The latest research from Christchurch Cityscope shows that commercial property sales in Christchurch’s CBD have increased in number but are lower in total reported sales value. For the three months to September 2016 there were 10 sales with reported prices at a total value of NZ$12.9 million, compared to 9 sales with reported prices at a total value of NZ$16.3 million for the previous quarter.

The yearly figures are significantly down, there being 48 sales with reported prices at a total value of NZ$107.1 million for the past twelve months, compared to 88 sales at a total value of NZ$205.4 million for the previous year.

The table below shows sales recorded for the past eight updates of Christchurch Cityscope:

Christchurch Cityscope Quarterly Sales

 

Notable sales in the September 2016 update of Christchurch Cityscope include:

  • A three-storey office building with retail space on the ground floor and parking for 22 cars, at 122 Victoria Street, Christchurch, which was bought for NZ$3.6 million;
  • A single-storey workshop building which was refurbished and converted into a restaurant in 2014, at 153 Madras Street, Christchurch, which was bought for NZ$2.8 million; and
  • A 40-space car park at 246 St Asaph Street, Christchurch, which was bought for NZ$1.16 million.

Christchurch Cityscope Quarterly Sales

 

Properties listed as for sale in the September 2016 update of Christchurch Cityscope include:

  • A vacant lot of 1,156 sqm at 161 Kilmore Street, Christchurch, which is available through Bayleys;
  • A vacant lot of 392 sqm at 132 Lichfield Street, Christchurch, available through Ray White Commercial; and
  • A vacant lot of 339 sqm at 123 Worcester Street, Christchurch, available through Ray White Papanui.

Leasing opportunities listed in the September 2016 update of Christchurch Cityscope include:

  • A six-storey office building at 141 Cambridge Terrace, Christchurch, which has office space of 181 to 2,500 sqm for lease in September 2016 through Colliers International; and
  • A three-storey retail/commercial building at 673-681 Colombo Street, Christchurch, which has up to 747 sqm of retail or commercial space for lease through Grenadier Real Estate.

Commercial Research