Investment on Hagley

1, Riccarton Road, Riccarton, Christchurch City

Price On Application

Proposed Usage
Retail
Floor Area
1009.00 m²
Description:
Property ID
1c5c8k9

For Sale by Deadline Private Treaty
(unless sold prior)
4pm, Thursday 16th May 2019

• Two ground floor strata titles plus car park building
• Returning $365,446.48 net per annum
• Long term leases with potential options to increase income
• Prime location on the corner of Riccarton Road and Deans Avenue adjacent to Christchurch's iconic Hagley Park

With a prime location on the corner of Riccarton Road and Deans Avenue adjacent to Christchurch's iconic Hagley Park, 1 Riccarton Road holds fond memories for both Christchurch's young and old. The ground floor of the Parkview Hotel is now occupied by two established tenants in Monster Chicken (Unit 2) and Thai Chef (Unit 3), with both having access to a substantial 94 park car park building (Unit 4) located on the south west corner of the site.
Returning $365,466.48 net per annum with personal guarantees from each tenant, these strong leases provide confidence to those looking for a sound investment.
Confidence can also be found in the building itself, built in 2007, a 2013 DEE notes the building as being over 73% of the new building standard.

Contact Blair or Mitchell for further information, or copy and paste www.propertyfiles.co.nz/property/1RICCARTON into your address bar.
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Riccarton Area