345 Stanmore Road, Richmond, Christchurch

Strip Retail, did you say better than 8%?

This North Avon Road strip retail opportunity offers purchasers a strong return in a typically popular asset class. Rent roll of $107,719.98 net per annum is split between four tenants, spreading the investment risk.

At the northern end of the suburb of Richmond, the block is well located in an area which is beginning to see the benefits of residential gentrification and commercial investment. Situated on the corner of Stanmore and North Avon Road, the property enjoys great profile with significant passing traffic. Road works have recently been completed on North Avon Road, providing an inviting streetscape, while private development is increasing in the area both residentially and commercially.

New residential builds by the likes of Williams Corporation aim to attract the first home buyers and professionals, who represent the largest portion of the suburbs workforce at 21%. Commercially, the ongoing rebuild of the Richmond Working Man's Club (Stage 2 due for completion 3rd quarter 2019) will provide a great lift to the area while investment by Richard Peebles and NPD Fuel show confidence from the private sector.

With the Vendor moving onto their next project, 345 Stanmore road is being offered to the market at better than 8% return.

Get in touch with Blair or Mitchell today to arrange a viewing, or copy and paste www.propertyfiles.co.nz/property/559078 into google.