The owner of the building housing the popular Alpine Ice skating rink in Christchurch is selling the immaculate property and it comes with a lengthy lease in place to the well-known tenant.
The vendor has owned the building since 2006.
Marketed by Christian Kellar and Noel Gilchrist of Colliers Christchurch, 495 Brougham Street in Waltham is for sale via deadline private treaty, closing Thursday 1 August.
Zoned Industrial General, the building sits on 9,258sq m of land, has a floor area of 3,060sq m, and offers 114 car parks.
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The property is underpinned by a significant landholding with only 33 per cent site coverage paving the way for future development.
Kellar, Industrial Sales Broker at Colliers Christchurch, says Brougham Street is a sought-after location in the desirable city fringe industrial suburb of Waltham.
“Housing a wide range of national and international businesses, the area is very tightly held and has one of the lowest vacancy rates of all industrial areas in Christchurch,” Kellar says.
“It’s close to the city centre and Brougham Street is the main arterial linking to the Southern Motorway and Lyttelton Port.”
Gilchrist, Investment Sales Broker at Colliers Christchurch, says the building has the fundamentals investors are seeking – a long lease and a series of CPI and market adjustments through the lease, coupled with rights of renewal.
“The tenant owns the ice surface and all plant and is responsible for maintenance and any repairs with the landlord’s obligations, the same as any industrial building. This means the new owner of the building can enjoy a passive investment with strong rental income and a proven tenant covenant,” Gilchrist says.
“The longstanding manager of the business has 17 years’ experience and knows it inside out.”
Alpine Ice is home to skaters from throughout the city who flock to the public sessions every week, together with a variety of clubs such as ice hockey, school, and corporate groups.
Ice skating in Christchurch was originally in Centaurus Road, Cashmere but was closed in 1983 with the Brougham Street site opening in 1985. Today, Alpine still employs many of its original staff.
After more than 20 years of involvement with Alpine Ice, the vendor has retired to Nelson, creating an opportunity to secure this unique investment offering with a successful tenant, Kellar says.
- Supplied by Colliers
