The latest research from Christchurch Cityscope shows that commercial property sales in Christchurch’s CBD have decreased in the past three months. For the three months to March 2018 there were 6 sales at a total value of $12.3 million, compared to 14 sales at a total value of $34 million for the previous quarter. The latest data brings the twelve-month sale total to $213.5 million, an increase from the previous 12 months when sales totalled $192.7 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope.
Notable sales in the March 2018 update of Christchurch Cityscope include:
- 152 Oxford Terrace, originally four storeys built in 1925, levels 5 and 6 were added later, on a 1,018 sqm site. The building was off-limits since the earthquakes of 2010/2011, which was bought for $3.75 million;
- Pentax House at 124 Peterborough Street, a three-storey plus mezzanine besser-brick building with a net lettable area of 654 sqm. Damaged by the earthquakes of 2010/2011 then refurbished in 2013. There is parking for around five cars on paved land to the rear, which was bought for $2.8 million and was onsold subsequently; and
- 155 Victoria Street, two linked buildings, a single-storey restaurant building with a two-storey office building along Dorset Street; damaged by the earthquakes of 2010 and 2011, on a site of 1,206 sqm, which was bought for $2.5 million.
Properties listed as for sale in the March 2018 update of Christchurch Cityscope include:
- 83 Victoria Street, a six-storey commercial/retail building of concrete and glass with a mirrored marble foyer, built in 2013 and situated on a 722 sqm block, which is for sale by deadline private treaty through Colliers International;
- 4 Armagh Court, a piece of 172 sqm vacant land. Former site of a two-storey office building, damaged by the earthquakes of 2010/2011 and later demolished, which is for sale through Bayleys;
- 244-246 Manchester Street, a piece of 986 sqm vacant land used as car park. Former buildings were damaged in 2011 earthquake and subsequently vacated and demolished in 2016, which is for sale by tender through Savills.
Leasing opportunities listed in the March 2018 update of Christchurch Cityscope include:
- 99 Cashel Street, a two-storey retail and office building, which has retail space of 570 sqm available through Colliers International;
- Lincoln House at 79-81 Lichfield Street, a four-level building with retail at ground level and office spaces above, refurbished and completed late 2017, which has retail space of 117 sqm and office space ranging from 99 to 1,300 sqm available through Bayleys Canterbury – Commercial;
- 791-797 Colombo Street, a three-storey building with retail on the ground floor and commercial on the upper floors, which has retail/office space of 242 sqm on ground level available through Bayleys Canterbury – Commercial and Colliers International.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe