A commercial property in a busy suburban shopping centre, with resource consent for a versatile redevelopment, is a prime blank canvas opportunity for add-value investors, developers, and owner-occupiers, Bayleys Real Estate says.
The large, clear-span premises on 1,560sqm (more or less) of freehold land at 28 Bishopdale Court occupies a high-profile position on the northern edge of the Bishopdale Mall, immediately adjacent to a large customer car parking area.
Jeremy Speight of Bayleys Christchurch says the prominent property provides significant scope for development, particularly given its zoning and substantial and unencumbered floorplate.
“The costly work of obtaining a resource consent to fit the premises with offices, retail, and hospitality presents an immediate add-value opportunity for a new owner, which may want to pursue these plans or investigate best use of the space according to their own priorities.
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“With such a large blank canvas, there is considerable development flexibility from large-format retail or multiple retail outlets, in addition to office-based activities such as healthcare.”
Speight is marketing the property for sale by deadline, closing at 4:00 pm on Thursday, 22nd August 2024 (unless sold prior).
The 1,920sqm (more or less) premises was initially occupied by a Farmers department store and later by the major retail chain Mitre 10, giving a sense of its scale and diversified potential.
Sitting adjacent to an established residential catchment and customer car parking area, near the corner with Farrington Avenue, the internal configuration comprises a large retail showroom with rear offices, storage and a timber mezzanine.
There is access to inward goods via a roller door at the rear of the warehouse.
Speight says the expansive floor area lends the property to conversion as multiple retail outlets and other commercial tenancies, providing a split-risk opportunity for future leasing.
“Where the approved plans provide for a mixed-use fit-out with open plan areas that can easily be adapted for various uses, a new purchaser may explore multi-tenancy options to activate an already busy mall setting.
“The Bishopdale Mall attracts a broad scope of businesses, including a national brand supermarket, speciality shops, service providers, and a bank, making it a natural location for a wide variety of potential occupants.”
Speight says suburban retail has grown and developed in recent years, making Bishopdale Mall an attractive location for commercial investment. The mall benefits from solid footfall and the surrounding residential community.
“The property occupies a prime position within the mall environment with high visibility to the community and passing vehicle traffic – ideal for businesses looking to establish a strong presence.
“With its flexible development potential and strategic location, this property offers a superb opportunity to capitalise on local growth. It is ideally positioned to attract investors and businesses eager to take advantage of suburban expansion and a rare, value-added market opportunity.”
- Supplied by Bayleys
