Fully leased new Christchurch building

2:40 PM Friday March 30, 2018 Colin Taylor

Buddle Findlay is the largest tenant in the new building at 83 Victoria St. Photo / Supplied

A fully leased new office building anchored by strong national tenants is for sale on the corner of Peterborough and Victoria Streets in Christchurch.

Buddle Findlay House sits diagonally opposite Christchurch Casino and is just 260m to Hagley Park. Tenants including full service law firm Buddle Findlay and specialist project lawyers Greenwood Roche.

“This property is tipped to attract interest from investors looking for a high-profile site on the CBD fringe,” says Hamish Doig, managing director of Colliers International, who is marketing at 83 Victoria Street, for sale by deadline private treaty, closing at 5pm on April 19.  

Doig says the immaculate six-level post-earthquake building, with 31 basement carparks, is in a well-regarded fringe CBD location that has undergone significant development of office, retail and hospitality offerings since 2011.

“The immediate surroundings comprise primarily low-rise office buildings including ground floor retail and hospitality. With the completion of several large buildings within the immediate area, Victoria Street has now cemented itself as a key office and hospitality precinct in the CBD.”

Rated at 100 per cent of New Building Standard, Buddle Findlay House occupies a freehold 724sq m site and has total net lettable area of 4565sq m. It attracts net rent per annum of $1.38m.

Buddle Findlay is the largest tenant occupying an area of 1161.6sq m and paying annual rent of $464,640.

On the ground floor, Black & White Coffee Cartel occupies 133.88sq m paying annual rent of $53,940; Martinovoch Jewellers with 87.99sq m pays $42,273; and Mr Sushi leasing 56.5sq m pays $30,000pa.

Other tenants include: accountants Ashton Whelans, renting 654sq m ($261,600); sharebrokers Hamilton Hindin Greene 187.08sq m ($68,273); financial planners Patterson Wealth Partners 476.47sq m ($154,853); and Greenwood Roche 377.4sq m ($154,734). 

“With the key benefits of the latest building systems, modern construction, low maintenance and quality tenants, this is a highly attractive investment option,” Doig said, who is marketing the building in conjunction with Courtney Doig.