are backed by a strong residential catchment that includes Beckenham, Cashmere, and Somerfield, making it a convenient destination for everyday needs.
For Bramwell, the market speaks for itself. “Vacancy for local retail here is very low – it is attractive for businesses to be on this part of Colombo Street.”
For businesses weighing up another lease renewal, ownership offers certainty. It brings control over their premises, their frontage, and their future. Rather than paying rent into someone else’s asset, an owner-occupier can build equity in their own.
The site’s position delivers excellent exposure to passing traffic on both streets, along with an exceptional signage and branding opportunity.
Doig sees medical operators as a natural fit, particularly due to the excellent car parking ratios at the back of the property.
Subject to council approval, the property lends itself well to a medical hub.
Buyers could consider using the buildings in whole or in part, with the potential to split them into multiple tenancies rather than leasing one large space if the required council consent permitted this option.
“That flexibility would be a real drawcard,” Bramwell says. “An owner-occupier could take the space they need and look at bringing in other tenants for the rest.”
The large, prominent site also opens the door to refurbishment, reconfiguration, or residential redevelopment, again conditional upon council approval. “That’s also a very real possibility,” Doig says.
“For a business that’s ready to own, this is a chance to secure premises in a suburb that has already proven itself.”
- Supplied by Colliers
