One of the last remaining 'as-is where-is' character buildings in the Christchurch CBD is due to go under the hammer later this month.
The two-level building, at 129 High St, occupies a total site area of 181sq m and comprises two approximate 170sq m floor plates along with a roof top terrace which allows for future flexibility dependent on its end use.
On the corner of High and St Asaph Sts, the building is in the heart of a number of recently restored heritage properties including the newly named Ruby Black, Cotters and the Duncan's buildings.
"The damaged building was formerly home to Ace Video," says Courtney Doig, of Colliers International, who is marketing it for sale by auction at 10am on Thursday May 30 unless it sells earlier.
Doig says buyers like character buildings because of their scarcity post the Canterbury earthquakes.
"They provide a real point of difference and are always popular with tenants who are looking for something to enhance their positioning," she says.
"There are plenty of options for owner-occupiers and developers alike with this building because of its Central City Mixed Use zoning.
"This allows for residential, office and/or retail, providing considerable flexibility around restoration. Its terrace is also a real attraction.
"High St is developing as a really vibrant part of the city, with an eclectic mix of boutiques and larger offices such as the McKenzie and Willis development, the Vodafone and Kathmandu headquarters, together with Dux Central and the well-known Little High Eatery.
"These developments have resulted in a large influx of people to the area. The area is set to get even busier with the residential development in the Eastern Frame, just two blocks north of 129 High St."
"This is the last piece remaining on this special stretch of High St now that the Duncan's buildings are nearly complete and restoration of another nearby building is well underway," Doig says.
"With its lovely heritage buildings, this is a very special part of the city. It's only going to get better once this section of the road between Tuam and St Asaph Sts reopens to traffic shortly, making the profile of the building even more attractive and providing an excellent branding opportunity for businesses."
Another piece of the High Street jigsaw is also scheduled for sale at the same time – a 440sq m vacant block of freehold land at 180 High St, with dual frontage to Lichfield St.