High-profile investment opportunity in Christchurch
Investors are expected to signal strong interest in a high-profile property on Christchurch’s busy Blenheim Road.
Known as the Dalgety Centre, the multi-unit offering comprises three buildings at 109-119 Blenheim Road, Riccarton, and was built in the late 1990s.
It is being sold by deadline private treaty closing at 4pm on Thursday March 7, unless sold prior.
Colliers International Christchurch General Manager Mark Macauley, who is marketing the property in conjunction with Will Franks, says there is ample future opportunity for investors.
“Blenheim Road has changed substantially over the years and today is home to a mix of retail showrooms, bulk retail and a large number of offices.
“This property is in a prime location on the corner of Dalgety Street and has excellent repositioning opportunity.
“It ticks all the boxes as an investment opportunity; well leased, but with the opportunity for some vacancy to be taken up and for shorter-term lease opportunities to be renewed; low maintenance; and great access.
“We think this will suit a wide range of investors.”
The Dalgety Centre covers a land area of 3,797sq m split into three separate freehold titles.
Building C has net lettable area of 708sq m set on 1,339sq m of land. Building D is 661sq m on 1,070sq m of land, and Building E covers 880sq m on a 1,386sq m site.
The total net lettable area is 2,276sq m, with the benefit of 64 car parks.
Macauley says the property, currently 95 per cent leased, has a passing rental of $657,751 plus opex with potential to take it to $684,106.
The Dalgety Centre has a diverse tenant mix including More Mobility and Glass Miles, Zenith Interiors and accountants Kendons Scott MacDonald.
Get the latest commercial real estate insights and property news.
Looking for commercial real estate? Try our property search or connect with expert commercial real estate agents today.
Need your real estate assessed? Work with our expert property valuation services team.
Looking to develop your career in property? Learn about careers at Colliers.