A strategically located multi-tenanted commercial property in Central Christchurch is generating significant interest among investors eager to capitalise on the stable investment with a diverse tenant mix. The property is proximate to the new stadium, ensuring enhanced visibility and future growth potential.

The A-grade investment at 366 Tuam Street is near the corner with Fitzgerald Avenue and just 300 metres from the forthcoming One New Zealand Stadium.

Bayleys Christchurch salesperson Alex White says the property is particularly appealing at a time when demand for well-located commercial real estate is on the rise, driven by economic recovery and increased business activities in Christchurch’s Central Business District.

“The central location ensures excellent accessibility and visibility, enhancing its appeal to high-profile tenants.”

White is marketing the property with Bayleys colleague Stewart White, for sale by Deadline Private Treaty, closing at 4:00pm on Tuesday 27th August (unless sold prior).

The modern property encompasses three buildings constructed at various stages. Building A was built circa 2014 and provides 461sqm (more or less) of A-grade office accommodation over two levels.

Building B is the older of the three, built in the 1990s, and features 260sqm (more or less) of clear-span warehousing with two roller doors, while Building C, also built in 2014, includes 158sqm (more or less) of high-spec ground-floor office space.

“The architecturally designed office areas provide tenant-friendly layouts to cater to modern business needs, making this property a rare find within Christchurch’s CBD,” White says.

The property is fully occupied, generating a net income of $168,287.73 per annum plus GST and outgoings.

Tenants include multinational workforce management operation StaffSync, and global window architect Vitrocsa New Zealand occupies accommodation on the ground floor, while Fitness studio Aerial 3 has a lease for 260sqm (more or less) of warehouse space.

Bayleys salesperson Stewart White says a 157sqm (more or less) tenancy is occupied in a leaseback to the vendor for one year from the date of settlement, giving the new owner a chance to install a new occupant or utilise for themselves in the future.

“All buildings on the property have a seismic rating at or exceeding 67 percent of the New Building Standard, which meets modern safety requirements and ensures tenant security. This seismic rating is particularly significant in central Christchurch, where seismic resilience is a critical factor for property investment.

“In addition to modern specifications and a diverse tenant mix, the property occupies a prime position, set to benefit from future growth, given ongoing development within the CBD.

“The proximity to the new covered stadium is likely to drive further commercial activity and could accelerate capital appreciation for well-located assets within the area. The CBD’s established infrastructure, including transportation links and proximity to amenities, makes it a preferred destination for business operations of all sizes.

“The scarcity of properties with an industrial element within the CBD and the predominance of office and retail space further enhances the value proposition of the exceptional offering, which combines stable income with a diverse tenancy mix and future growth potential in a prime location.”

Click here for more information on the listing.