The latest research from Christchurch Cityscope shows that commercial property sales’ value in Christchurch’s CBD have significantly increased in the past three months.
For the three months to June 2019 there were 10 sales at a total value of $64.2 million, compared to 8 sales at a total value of $14.4 million for the previous quarter. The latest data brings the twelve-month sale total to $150.8 million, a decrease from the previous 12 months when sales totalled $300.6 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope:
Notable sales in the June 2019 update of Christchurch Cityscope include:
- Hoyts EntX Cinema at 56-60 Lichfield Street, a 3-level complex comprising a food precinct on the ground floor with 16 dining outlets and 7 screens of approximately 10,800 sqm, built and officially opened in September 2018. Net lettable area 8,403 sqm. Developer, Calder Stewart Development. Architect, Ignite Architects. Before that it was used as the Re: Start Carpark, a public car park, which closed in January 2017. Former site of several two-level retail building, units and car parks, damaged by and later demolished after the earthquake of 2011, was bought for $48.8 million through Colliers International;
- Isaac House at 779 Colombo Street, a four-level plus basement brick office building in Neo-Georgian style, built 1927 and restored in late 2017 comprising of unit 1 on basement level, unit 2 on ground and mezzanine levels, unit 3 on level one, unit 4 on level two and unit 5 on level three, was bought for $5.075 million through Colliers International and
- 92 Lichfield Street, a three-level former warehouse of Sargood, Son and Ewen, which traded on this site from 1893 until 1973. Formerly known as MSC House, the warehouse was converted to a retail and office building as part of the 'South of Lichfield' (SOL) Square precinct redevelopment of 2007 and was damaged after the earthquake of 2011, was bought for $2.85 million.
Properties listed as for sale in the June 2019 update of Christchurch Cityscope include:
- 36-44 Oxford Terrace a car parking site of 1,762 sqm for sale through Otakaro Ltd;
- Vacant land at 595A Colombo Street, a 111 sqm block, which was passed in at a recent auction on June 7 and is still for sale through Ray White Commercial;
- 603 Colombo Street, a car parking site of 224 sqm being offered for sale as a development site through Bayleys and
- 180-186 High Street, a car parking site of 440 sqm available through Colliers International.
- Leasing opportunities listed in the June 2019 update of Christchurch Cityscope include:
- 65-67 Victoria Street, a four-storey commercial building completed in 2016 with retail on the ground floor and seven car spaces and a net lettable area 1,473 sqm, which has office space of 334 sqm each on levels 1, 2 & for lease through Colliers International and Bayleys Canterbury;
- 299-303 Durham Street North, a four-storey commercial building built in 2015, which has office space ranging from 200 to 832 sqm available through Colliers International and
- CPIT at 34-38 Allen Street, a 2-storey office building with parking for six cars in a courtyard, has office space ranging from 60 to 300 sqm available through Colliers International and Bayleys Canterbury.