The latest research from Christchurch Cityscope shows that commercial property sales’ value in Christchurch’s CBD has decreased in the past three months.
 
For the three months to June 2020 there were 7 sales at a total value of $10.9 million, compared to 11 sales at a total value of $35.6 million for the previous quarter. The latest data brings the twelve-month sale total to $124.2 million, a decrease from the previous 12 months when sales totalled $153 million.

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

Notable sales in the June 2020 update of Christchurch Cityscope include:

  • 56-62 Victoria Street, a 3-storey commercial and retail building with ground floor food court, completed in late 2019, on a 1,149 sqm block, which was bought for $3.55 million; 
  • 98 Victoria Street, a two-storey commercial/retail building on a 311 sqm block, which was bought for $2.15 million and 
  • 225-227 Manchester Street, a 476 sqm block currently used as a car park and 229-235 Manchester Street, a public car park for 26 cars on a 716 sqm block, which were bought together for $1.825 million. 

Properties listed as for sale in the June 2020 update of Christchurch Cityscope include:

  • Unit 6 at 69-71 Gloucester Street, a 155 sqm commercial unit on the first floor of a 3-storey commercial building, for sale through Nai Harcourts;
  • Arden Hotel at 840-848 Colombo Street, a 4 star, 5-storey hotel building with 88 rooms, completed in 2019, for sale through Bayleys and 
  • 198-202 High Street, a 344 sqm block of land and 163 Manchester Street, a 93 sqm block of land, for sale together as a development site through Colliers International. 
     

Leasing opportunities listed in the June 2020 update of Christchurch Cityscope include:

  • 88 - 92 Cashel Street, a 3-storey commercial and retail building with 3 retail tenancies on Cashel Street and another 3 tenancies facing a rear laneway, completed in 2019, which has retail space of 1,410 sqm through Colliers International;
  • 167 Victoria Street, a five-storey commercial building with retail space on ground level, completed in 2016, which has office space of 402 sqm available through Bayleys Canterbury – Commercial and 
  • 65-67 Victoria Street, a four-storey commercial building with retail on the ground floor and seven car spaces with a net lettable area of 1,473 sqm, which has office space ranging from 334 to 1,002 sqm on levels 1, 2 and 3 available through Colliers International.