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Colliers, Christchurch, South Island Commercial Limited, (Licensed: REAA 2008)

20-26 Welles Street, City Centre

Deadline sale by 9 May

Listing Description

Listed: Tue, 9 Apr

Inner City Oasis - The Welder

20-26 Welles Street, City Centre, Christchurch City, Canterbury

To be sold by deadline sale (by 9 May)

Details

  •   2000m² Floor
  •   2157m² Land
AttributeValue
Property use
Retail
Agency reference
NZL67027515

Description

Colliers presents The Welder, 20-26 Welles Street, Central Christchurch, to the market for sale. The Welder represents a stunning transformation and repurposing of older buildings into a modern wellbeing, retail and hospitality complex situated in a strong central city location.   The development originally comprised 6-character buildings dating as far back as circa 1880, containing a mix of local artisan businesses. In 2018 the development was extensively repurposed and strengthened to the current use, whilst maintaining the original character feel.   The Welder is located on a north-facing site along Welles Street with additional frontage to Quills Lane, forming part of the bustling South Town Precinct. Comprising 4 individual titles there is a combined land area of 2,157 sqm.   The buildings are now interconnecting and provide dual entrances past various retail and hospitality tenancies to a central courtyard and eatery area, providing strong interaction amongst occupiers.   Sound income is provided across multiple tenancies, anchored by O Studio and the extremely successful Japanese restaurant Bar Yoku. There are a total of 17 tenancies across the Welder of which circa 85% or 13 are occupied.   To the astute investor this is an opportunity to secure a diversified income stream, for a stunning and unique complex situated in a highly regarded central city location. Underpinning the investment is the large land holding and subsequent land value in isolation.    For sale by Deadline Private treaty closing 4pm, Thursday 9 May 2024 (unless sold prior).   *Boundary lines are indicative only.

Features:

  • Stunning mixed-use complex
  • Strong central city location
  • 2,157 sqm combined land area (more or less)
  • Additional Quill Lane frontage
  • Strengthened in 2018
  • Approximate net income $606,585 pa
  • High underlying land value
  • Multi-tenanted
  • Approximately 85% occupied
  • Fully occupied/underwritten income $746,275 pa

More information: https://www.colliers.co.nz/p-NZL67027515


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Colliers, Christchurch, South Island Commercial Limited, (Licensed: REAA 2008)

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