Investors have the opportunity to buy part or all of Prebbleton Village, a thriving, modern retail complex in the booming Selwyn District, 11km from Christchurch city.
Built in 2022, the fully leased centre at 555 Springs Road comprises 15 established tenancies on 10-year initial lease terms with fixed annual growth.
Courtney Doig, Director of Investment Sales at Colliers Christchurch, says the vendors have designed a subdivision plan that allows investors to purchase each of the three buildings individually or acquire the entire complex as a single portfolio.
The properties are being offered for sale by deadline private treaty, closing 15 April, unless sold earlier.
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“While the village can be bought as one freehold offering, the vendors have drawn up a subdivision plan, which we think will also appeal to entry-level investors looking for a strong passive investment,” Doig says.
“The vendors, Mon Group, are committed to selling as they’re about to begin a similar development in Rolleston offering a diverse mix of service and community retail.”
Sitting on 5,753sq m of land, the three buildings at Prebbleton Village comprise a total of 2,413sq m with annual rental income of $893,969.
“This is an immaculate asset in a high-growth location with the diverse mix of tenancies spreading risk.
"The tenants, including well-known brands such as Good Home, Ray White, Flex Fitness, a dentist, and a pharmacy, have a weighted remaining lease term of 7.53 years – providing excellent security given the number of tenants.
"With two years of trading behind them, they have well and truly established themselves in the heart of the Prebbleton community,” Doig says.
Designed by Walker Architecture, the three timeless offerings are built from high-end permanent materials such as concrete, brick, and Australian hardwood gum.
Prebbleton’s population has grown every year since 2000, averaging 3.4 per cent per annum over the five years to 2024 compared with 1.4 per cent per annum across New Zealand.
The area has undergone huge growth in the past decade with multiple new residential subdivisions and more in the pipeline. Proposed Selwyn District plan changes mean Prebbleton could almost double in size.
The town is known as a family-friendly environment, well served by multiple local amenities such as schools, parks, and shops. Echoing the exponential growth, Prebbleton School is thriving with a current roll of around 550 students.
- Supplied by Colliers
