Christchurch, 13 August 2014 – 104 Victoria Street, a fully leased five storey office building redevelopment, has come up for sale.
Selling on behalf of Countrywide Property Trust, 104 Victoria Street is being marketed by Mark Macauley, Managing Director of CBRE Christchurch and his colleague Sam Staite and is available for sale by fixed price, with the returns of more than $1.3 million a year in rent.
The property occupies a net lettable area of approximately 3,473sqm with typical floor plates of 676sqm. The building has a double street entry off Victoria Street and Montreal Street and located on the northern side of the Christchurch CBD in a thriving retail and office location.
During the refurbishment 104 Victoria Street was stripped back to the frame, had the floor plates extended and exterior reclad with a new glass façade which menat it is 100% NBS rating.
The building is five levels with four floors of office accommodation tenanted by California-based logistics software company Telogis and the ground floor a Tony Astle restaurant and boutique gym. All levels are presented beautifully with natural light and stunning views, offices are fitted with an energy efficient LED lighting system with sensors which are a key feature for tenants’ overall operating costs.
Mr Macauley says the high quality refurbishment, the long lease term, the buildings double street frontage and car parking are all reasons that CBRE are expecting high interest in 104 Victoria Street.
Sam Staite, Senior Negotiator of CBRE, says “There’s very little competition in the investment market in this area of the city, 104 Victoria Street is immaculately presented and we look forward to a successful sales campaign.”
View the New Zealand Herald article here
About CBRE
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
