Sydenham Christchurch City 8011

After 12 years providing healthy returns, a shift in vendor priorities has prompted the sale of this appealing central Sydenham investment. This unique Colombo St retail/office premises in the heart of Sydenham, is experiencing a post-quake resurgence and currently provides a very attractive total rental of $103,000*pa (net) from the multiple tenancies. Two vacant tenancies will increase the rent roll further. Landlord is willing to underwrite vacancies for a period.

The complex is situated on 938m2 of Commercial Core zoned land, which is advantaged by having a prominent frontage to Colombo Street as well as a second rear access via Penbury Street.

Improvements comprise of three buildings totaling 915m2* offering a mixture of boutique retail space and contemporary offices.

With approx 190m2* of bare land at the front of this site, there is potential to extend the space to provide further upside.

Alternatively, the olde worlde themed retail complex, being fully sprinklered and with plumbing to each tenancy, would make an ideal backpackers (subject to consents), offering a rare and exciting opportunity for someone wanting to create a business that offers far more than a passive rental income.

Realistic vendors invite expressions of interest from investors and/or entrepreneurial business owners. (* approx)

Contact Russell Pegler on 021 053 5792 for more information on this property.

SOLD