Beautifully presented Christchurch office building

A fully leased five storey office building redevelopment in Christchurch generating more than $1.3 million annually in rent is being offered for sale at a fixed price.

The property at 104 Victoria St is being sold on behalf of Countryside Group by Mark Macauley, managing director of CBRE Christchurch and his colleague Sam Staite.

The property occupies a net lettable area of approximately 3473 sq m with typical floor plates of 676 sq m. It has a double street entry off Victoria Street and Montreal Street and is located on the northern side of the Christchurch CBD in a busy 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 meant it is 100 per cent New Building Standard (NBS) rating.

The building is five levels with four floors of office accommodation tenanted by California-based logistics software company Telogis. On the ground floor is a Tony Astle restaurant and boutique gym.

Macauley says all levels are presented beautifully with natural light and stunning views. Pffices are fitted with an energy efficient LED lighting system with sensors which are a key feature for reducing tenants' overall operating costs.

Macauley says the high quality refurbishment, the long lease term, the buildings double street frontage and car parking are all reasons that CBRE is expecting high interest in 104 Victoria Street.

Staite, senior negotiator of CBRE, says there's very little competition in the investment market in this area of the city "and 104 Victoria Street is immaculately presented".

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