Fully leased shopping village for sale

A new architecturally designed shopping village in the thriving town of Prebbleton, 11km south-west of Christchurch, is for sale.

The Prebbleton Village complex was completed last year and is fully leased to 15 tenants.

Courtney Doig, Investment Sales Broker at Colliers Christchurch, is marketing the immaculate offering at 555 Springs Road by deadline private treaty, closing 30 March.

Prebbleton is a township in the booming Selwyn District. It was one of the earliest settlements on the Canterbury Plains but has undergone huge growth in the past decade.

There are several new residential housing subdivisions and more in the pipeline to meet demand. Reflecting this rapid expansion, the once small Prebbleton School now has a roll of around 500 students.

Stats NZ notes the population of Prebbleton has grown substantially over the past 10 years. In 2001, its population was 1,050, 2,910 in 2013, and 5,260 in 2022.

Several recent private plan changes around the south of Prebbleton will see more new subdivisions during the next 10 years. There is also potential for additional capacity to be identified through the District Plan Review and the changes in Variation 1 to enable additional housing within the existing urban area through infill and intensification.

“With such growth, The Prebbleton Village is proving a hugely popular addition to the landscape, servicing community needs with an array of popular retailers, hospitality, medical and service offerings,” Doig says.

The boutique shopping complex, designed by Walker Architecture, is made up of three buildings built from high-end timeless materials such as concrete, brick, and Australian hardwood gum. It has a floor area of 2,413sq m and sits on 5,753sq m of land. There are 58 car parks.

“This is an excellent opportunity for a passive investor, with an overall remaining lease term of 9.59 years. That, coupled with the multiple tenancies, provides great security for an investor.

“Sound annual income currently sits at $865,125 with annual fixed growth built into each of the tenancies.”

Tenants include well-known brands such as Good Home Ray White, Flex Fitness, Liquorland, and the Majestic cafe, together with a dentist, pharmacy, and physiotherapist.

Prebbleton is regularly served by public transport, has extensive sporting and community facilities, and is close to Lincoln University and high schools.

- Article supplied by Colliers