Information Memorandum - Ferrymead 1105 Ferry Road Prepared by Bayleys Real Estate Ltd 7 September 2017 - Property Investment Christchurch
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Ferrymead 1105 Ferry Road Information Memorandum Prepared by Bayleys Real Estate Ltd 7 September 2017
2
Retail investment opportunity
Bayleys Real Estate Ltd is pleased to offer 1105 Ferry Road, Ferrymead for sale at an
asking price of $6,330,000.
This 1,125m² brand new retail complex is spilt into seven separate units which helps when spreading investment risk. Three of the units
have been leased to quality tenants who have long leases in place. Situated in popular Ferrymead this 3,143m² corner site enjoys views of
the Estuary and the Port Hills. This area has a high traffic count making it an attractive location for potential tenants who are looking for a
high profile opportunity. There are 48 car parks in total and the building has 100% NBS. Anchor tenant ‘Anytime Fitness’ occupy 42.5% of
the building with a 10 year lease in place. Two boutique tenancies already occupied with only four remaining.
George Phillips Louise Urban
Commercial Sales and Leasing Specialist Commercial Sales and Leasing Specialist
+64 21 163 3838 +64 21 272 7107
george.phillips@bayleys.co.nz louise.urban@bayleys.co.nz
BAYLEYS REAL ESTATE LIMITED, LICENSED UNDER THE REA ACT 2008 BAYLEYS REAL ESTATE LIMITED, LICENSED UNDER THE REA ACT 2008
www.bayleys.co.nz/555495
bayleys.co.nz/commercial 3
Contents Executive summary 5 Operating expenses 12 Investment highlights 6 The sale process 13 The location 7 Certificate of title 14 Site and legal description 8 Car park plan 16 Occupancy and income schedule 10 4 bayleys.co.nz/commercial
Executive summary Address Legal description Lot PT2 Deposited Plan 16289 as comprised in the Certificate of Title CB559/75 Floor area 1,125m² Land area 3,143m² Car parking 48 Net rental $443,670 (if all tenancy's occupied) Occupancy Three out of seven units leased Tenant/s Turkish Kebab, Hair Salon and Anytime Fitness WALT 9.3 years Zoning Industrial General Zone Sale details Sale method $6,330,000 bayleys.co.nz/commercial 5
Investment highlights 1 Seven separate retail units 2 Fantastic location with sea views 3 High profile building on corner site 4 Brand new, 100% NBS 5 48 carparks in total 6 bayleys.co.nz/commercial
The location
Ferrymead is an up and coming area situated approximately 7km from Christchurch City Centre. With views of
the Estuary and the Port Hills it is a pleasant location for hospitality and retail establishments to operate from.
Zoning
The Industrial General Zone recognises and provides industrial and other compatible activities that can operate
in close proximity to more sensitive zones, due to the nature and limited effects of activities (such as noise,
odour and traffic), and providing a buffer between residential areas and the Industrial Heavy Zone.
1105 Ferry Road
bayleys.co.nz/commercial 7
Site and legal description
Tenure Freehold
Legal description Lot PT2 Deposited Plan 16289 as comprised
Zoning Industrial General Zone
Land value $950,000
Rating valuation Improvements $3,210,000
Capital value $4,160,000
8 bayleys.co.nz/commercialOccupancy and income schedule Lease summary Tenant Turkish Kebab Commencement 1 July 2017 Term Ten (10) years Expiry 30 June 2027 Rights of renewal Ten (10) years Next rent review 1 July 2019 Area 60m² Car parks Three Rental pa $24,120.00 OPEX % 5.5% Lease summary Tenant Hue – Hair Salon Commencement 1 May 2017 Term Eight (8) years Expiry 30 April 2017 Rights of renewal Eight (8) years Next rent review 1 May 2017 Area 140m² Car parks Seven (7) Rental pa $56,280.00 OPEX % 13% 10 bayleys.co.nz/commercial
Occupancy and income schedule Lease summary Tenant Anytime Fitness Commencement 1 December 2016 Term Ten (10) years Expiry 30 November 2024 Rights of renewal Two (2) x five (5) years Next rent review 1 December 2018 Area 425m² Car parks 10 Rental pa $159,150.00 OPEX % 39% 11 bayleys.co.nz/commercial
Operating expense Rates $34,506.25 P.A Insurance $23,524.67 P.A Building WOF/Compliance $3,012.69 P.A Total annual outgoings $61,043.36 P.A *All amounts are excludingGST. Income summary Total income $504,713.36 Less outgoings $61,043.36 Annual net income $443,670.00 *All amounts are excludingGST. 12 bayleys.co.nz/commercial
The sale process
1105 Ferry Road, Ferrymead is being offered for sale at an asking price of
$6,330,000.
If you have any questions regarding the content included in this document or to arrange a viewing of the property, please do not hesitate
to contact us:
George Phillips Louise Urban
Commercial Sales and Leasing Specialist Commercial Sales and Leasing Specialist
+64 21 163 3838 +64 21 272 7107
george.phillips@bayleys.co.nz louise.urban@bayleys.co.nz
BAYLEYS REAL ESTATE LIMITED, LICENSED UNDER THE REA ACT 2008 BAYLEYS REAL ESTATE LIMITED, LICENSED UNDER THE REA ACT 2008
This Information Memorandum provides preliminary information to assist interested parties with their assessment of the property.
bayleys.co.nz/555495
Disclaimer
The contents of this document do not form part of any contract. This document has been compiled using information provided by third parties, and Bayleys accepts no
responsibility for its accuracy or completeness. In all cases, interested parties should conduct their own verification of the information in this document, as well as their
own investigation and analysis of the property described in it. All parties are urged to take legal advice before entering into any contract or agreement regarding the
property described herein.
bayleys.co.nz/commercial 13Certificate of title bayleys.co.nz/commercial 14
Certificate of title bayleys.co.nz/commercial 15
Car park plan bayleys.co.nz/commercial 16
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