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Prime property for sale on Blenheim Rd in Chch

Fuseworks Media
Fuseworks Media

Investors are expected to signal strong interest in a high-profile property on Christchurch’s busy Blenheim Road.

Known as the Dalgety Centre, the multi-unit offering comprises three buildings at 109-119 Blenheim Road and was built in the late 1990s. It is being sold by deadline private treaty, closing March 7.

Colliers International general manager Mark Macauley, who is marketing the property in conjunction with Will Franks, said there was ample future opportunity for investors.

"Blenheim Road has changed substantially over the years and today is home to a mix of retail showrooms, bulk retail and a large number of offices. This property is in a prime location on the corner of Dalgety Street and has excellent repositioning opportunity. It ticks all the boxes as an investment opportunity; well leased but with the opportunity for some vacancy to be taken up and for shorter term lease opportunities to be renewed, low maintenance and it has great access. We think this will suit a wide range of investors."

The Dalgety Centre covers land area of 3797sqm split into three separate freehold titles. Building C has net lettable area of 708sqm set on 1339sqm of land. Building D has 661sqm of building on 1070sqm and Building E covers 880sqm on a 1386sqm site.

Total net lettable area is 2276sqm, with the benefit of 64 car parks.

Macauley said the property, currently 95 per cent leased, had passing rental of $657,751 plus opex with potential to take it to $684,106.

The Dalgety Centre has a diverse tenant mix including More Mobility and Glass Miles, Zenith Interiors and accountants Kendons Scott MacDonald.

The property is for sale by deadline private treaty, closing March 7.

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