Nestled at 355b Riccarton Road, this Upper Riccarton, Christchurch property is a commercial haven, boasting a retail use category. Constructed in 1960 with concrete walls and an iron roof, both in good condition, this unit-titled property offers a single bathroom and four carparks, with a floor area of 50 square meters. The site is enhanced by a post-quake refurbishment, adhering to the latest building codes, ensuring a solid investment with a secure leaseback arrangement for Church Corner Cycles, an established tenant.
With a current Capital Value (CV) of $500,000, it has shown a growth of 14.94% since 2019. The HouGarden AVM estimates the property at $455,000, while the latest sale records from 2024 indicate a transaction of $538,000. The property's value has been on a steady rise, making it an attractive opportunity for investors seeking a strong return.
Educationally, the property falls within a desirable zone, including Ilam School (Decile 6), Villa Maria College (Decile 9), and other reputable institutions. This not only adds to the property's value but also ensures a consistent demand for rental accommodation from families seeking quality education for their children.
Updated on December 04, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.32 km | 3 | 2 | 150m2 | Year 2024 Month 11 Day 26 | - | Council approved | |
 | 0.42 km | 3 | 1 | -m2 | Year 2024 Month 10 Day 16 | - | Council approved | |
0.35 km | 4 | 190m2 | Year 2024 Month 10 Day 16 | $839,500 | Council approved | |||
 | 0.12 km | 4 | 103m2 | Year 2024 Month 10 Day 10 | $640,000 | Council approved | ||
 | 0.18 km | 4 | 1 | 104m2 | Year 2024 Month 08 Day 23 | - | Council approved |