A near-new Woolworths supermarket in Belfast in northern Christchurch is available for purchase and can be bought as a single parcel with adjacent excess land, or as three individual components.
The blue-chip offering is being marketed for sale via expression of interest by Colliers Brokers Nick Doig, Courtney Doig, and Brad Johnston, closing 28 November.
Located on the main arterial at 755 Main North Road, the supermarket has 5,139sq m of total building area and sits on a 4.5056ha site that is surrounded by 2.922ha of potential greenfield development land.
Nick Doig, Director of Retail at Colliers Christchurch, says Woolworths has 10 years remaining on its lease and further rights of renewal, with the supermarket comprising 3,447sq m and a dedicated online shopping area of 1,692sq m.
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“This is a new-era Woolworths in a prime location, set to reap the benefits of population growth in the area.
"Belfast is experiencing growth as part of Christchurch’s expansion to accommodate a projected 700,000-strong population increase over 30 years.
"Together with established neighbourhoods are a variety of new housing developments that will increase demand at Woolworths,” he says.
“With easy access to State Highway 1, the new supermarket not only caters to local residents but also serves the wider northern Christchurch corridor, making it a convenient stop for commuters heading into the city or traveling north.”
The adjoining land is split into two blocks of 24,543sq m and 4679sq m, respectively.
Resource consent is in place for a full neighbourhood shopping centre but the land zoning could also be converted to residential to take advantage of relentless population growth in the area.
“The subdivision consent allows for two commercial and or residential super lots, making this a rare opportunity for large-scale development,” Courtney Doig, Investment Sales Broker at Colliers Christchurch, says.
“This is ideal for a capable developer with a proven track record to take the project forward.”
She says the opportunity would appeal to investors and developers alike with local and national buyers already registering their interest.
“Christchurch is very much on the radar of national investors looking for long-term opportunities. With interest rates easing, investors are looking anew with more confidence in the market.”
Surrounding the offering are several key residential developments, including the large-scale Highsted and Prestons subdivisions, which are set to add hundreds of new homes to the area.
This strong growth is complemented by nearby recreational amenities such as Sheldon Park, the Styx River Conservation Reserve, and Northwood’s established shopping district, further enhancing the lifestyle appeal of the Belfast region.
- Supplied by Colliers
