Colliers presents 81 Riccarton Road, Riccarton, Christchurch, to the market for sale. Forget all previous marketing the vendors have instructed us to sell this add value opportunity on Riccarton Road.
The opportunity comprises a high profile, two-level commercial retail and office building being extensively refurbished over the years, including an exterior face-lift in 2018.
Formerly occupied by the Bank of New Zealand the building now offers a quality diverse mix of tenancies over ground and first floor.
Subdivided into six tenancies, three per floor, the property is well leased with only two current vacancies, however there is opportunity for a potential owner occupier to secure further space on the first floor with the added benefit of significant cash flow from the balance of the building.
The property has ample car parks (total 32) at the rear of the building accessed off Picton Avenue making it desirable to future office tenants that require the parking.
This high profile fronting mixed use asset is not to be missed. The vendors are motivated and realistic about selling in the current market which will allow the incoming purchaser the opportunity to purchase well and secure a quality asset with the ability to add value immediately and in the future.
For Sale by negotiation.
*Boundary lines are indicative only.
Features:
* High profile retail/office location
* Exposure to over 20,000 + vehicles per day
* 32 onsite car parks
* Close to Westfield Shopping Centre
* Significant net income
* Tidy and fully refurbished providing good quality retail and office space
* Multiple tenants providing good spread of risk
* Add value/high yielding opportunity
