The latest research from Christchurch Cityscope shows that commercial property sales’ value in Christchurch’s CBD has decreased in the past three months.
For the three months to September 2018 there were 11 sales at a total value of $35.4 million, compared to 30 sales at a total value of $121.8 million for the previous quarter. The latest data brings the twelve-month sale total to $206.5 million, a decrease from the previous 12 months when sales totalled $317 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope:
Notable sales in the September 2018 update of Christchurch Cityscope include:
- 84 Peterborough Street, a two-storey office building with 16 car spaces and a site area of 661 sqm; 82 Peterborough Street, a two-storey office building with 10 car spaces and a site area of 703 sqm and 100-112 Peterborough Street, vacant land of 6,998 sqm, which were bought together for $9.31 million;
- Distinction Hotel at 12-14 Cathedral Square, a 4.5-star, 12-storey hotel comprising 179 rooms and facilities including a lounge bar and restaurant, function rooms, executive boardroom and executive offices, fitness centre and executive lounge, which was bought for $8.6 million and
- Building 4 at 85 Armagh Street, the sandstone former Magistrates Court building built in 1880 to 1881 on a site area of 4,086 sqm, which was bought for $4 million through JLL Christchurch.
Properties listed as for sale in the September 2018 update of Christchurch Cityscope include:
- 4 Armagh Court , vacant land of 172 sqm, formerly the site of a two-storey office building, damaged by the earthquakes of 2010/2011 and later demolished, which is for sale through Bayleys and
- 230 High Street, Unit 4, a commercial unit covering the whole of level 3; Unit 5, a commercial unit covering the whole of level 4 and Unit 6, a commercial unit covering the whole of level 5, for sale together through JLL Christchurch.
Leasing opportunities listed in the September 2018 update of Christchurch Cityscope include:
- 253-261 Moorhouse Avenue, a large two-storey building containing two retail stores plus office and storage space and parking for 83 cars, which has retail space of 2,064 sqm on ground level and 237 sqm on mezzanine level available through Colliers International Christchurch;
- 141-161 Cashel Street, a 6-level office building with retail tenancies on the ground level, which has office space of 2,250 sqm available through JLL Christchurch and
- 165 Gloucester Street, a four-storey commercial building with retail space of 415 sqm on the ground floor and 12 parking bays, has office space of 675 sqm on level 1 and 675 sqm on level 2 for lease through Colliers International Christchurch.