Commercial Market Update – Christchurch Cityscope
The latest research from Christchurch Cityscope shows that commercial property sales in Christchurch’s CBD have increased in the past three months. For the three months to December 2016 there were 12 sales at a total value of NZ$63.4 million, compared to 12 sales at a total value of NZ$15.8 million for the previous quarter.
The latest data brings the twelve-month sale total to NZ$146.6 million, a decrease from the previous 12 months when sales totalled NZ$154.6 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope:
Notable sales in the December 2016 update of Christchurch Cityscope include:
- The Novotel Christchurch Cathedral Square at 50 Cathedral Square, a 14-level, 193-room hotel with basement car parking; and The Hotel Ibis at 107 Hereford Street, an eight-storey, 155-room hotel with basement car parking for 15 cars, which were bought for a combined price of NZ$43 million;
- Land at 374 Montreal Street and 47-49 Salisbury Street, with a combined site area of 2,338 sqm, both used for parking, which were bought together for NZ$4.5 million; and
- 179 Tuam Street, a three-level building and a five-level building on a site of 1,610 sqm, which was bought at auction for NZ$3.6 million.
Properties listed as for sale in the December 2016 update of Christchurch Cityscope include:
- 58 Kilmore Street and 64 Kilmore Street, land containing three lots with a combined land area of 4,212 sqm, for sale together or separately through Colliers International Christchurch; and
- Residential apartments and office and retail space in the proposed development Randolph Apartments at 130 Peterborough Street and 135 Kilmore Street, land of a combined area of 2,039, for sale off the plan through CBRE and Harcourts Christchurch.
Leasing opportunities listed in the December 2016 update of Christchurch Cityscope include:
- 167 Victoria Street, a five-storey office building with retail space on ground level, which has office space of 565 to 5,568 sqm available through Colliers International and CBRE; and
- 52 Oxford Terrace, a four-level office building with undercover parking for six cars, which has office space from 265 to 1,095 sqm available through Bayleys Canterbury Commercial.
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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