Skip Ribbon Commands
Skip to main content

News Release

Christchurch

Bite-sized freehold opportunity in central Christchurch

JLL is marketing an office building in Southwark Street


 

 

East Tamaki gem with new five-year lease/new-zealand/en-gb/news/863/east-tamaki-gem-with-new-five-year-leaseAucklandEast Tamaki gem with new five-year lease
Rare vacant land in Grey Lynn for sale/new-zealand/en-gb/news/861/rare-vacant-land-in-grey-lynn-for-saleAucklandRare vacant land in Grey Lynn for sale

​​Southwark Rd small-min.jpg

​​A 240sqm commercial building at 26 Southwark Street is for sale.

JLL sales broker Chris Harding is marketing this property “as is, where is”. The building suffered moderate damage in the Canterbury earthquake sequence and has been assessed by an engineering firm as being less than 33% NBS and therefore earthquake prone.

“There are specific strengthening works that need to be done to bring this building up to standard,” says Harding. 

“The building needs work but it is well worth the investment. It’s in a great, north facing location within the four avenues. This is a rapidly growing part of town, which is close to tertiary education centres, night life, supermarkets and eateries. 

"This is a freehold opportunity that will suit investors, developers and owner-occupiers.”

The property is in the Central City Mixed Use Zone, which allows for the continuation of existing activities and a wide range of other community, commercial and business activities. 

“Southwark Street used to be a purely industrial area but is now becoming more of an office location. It’s very close to Manchester Street, the bus terminal and the various cafes and restaurants. There is a hotel, motel and shared work facility directly opposite the property,” says Harding.  

There is holding income from the existing tenants, which makes life easier for the new owner. In the process of strengthening this property, there’s an opportunity to redesign this building into something modern that will really stand out from the crowd.” 

The 280sq m site has parking for seven vehicles. The building was constructed in the 1960s and is divided into warehouse, storeroom, showroom and office spaces. The warehouse is on the ground floor with the offices and showroom above. 

The property is for sale through an open tender, closing 12 April 2017.