Bayleys Capital Markets is pleased to present a truly unique offering to the market, on a scale rarely seen within the four avenues of the Christchurch Central Business District.
Encompassing 6,900sqm of building area and 13,344sqm of highly attractive CCMU zoned land with 156 on site carparks with multiple entry and egress points.
Strategically positioned at 550 Colombo Street, this property is set to leverage the city's imminent growth and transformation, aligning perfectly with Christchurch's urban renewal and its journey towards becoming a world-class city.
Boasting a vibrant and entrepreneurial history, the property was originally Smith City’s flagship location dating back to 1918 when founded by Henry Cooper Smith and remains a well-entrenched tenant to this day. The property is to sold on a sale/leaseback basis.
Featuring:
• $1,600,000 net rent plus outgoings and GST per annum
• Ten year initial term with rights of renewal, market reviews and fixed annual growth
• Approximately 6,900sqm building area consisting of retail, office and warehousing
• Approximately 13,344 sqm combined land holding across multiple titles
• 156 carparks
• Sensational location within the four avenues
• Household name tenant covenant with significant history at the property
To be sold by Deadline Private Treaty closing 4pm NZT on the 14th March 2024 (unless sold prior).
Please enquire with the sole agents for further information.