150 Main South Road, Upper Riccarton, Christchurch City, Canterbury

Deadline sale (unless sold prior) 4:30pm, Thu 26 Mar 2026 174A Papanui Road, Merivale

This exceptional property offers a rare opportunity to secure a high-yield, proven investment with an outstanding 20-year track record.

Perfectly positioned in a highly sought-after location serving both the University of Canterbury and Lincoln University, the property sits on 1,012sqm (more or less) of TC1, freehold, Residential Suburban-zoned land - a solid landholding in a consistently in-demand rental area.

Currently tenanted on a fixed-term lease at $1,400 per week until November 2026 (equating to $72,800 per annum), the property delivers an immediate and reliable income stream from day one.

Investment Highlights

• Proven 20-year track record
• Historically strong tenant retention, with most groups staying for two years
• Seven double bedrooms, all lockable
• Two bathrooms plus a separate laundry
• Consented log burner and heat pump for year-round comfort
• Majority double glazed
• New roof (approx. 6 years ago)
• New hot water cylinder and water heating unit
• Alarm system installed
• Generous off-street parking for 7+ cars and outdoor space
• Close to key amenities and main bus routes

The dwelling offers practical, comfortable accommodation tailored perfectly to the student market. The kitchen is well-appointed with generous bench space and storage, while the bathrooms are modern and functional. Heating options - including the log burner (a consistent favourite with tenants) - ensure warmth through the cooler months. Off-street parking is a significant advantage, as securing it in university-adjacent areas is increasingly difficult, further strengthening tenant demand.

With the current owner exiting the student investment sector, this property offers rare alignment: strong net income, excellent long-term capital growth, and demand driven by two expanding universities.

We invite all offers on or before the deadline date.