355b Riccarton Road, Upper Riccarton, Christchurch

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