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 March 2017 there were 6 sales at a total value of $62.6 million, compared to 15 sales at a total value of $72.6 million for the previous quarter.
The latest data brings the twelve-month sale total to $167.8 million, a decrease from the previous 12 months when sales totalled $173.1 million.
The table below shows sales recorded for the past eight updates of Christchurch Cityscope.
Notable sales in the March 2017 update of Christchurch Cityscope include:
- 32 Oxford Terrace, a five-storey office building with retail showrooms on the ground floor on a site of 1,721 sqm, which has been bought for over $39.1 million; and
- 104 Victoria Street, a five-storey office building of glass, concrete and steel with parking for nine cars to the rear on a site of 1,415 sqm, which has been bought for about $18.9 million.
Properties listed as for sale in the March 2017 update of Christchurch Cityscope include:
- AEQ House at 61 Cambridge Terrace, a four-level office building with car parking on paved land for about 13 cars on a site of 682 sqm, which is for sale by auction on 7th April 2017 through Bayleys; and
- 26 Southwark Street, a two-level besser-brick office building with parking for about four cars on a site of 278 sqm, which is for sale by tender closing 12th April 2017 through JLL Christchurch.
Leasing opportunities listed in the March 2017 update of Christchurch Cityscope include:
- 50 Manchester Street, a two-level concrete showroom with a single-level office section, which has office/showroom of 964 sqm available through Bayleys Canterbury Commercial; and
- 299 Durham Street North, a four-storey office building, which has retail/office areas of 490 sqm and 252 sqm on ground level and 400 sqm to 832 sqm on level one available through NAI Harcourts Christchurch.
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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