Commercial Market Update – Christchurch Cityscope

The latest research from Christchurch Cityscope shows that commercial sales activity in Christchurch has decreased in the past three months.  Sales recorded in the three months to December 2015 totalled $20 million, a decrease from the quarter ending September 2015 when sales totalled $52.5 million and from the quarter ending June 2015 when sales totalled $38.5 million. The latest data brings the twelve-month sale total to $144.4 million, a decrease from the previous 12 months when sales totalled $251.9 million.

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

Christchurch Cityscope Quarterly Sales

Recent notable sales include:

  • 98 Victoria Street, Christchurch Central, a two storey commercial/retail building with a site area of 311 sqm, was bought for $3.3 million
  • 55 Chester Street West, Christchurch Central, vacant land with a site area of 1,236 sqm, was bought for $3.2 million
  • Clocktower Lane at 388 Montreal Street, Christchurch Central, a block of a two-and-three-storey buildings occupied by residential units with garages on a site of 1,512 sqm, was bought at auction for $2.9 million
  • Worcester Chambers at 69 Worcester Street, Christchurch Central, an historic two storey brick office building with a net lettable area of 740 sqm, was bought for $2.3 million.

Properties for sale in Christchurch in December 2015 include: 

  • 163 St Asaph Street, Christchurch Central, a two storey warehouse building with a showroom and offices on a site of 681 sqm, is for sale through Ray White Commercial
  • 123 Worcester Street, Christchurch Central, vacant land with a site area of 339 sqm, is for sale through Bayleys, Ray White and MB Cook Co. Ltd.

Christchurch Cityscope Quarterly Sales graph

Significant leasing opportunities in Christchurch in December 2015 include: 

  • 141 Cambridge Terrace, Christchurch Central, a six storey office building, has office space of 181 – 2,500 sqm available for lease through Colliers International Christchurch.
  • Office space of 143 – 1,862 sqm in a new development at 124-140 Kilmore Street, Christchurch Central is available for pre-lease through Colliers International Christchurch.
  • Office space of 390 – 2,488 sqm in a new development at 287-295 Durham Street North, Christchurch Central is available for pre-lease through Colliers International Christchurch.

Commercial Research


 

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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