CBRE Christchurch
Real Estate Services
- Listing #:
- CCH100603
- Listed:
- 98 days ago
Deadline Sale
Thu 19th Sep 4:00pm
1.3ha CBD Site + Income on Final Lease Expiry
385-391a Madras Street, Christchurch Central, CanterburyRetail
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- 5,451m2 Floor Area
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- 1.3 Hectares Land Area
About this property
Representing more than a Central City tenanted investment, CBRE is excited to present 385, 391 and 391a Madras Street, being a strategic opportunity to acquire a mixed use landholding of scale with a myriad of future development options.With significant annual income and a final lease expiry in circa four years' time, this unique CBD offering presents remaining term certainty to masterplan a large-scale mixed-use redevelopment or look to continue utilising the significant onsite improvements.
Operating as a Carter Holt Harvey trade retail centre dating back to the 1960s, astute parties will recognise the ability to now consider alternative highest and best uses. The mixed-use zoning provides a myriad of future options (STCA) including but not limited to office, retail, residential, entertainment, recreation, education, health, spiritual, and guest accommodation.
Key Investment Highlights:
- Final lease expiry in four years providing certainty of term and a unique master planning opportunity
- 1.3ha strategic CBD site of incredibly rare scale across three titles providing ultimate flexibility
- Mixed use zoning providing a myriad of future development options
- Located in New Zealand’s most modern CBD - walking distance to over $2.7bn of government projects either under construction or recently completed
- Prominent high profile corner site with a massive 225 metres of dual frontage
- Excellent vehicular access north and south via Madras and Aberdeen Streets
- 5,451 sqm (approx) of post-earthquake upgraded improvements plus significant surplus yard providing value add potential
- $943,562 net annual rental from blue chip tenant – Carter Holt Harvey
385, 391 and 391a Madras Street is being offered for sale by way of Deadline Private Treaty closing Thursday 19th September at 4:00pm NZST (unless sold prior).
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