282 Colombo Street, Sydenham, Christchurch

Located at 282 Colombo Street, Sydenham, Christchurch, this commercial property is designed for retail use, featuring a floor area of 100 square meters on a freehold land area of 121 square meters. Constructed in 1950 with concrete walls in good condition and a malthoid roof also in good condition, this property stands as a testament to quality and durability. Despite lacking in bedrooms, it compensates with a bathroom and prioritizes commercial functionality over residential amenities.

Over the years, the capital value of this property has seen a significant increase, from $420,000 in August 2019 to $490,000 in August 2022, marking a growth of approximately 16.67%. This growth is supported by a HouGarden AVM estimate of $480,000. The latest sale recorded on March 7, 2024, was at $295,000, indicating a potential underestimation in the property's market value or a strategic investment opportunity.

The property is zoned within the vicinity of several reputable schools, including Villa Maria College, St Thomas of Canterbury College, Middleton Grange School (Years 11 - 13), Cashmere High School, Hillview Christian School, Christchurch Adventist School, Hagley Community College, and Waltham School, with decile ratings ranging from 3 to 9. This diverse range of educational institutions highlights the property's strategic location for businesses that cater to families and students.