Commercial Market Update – Christchurch Cityscope

The latest research from Christchurch Cityscope shows that commercial sales activity in Christchurch has increased in the past three months.  Sales recorded in the three months to September 2015 totalled $49.4 million, an increase from the quarter ending June 2015 when sales totalled $38.5 million and an increase from the quarter ending March 2015 when sales totalled $32.1 million.

The latest data brings the twelve-month sale total to $198.1 million, a decrease from the previous 12 months when sales totalled $305.6 million.

The table below shows sales recorded for the past eight updates of Christchurch Cityscope:

Christchurch Cityscope Quarterly Sales

Recent notable sales in Christchurch in September 2015 include:

  • 10 Oxford Terrace, Christchurch Central, a five level concrete office building with a site area of 1,479 sqm, was bought for $6.5 million.
  • Vacant land with a site area of 1,166 sqm at 236 Tuam Street, Christchurch Central, the former premises of McKenzie & Willis with a site area of 4,533 sqm at 179-185 High Street, Christchurch Central and vacant land with a site area of 599 sqm at 263 St Asaph Street, Christchurch Central, were bought together for $5.6 million.
  • 85 Hereford Street, Christchurch Central, a 2 storey retail building with three rooftop apartments with a net lettable area of 2,020 sqm and site area of 903 sqm, was bought for $5 million.

Properties for sale in Christchurch in September 2015 include: 

  • 78-80 Oxford Terrace, Christchurch Central, a three level building with a site area of 242 sqm, is for sale through Savills.
  • 49-51 Manchester Street, Christchurch Central, a 2 storey retail building with a site area of 1,567 sqm is for sale through Knight Frank.

Christchurch Cityscope Quarterly Sales graph

Significant leasing opportunities in Christchurch in September 2015 include: 

  • Park Avenue on Victoria at 137 Victoria Street, Christchurch Central, a 3 storey plus basement building with retail space on the ground floor, has office space of 586 sqm available for lease through NAI Harcourts Christchurch.
  • 130 Victoria Street, Christchurch Central, a single storey weatherboard former house with a site area of 1,045 sqm, has retail space for lease through Cowdy & Co. Ltd.

 

CoreLogic RP Data Commercial


Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic RP Data products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.


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About Commercial Research

CoreLogic RP Data Commercial Cityscope is a web-based service. Access is sold by geographic regions (Cityscope areas). There are 25 geographic regions across Australia (three in New Zealand), clustered around the cities of Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and Newcastle. Darwin and Hobart CBD centres aren’t covered. Cityscope Areas in NSW and QLD also include lease expiry data for the most complete commercial coverage available. For more information call 1300 734 318.

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