Christchurch’s hip High Street in the spotlight
One of the last remaining ‘as is where is’ character buildings in the Christchurch CBD is due to go under the hammer late this month.
On the corner of High and St Asaph Streets, the building is in the heart of a number of recently restored heritage properties including the newly named Ruby Black, Cotters and the Duncan’s buildings.
It includes the two-storey damaged building formerly home to Ace Video.
Broker Courtney Doig, of Colliers International, says buyers like character buildings because of their scarcity post-earthquake.
“They provide a real point of difference and are always popular with tenants who are looking for something to enhance their positioning,” Doig says.
“There are plenty of options for owner-occupiers and developers alike with the building because of its Central City Mixed Use zoning.
“This allows for residential, office and/or retail, providing considerable flexibility around restoration. Its terrace is also a real attraction.
“High Street is developing as a really vibrant part of the city, with an eclectic mix of boutiques and larger offices such as the McKenzie and Willis development, the Vodafone and Kathmandu headquarters, together with Dux Central and the well-known Little High Eatery.
“These developments have resulted in a large influx of people to the area. The area is set to get even busier with the residential development in the Eastern Frame, just two blocks north of 129 High Street.”
The building, at 129 High Street, occupies a total site area of 181sq m and consists of two approximate 170sq m floor plates and includes a roof top terrace allowing for future flexibility dependant on end use.
“This is the last piece remaining on this special stretch of High Street now that the Duncan’s buildings are nearly complete and restoration of another nearby building is well underway,” Doig says.
“With its lovely heritage buildings, this is a very special part of the city. It’s only going to get better once this section of the road between Tuam and St Asaph Streets reopens to traffic shortly, making the profile of the building even more attractive and providing an excellent branding opportunity for businesses.”
Another piece of the High Street jigsaw is also scheduled for sale at the same time – a 440sq m vacant block of freehold land at 180 High Street, with dual frontage to Lichfield Street.
Both properties are set for auction, unless sold prior, on May 30 at 10am, 181 High Street.
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