Character Banks Peninsula waterfront property dates back to 1882
A character building originally built in 1882 on Akaroa’s waterfront is for sale for the first time in more than 25 years.
The property at 83 Beach Road in Akaroa, on Canterbury’s Banks Peninsula, was fully refurbished in 2004.
It is now home to the Akaroa Cooking School and the reception area of the Akaroa Village Inn, while upstairs comprises two self-contained apartments, each with its own balcony overlooking Akaroa Wharf and Harbour.
A mecca for tourists during the summer, 92 cruise ships will weigh anchor in Akaroa Harbour this season bringing more than 200,000 passengers and crew.
The first cruise ship arrives at the start of October and the last for the season sails into the harbour in mid-April next year.
Colliers International Investment Sales Broker Courtney Doig says Akaroa town properties were tightly held and the building is one of the few to come to the market in the popular seaside township.
“After a long-term tenure within the same family, they’ve decided to sell. The building is producing multiple steady income streams and we think there’s plenty of potential for future upside.
“The interior spaces could be reconfigured and the rear storage area could also be opened to the courtyard space behind the building.”
It was built by local resident James Garwood in the early 1880s. He also built the Hilltop Hotel and served briefly as Akaroa’s Mayor.
During its long life, the building has seen many reincarnations. Originally a general store, it was also home to a local high school from 1883 to 1900 and was later used as a community technical college, a dairy, and motel.
The Commercial Banks Peninsula Zoning allows for a range of commercial and community activities.
The building area covers 408sq on the 688sq m site and has seven carparks. Total net passing income approximately $83,000.
The building is scheduled for auction on 25 October, 10am at Level 1, 181 High Street, Christchurch, unless sold prior.
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