An exceptional retail and warehouse opportunity on the corner of Blenheim and Curletts Road in Christchurch made national headlines in September because of the philanthropic intentions of the owner.
Through their charitable trust The Gama Foundation, Marilyn and Grant Nelson owned the property for 20 years enabling them to distribute millions of dollars of earnings to their educational and environmental causes.
The couple wanted to retire and take a lower profile and took the property to market with Bayleys Canterbury in September.
Licensee George Phillips received plenty of interest for the high-profile campaign.
“The majority [of interest] for the individual properties and some for the whole site including an Auckland investor and a Christchurch group,” said George.
The purchase was finalized this week for $22million with a local Christchurch company, headed up by property investor Hilton Smith, who is pleased that the money is going to good causes.
Smith will have retail and warehouse opportunities with tenants including Parklands Property, Office Max and Target Furniture situated on one of the busiest intersections in Christchurch.
The Nelson’s philanthropic acts have included donating large tracts of native bush on Christchurch's Port Hills, establishing reserves in South Canterbury, fencing Riccarton Bush to protect young kiwi, and creating information resources about financial education and coping with blindness.
They also fund research into bipolar disorder, conservation, and improving access to civil justice, and have campaigned on issues ranging from inequality to water use.