Christchurch, 11 November 2015 – 3-5 Dean Avenue, commonly known as the Bayleys Building, has sold to a local purchaser after the successful marketing campaign run by CBRE Christchurch’s Merv Davies and Paul Brown, on behalf The McLean Institute.
Paul Brown says “This was a rare opportunity in a tight market. The purchaser has landed themselves a quality property in one of Christchurch’s most sought after locations.”
Situated opposite the iconic Hagley Park, the property is fully leased to two well-known tenants, Bayleys Real Estate and Fletcher Construction Company, both well established in the location.
Merv Davies, says that “The building is well fitted out by the current tenants, however the new owner does have plans to refurbish the building over time.”
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 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.