Savills is pleased to offer for sale 23 Elgin Street, Sydenham. This is a rare opportunity to acquire a fully leased property in a tightly held and strategic location within Sydenham, one of Christchurch’s premium commercial/industrial suburbs.
The property comprises 607sqm (approx.) of freehold land, 357sqm (approx.) of building and six car parks. The structure is single level. The building which has an NBS rating of 67% is home to two tenancies.
Elgin Street is a popular location for tenants with an historically low vacancy rate. There are currently no vacancies in Elgin Street. Access to all parts of town is very convenient via Colombo Street, Durham Street and Brougham Street. 23 Elgin Street has another major advantage in that it overlooks the Colombo Mall car park which provides extremely high profile for the building’s tenants due to hundreds of cars parking there daily.
The current passing income from the property is $64,200.00 plus outgoings plus GST. This reflects a net rental rate of $162.00 per sqm with car parking at $20.00 per car park per week plus GST.
Property Highlights:
Fully leased freehold investment opportunity
Current net income of $64,200.00 p.a.
Land area 607sqm (approx.) of regular shape
Lettable area 357sqm (approx.)
6 car parks
67% NBS
Highly sought after strategic location close to the Christchurch CBD
3 year leases in place to two tenants
Tenant friendly location offers low risk to investors
Zoning: Industrial General
A rare opportunity for prudent investors to acquire a fully leased property in a strategic location is offered for sale by Deadline Private Treaty closing 4.00pm, Thursday 10 December 2026 (unless sold prior).
Contact the Savills sole agent Merv Davies today for further information or to arrange an inspection.
