Rārangi Hou
• Long-term tenants
• Recurring income
• Significant central city land holding
• Gross revenue $227,311 plus GST (YE 31 March 2024)
Significant growth in inner city apartment living is driving demand for storage in Christchurch. This freehold going concern is located just 1.5km from One New Zealand Stadium and has excellent access to the central city where apartment living is now becoming the norm, not the exception. This 129 unit complex will appeal to existing self-storage operators seeking value-add opportunities while realising cost efficiencies. Similarly, commercial property and business investors looking to diversify into a business requiring minimal management and producing consistent income must also consider.
The complex has been owned and operated by the same family for more than two decades and has many long-term storage customers. The recent implementation of a new storage management system will no doubt highlight areas for business improvement. Here's your opportunity to bring your industry skills, experience and knowledge from day one.
The 129 storage units produce a gross income of $227,311 plus GST with a vacancy rate of approximately 5.6% of revenue generating units. Full tenancy details are available on request.