Price to reflect current rentals

Unit 4/ 16, Sheffield Crescent, Burnside, Christchurch City

By Negotiation

Proposed Usage
Office
Floor Area
448.00 m²
Description:
Property ID
1c4tq4n

For Sale - Price by Negotiation

- Now priced to reflect new reduced net rental of $70,480 + GST + OPEX
- Cap rate range 8%-7.5%
- Donaghy's Limited have renewed their lease
- 448sqm of first-floor offices
- Seven on-site car parks
- NBS 77%

Unit D is available for sale as part of this unit title development. The unit encompasses a first-floor office of 448sqm and seven car parks.

Donaghy's Limited is a company well-recognised in the agricultural sector being owned and operated by Kiwis and has traded continuously for 130 years. They have occupied this property for 10 years.

The new market rental has been set near the bottom of the office rental rate in the surrounding Russley area and should give a new owner scope for rental growth in the future.

The overall vacancy level within the Russley area is 11.4% in 2018 (taken from the Colliers annual market survey) down from 14.1% in 2017..

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Burnside Area