Buddle Findlay House for sale in prime Victoria Street location
A fully leased new office building on the corner of Peterborough and Victoria Streets in Christchurch is tipped to attract interest from an investor looking for a high-profile site on the CBD fringe.
Buddle Findlay House at 83 Victoria Street - featured in the latest Colliers Portfolio - sits diagonally opposite Christchurch Casino and is just 260m to Hagley Park.
It is anchored by strong national tenants including full service law firm Buddle Findlay and specialist project lawyers Greenwood Roche.
Hamish Doig, Managing Director of Colliers International Christchurch, says the immaculate six level post-earthquake build with 31 basement car parks is for sale by deadline private treaty, closing April 12.
“Victoria Street is a well-regarded fringe CBD location that has undergone significant development of office, retail and hospitality offerings since 2011," he says.
"The immediate surroundings comprise primarily low-rise office buildings including ground floor retail and hospitality.
"With the completion of several large buildings within the immediate area, Victoria Street has now cemented itself as a key office and hospitality precinct in the CBD.”
Rated at 100 per cent of New Building Standard, Buddle Findlay House occupies a freehold 724sq m site and has total net lettable area of 4,565sq m. It attracts net rental per annum of $1.38 million.
On the ground floor, Black & White Coffee Cartel occupies 133.88sq m (providing annual income of $53,940), Martinovoch Jewellers 87.99sq m ($42,273), and Mr Sushi 56.5sq m ($30,000). Other tenants include:
- Accountants Ashton Whelans, which occupies 654sq m ($261,600);
- sharebrokers Hamilton Hindin Greene, occupying 187.08sq m ($68,273),
- financial planners Patterson Wealth Partners, which occupies 476.47sq m ($154,853);
- and Greenwood Roche, occupying 377.4sq m ($154,734).
Buddle Findlay is the largest tenant with 1161.6sq m ($464,640).“With the key benefits of the latest building systems, modern construction, low maintenance and quality tenants, this is a highly attractive investment option,” says Doig, who is marketing the building in conjunction with Courtney Doig.