The latest research from Christchurch Cityscope shows that commercial property sales’ value in Christchurch’s CBD have increased in the past three months.
For the three months to March 2020 there were 11 sales at a total value of $35.6 million, compared to 8 sales at a total value of $12.9 million for the previous quarter. The latest data brings the twelve-month sale total to $177.5 million, a decrease from the previous 12 months when sales totalled $212.6 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope:
Notable sales in the March 2020 update of Christchurch Cityscope include:
- 85-91 Peterborough Street, comprising a single-storey showroom and office building to the west, a 2-storey showroom and office building to the east and another 2-storey showroom and office building to the north plus parking areas for a total of 88 cars, with a site area of 6,274 sqm, was bought for $11.1 million;
- 112-116 Cashel Street, a four-storey mixed use building comprising four retail tenancies of 420 sqm in total, five office tenancies of 1,239 sqm in total and a penthouse apartment of 249 sqm, completed in 2017, was bought for $10.075 million and
- 772-774 Colombo Street, a 1,011 sqm block, 107 Armagh Street, a 1,517 sqm block and 214-214A Oxford Terrace, a 510 sqm block, all used as car parking, were bought for $7.077 million.
Properties listed as for sale in the March 2020 update of Christchurch Cityscope include:
- Vacant land at 237-241 High Street, a 283 sqm block and 235 High Street, a three-storey retail building which has been damaged in the earthquakes of 2020/2011 available for sale through Colliers International and
- 603 Colombo Street, a car parking site of 224 sqm available for sale as a development site through Bayleys.
Leasing opportunities listed in the March 2020 update of Christchurch Cityscope include:
- Iwikau at 93 Cambridge Terrace, a 5-storey L-shaped office and retail building; completed 2017, which has office space ranging from 426 to 1383 sqm available through Bayleys Canterbury – Commercial;
- 167 Victoria Street, a five-storey commercial building with retail space on ground level, completed in 2016 which has office space of 402 sqm on level 1 available through Bayleys Canterbury – Commercial and
- 299-303 Durham Street North, a four-storey commercial building, built 2015 which has office space ranging from 200 to 832 sqm available through Colliers International.