Colliers presents 65 Blenheim Road, Addington, Christchurch, to the market for sale. 65 Blenheim Road is a high-profile retail asset situated on an island site abutting Blenheim Road, fronting directly into Tower Junction, arguably Christchurch’s premier large format retail destination.
Comprising three individual tenancies, each with mezzanine level, the building was constructed in circa 2012. The principal frontage faces the wider Tower Junction development ensuring excellent connectivity, with the property supplemented by approximately 48 onsite carparks.
Being effectively an island site of 3,433 sq m (more or less), the land holding benefits from triple street frontage, including to Blenheim Road, one of the main access routes through the city. The southern and eastern boundaries front Tower Junction.
Tower Junction is a high-quality large format retail centre anchored by a Bunnings trade store and comprising circa 37,000 sq m of retail space and extensive carparking areas. Tower Junction is arguably Christchurch’s most successful large format retail offering.
Sound income is provided across three individual tenancies with a weighted remaining lease term of 5.94 years. Current net income totals approximately $743, 084pa plus GST and outgoings. Future rent growth is provided by predominantly CPI reviews, scattered with market reviews.
This is an opportunity to secure a prime retail asset in a high-profile location and facing directly into the Tower Junction retail development.
For sale by negotiation.
*Boundary lines are indicative only.
Features:
* High profile island site
* Interconnectivity with Tower Junction retail development
* 100% occupied by 3 individual tenancies
* Mix of CPI and market reviews
* 100% NBS (Ruamoko DSA Report July 2024)
* Current net income of $743,084pa
* Land area of 3,433 sqm (more or less)
* Floor area of approximately 2,265 sqm
* 48 onsite carparks
* 5.94 years overall WALT
