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Colliers, as sole marketing agent, is pleased to present this immaculate tenanted investment situated at 160 Lichfield Street, Central Christchurch.
Astute buyers can buy the shares in the car park asset and take control of the company at an exciting time in its evolution. With pressure being exerted on the owners and operators of on grade car parks with new legislation that may take effect from 30 June 2021, growth in car park revenue is assured.
There are further growth and profit share opportunities with the digital advertising screen, along with passive art screen income.
Already with the new stadium now underway pressure for parks has increased markedly. The car park enjoys a net income of $1,300,000 per annum with conservative growth predictions of 5.2% annually over 5 years and a 439 year WALT.
The second opportunity is the ground floor retail which enjoys $426,937 of net income and a WALT of 11.8 years.
Nestled in the CBD and the further defined SALT District, the car park has a wide catchment for the many businesses surrounding it. In addition to this, the developers strategically positioned it across from what will be Christchurch’s multi-use arena.
The property can be bought as one or in two parts and is offered for sale by Deadline Private Treaty closing 4pm, Thursday 5 May 2021 (unless sold prior).
*Boundary lines are indicative only.