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 March 2016 totalled $48.1 million, an increase from the quarter ending December 2015 when sales totalled $26.8 million and from the quarter ending September 2015 when sales totalled $52.5 million. The latest data brings the twelve-month sale total to $169.9 million, a decrease from the previous 12 months when sales totalled $180.8 million.

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

Christchurch Cityscope Quarterly Sales

Recent notable sales include:

  • Smiths City at 550 Colombo Street, Christchurch Central, a combination of integrated old buildings and a new structure of one to two storey; along with 558A Colombo Street, Christchurch Central, 560 Colombo Street, Christchurch Central and 562 Colombo Street, Christchurch Central, three sections of vacant land, bought for $20 million;
  • 131 Victoria Street, Christchurch Central, a two storey building with a restaurant on the ground floor and offices to the rear and above and 133 Victoria Street, Christchurch, a 1,136 sqm piece of land used for parking, were bought together for $11 million; and
  • 772-774 Colombo Street, Christchurch Central, 107 Armagh Street, Christchurch Central and 214-214A Oxford Terrace, Christchurch Central, three sections of vacant land were bought together for over $7.2 million.

Properties for sale in Christchurch in March 2016 include:

  • Aoraki House, at 76 Peterborough Street, Christchurch Central, a two storey building on a site of 1,028 sqm, containing offices and courts, is for sale through Colliers International;
  • 7 Southwark Street, Christchurch Central, a paved parking lot for 47 cars on a site of 1,184 sqm, is for sale through NAI Harcourts;
  • 374 Montreal Street, Christchurch Central and 47-49 Salisbury Street, Christchurch Central, both vacant land of 1,175 sqm and 1,163 sqm respectively, currently used as parking, are for sale as a whole through Bayleys.

Christchurch Cityscope Quarterly Sales graph

Significant leasing opportunities in Christchurch in March 2016 include: 

  • 165 Gloucester Street, Christchurch Central, a four storey commercial building with retail space of 415 sqm on the ground floor has office space of 660 sqm available through Colliers International Christchurch; and
  • 126 Oxford Terrace, Christchurch Central, part of the $140 million Terrace development, which on completion will comprise 9 buildings with bars, restaurants, shops, a hotel, apartments, offices, six laneways, a promenade and bridges connecting different area, has office space up to 1,600 sqm in the development 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.


Subscribe to the free Commercial Pulse eNewsletter
Get the latest commercial news and sales data each week from our CoreLogic RP Data Commercial Pulse! Click here to subscribe

 

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.

Connect with CoreLogic

Enter your email address to subscribe to our e-newsletter, and have new posts delivered via email. You can also connect with CoreLogic on social media.

No comments yet.

Leave a Reply

Notify me of followup comments via e-mail. You can also subscribe without commenting.