Nestled in the heart of Sydenham, just a stone's throw from Christchurch's bustling CBD, stands a prime commercial property at 3/15 Washington Way. This unit, built in 1996 with concrete walls and Malthoid roofing, boasts a well-maintained structure with a floor area of 220sqm. It comes with Unit Title ownership and is accompanied by five car parks. The property, leased for three years with renewal options, generates a return of over $60,000 + GST and outgoings, offering an attractive 8% return on investment. Notably, the capital value has surged by 27.78% from $540,000 in 2019 to the current $690,000, with the HouGarden AVM estimating it at $660,000. The latest sale history shows transactions at $640,000 in 2024 and $530,000 in 2018.
For families, the property falls within a highly regarded school zone. Middleton Grange School, a composite institution with a decile rating of 9, is one among several esteemed schools in the area. Others include Hillview Christian School (decile 7), Christchurch Adventist School (decile 5), Hagley Community College (decile 6), Marian College (decile 8), Te Aratai College (Year 7&8, decile 3), and Waltham School, a full primary with a decile rating of 3.
With its excellent location, solid investment potential, and access to top-notch education facilities, this property is a golden opportunity for both investors and families.
Updated on April 17, 2024
