264 Ferry Road, Waltham, Christchurch

Nestled on a prime location at 264 Ferry Road, Waltham, Christchurch, this Freehold commercial property is a Retail use gem. Constructed in 1979 with robust Concrete walls and Iron roofing, both in good condition, the property boasts a floor area of 210sqm and a land area of 503sqm. It includes a generous 14 carparks and is situated in a quiet cul-de-sac, ensuring ease of access and high visibility. The property's Capital Value has seen a growth of 8.33% from $480,000 in August 2019 to $520,000 in August 2022. The HouGarden AVM estimates the property's value at $475,000, while the latest sale history shows a significant increase from $175,000 in 1998 to $729,970 in 2024.

For investors, the property offers the security of multiple income streams with well-established tenants, including the bourbon shop and dairy. It features CPI-adjusted rental increases, currently returning a combined net income of $54,775.68 plus operating expenses and GST. This split-risk investment is located on one of Christchurch's busiest arterial roads, promising excellent exposure and accessibility.

As for the school zone, the area is served by several reputable institutions. Middleton Grange School (Years 11 - 13) is a Composite school with a decile rating of 9, while Te Waka Unua School is a Full Primary with a decile rating of 2. Other schools include Hillview Christian School (decile 7), Christchurch Adventist School (decile 5), Hagley Community College (decile 6), Marian College (decile 8), and Te Aratai College (Year 7&8) with a decile rating of 3.

Updated on December 11, 2024