New building in Christchurch’s Victoria St

3:00 PM Tuesday November 17, 2015 Colin Taylor

Office and retail space is available for rent in this new building at 138 Victoria St, Christchurch.

Office and retail space is available for lease in a new four-level building on Victoria St, Christchurch, offering the chance for businesses to occupy premium space at a lower cost than in the CBD.

Engineering firm Structex occupies half of the first floor of 138 Victoria St with Bose on the ground floor fronting Victoria St and next to the Duncan Cotterill building on the popular office, retail and hospitality strip.

The remainder of the ground and first floor areas, along with office space on Levels two and Level three, are now being marketed for lease by Savills brokers Ryan Geddes and Jesse Paenga

“This office and retail space is being offered at very accessible rental levels,” says Geddes. “It’s an attractive, modern building positioned among high-calibre occupiers on Victoria St. The landlord is prepared to meet the market on rent, so for businesses looking for profile and real ‘wow’ factor, this is a premium central-city option at a price that would normally only be found in the suburbs.”

The just-completed $11 million A-grade building was designed by Opus Architecture and built by Naylor Love. It features base isolators and 26-metre piling which takes it well over the required seismic standards - one of just a few buildings in Christchurch built to this standard.

The 600 sq m floor plates offer attractive space that is ready for tenant fit-out and occupation. Each floor can be leased to a single larger business or split into two smaller tenancies to suit market demand.

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An interior view of some the vacant space to let at 138 Victoria St, Christchurch. 

Paenga says the modern design features have been employed throughout the building. “There is high-performance floor-to-ceiling glazing on three sides of the building so the office spaces have plenty of natural light. There are also recessed ‘winter gardens’ on each office floor and high-spec bathrooms with showers on each level.”

The top floor has a distinctive vaulted ceiling lined with acoustic-treated Tasmanian oak. “The high ceiling allows a mezzanine level to be added to give the top floor tenant additional space,” Paenga says.

The bluestone-lined entrance atrium is another distinctive feature, with a broad staircase designed to invite people to take the stairs to the office floors. The building also has a high-specification heating and air conditioning system.

Geddes says one of the building’s key advantages over others in the area is its access and parking. “It has dual vehicle access points off Victoria St and Knox Lane, giving direct access to Bealey Ave. This is a plus at times when Victoria St is busy.”

The building’s basement car parking is supplemented by more off-street car parks on an adjacent vacant section to the rear of the building which the owner purchased to increase the car parking ratio. “The 70 car parks will be a big attraction for tenants as it’s very rare to find a parking ratio this high anywhere in the city,” says Geddes.

He says the building is located among a cluster of post-earthquake construction projects that have now been completed creating an attractive retail and office enclave where there are no further building opportunities.