Two strategically located Cancer Society buildings in Christchurch are back on the market after failed settlements when they were sold last year.
With its new $22 million premises nearing completion at Langdons Road, the Society is anxious to sell both sites – located in the popular suburbs of Merivale and Riccarton.
The former motels, located at 91 Papanui Road and 48 Riccarton Road, are being marketed individually by Courtney Doig, Investment Sales Broker at Colliers Christchurch, via deadline private treaty, closing 10 August.
The accommodation blocks cater, at any given time, for 41 guests from throughout the South Island, plus their carers, who are having treatment at Christchurch Hospital.
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“Due to failed settlements, these assets have become available again, providing the opportunity to secure two excellent add-value opportunities. Demand for residential accommodation close to the central city is surging and these properties are within comfortable walking distance of the CBD and surrounded by superb amenities,” Doig says.
“With both properties zoned Medium Density Residential, they will appeal to an astute investor or developer seeking strategic holdings.”
Daffodil House in Merivale enjoys a dress circle location close to the CBD, Merivale Mall, and surrounding amenities and is always in demand because of its proximity to several independent schools and zoning for state schools.
The Papanui Road property comprises 23 units on a 1,690sq m site, adjacent to St Margaret’s College, Selwyn House School, and Acland House (Christchurch Girls’ High School’s boarding hostel). The total floor area is 1,262sq m, split into 588sq m on the ground floor, 588sq m on the first floor, and 86sq m on the first-floor balcony.
Daffodil Lodge in Riccarton Road comprises 18 units covering 856sq m on 1,450sq m of land. There are 11 studio units, three single-bedroom units, and four two-bedroom apartments, plus a three-bedroom manager’s accommodation.
“Surrounded by several mixed size motels, together with retail and other commercial accommodation, this is turnkey ready to occupy immediately,” Doig says.
The complex is 550m from the bustling Westfield shopping centre, the biggest such shopping hub in Christchurch, and is in comfortable walking distance to Hagley Park and the CBD. The University of Canterbury is also nearby.
“This is an exciting opportunity for an astute investor or owner-occupier to acquire a strategically positioned and well-maintained motel complex with the benefit of a 30m frontage onto Riccarton Road.”
- Article supplied by Colliers
