Commercial Market Update – Christchurch Cityscope
The latest research from Christchurch Cityscope shows that commercial property sales in Christchurch’s CBD have decreased in the past three months. For the three months to June 2017 there were 22 sales at a total value of $38.5 million, compared to 7 sales at a total value of $66.3 million for the previous quarter. The latest data brings the twelve-month sale total to $193.8 million, an increase from the previous 12 months when sales totalled $152.3 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope.
Notable sales in the June 2017 update of Christchurch Cityscope include:
- 32 Cathedral Square and 150-154 Gloucester Street, both used as a car park on a combined site of 2,035 sqm, which were bought together for $7.126 million;
- 21-31 Dundas Street, a 2-storey concrete and glass office building; built in 2014 on a 1,507 sqm site, which was bought for over $7 million; and
- 231 High Street, a two-level office building with retail on the ground floor on an 899 sqm site, which was bought for $3.37 million.
Properties listed as for sale in the June 2017 update of Christchurch Cityscope include:
- 182-184 Armagh Street, a piece of 741 sqm vacant land, which was auctioned recently but passed in and still for sale through Nai Harcourts;
- 148 Victoria Street, a four-storey commercial building and a single-storey retail building to Victoria Street on a site of 2,022 sqm, which is for sale through Colliers International; and
- 179-181 Victoria Street, a two-storey concrete and glass office/retail building with parking for 10 cars to the rear; built in 2013 on a site of 720 sqm, which is for sale through Savills.
Leasing opportunities listed in the June 2017 update of Christchurch Cityscope include:
- 47 Hereford Street, a five-storey commercial building with a showroom on the ground floor, completed in 2015, which has office space ranging from 465 to 685 sqm available through Bayleys Canterbury Commercial;
- 253 to 261 Moorhouse Avenue, a large two-storey building containing two retail stores plus office and storage space and parking for 83 cars, which has a total retail space of 2,064 sqm plus a mezzanine level of 237 sqm available through Colliers International; and
- Press House at 158 Gloucester Street, a seven-storey tower with a net lettable area of 7,000 sqm completed in early 2012, which has office space ranging from 843 to 4,323 sqm available through Colliers International.
Commercial Research
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.
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