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Church tenancy offers heavenly opportunity for property investors

Tags: Commercial

The land and buildings partly occupied the Anglican Diocese of Christchurch has been placed on the market for sale.


 

The expansive 2,000 square metre two-storied building at 10 Logistics Drive in Harewood sits on some 5,019 square metres of freehold land and has 80 car parks attached to it.

The Anglican Diocese of Christchurch occupies the upper level and is currently on a lease running through until the end of 2019, with two further six-year rights of renewal. The lease generates an annual income of $301,000 plus GST, with annual rental increases tied to the Consumer Price index and a market review every three years.

The Diocese of Christchurch is one of the seven dioceses of the Anglican Church of New Zealand and Polynesia. Anglican Care Canterbury/Westland, which operates from the Logistics Driver offices, is the social services and social justice arm of the Diocese of Christchurch.

Anglican Care provides support, governance and administration over its four main divisions – The Christchurch City Mission, Anglican Aged Care, Anglican Care Community Development, and Anglican Care South Canterbury.

The lower floor of the property was previously utilised by Stonewood Homes, but is currently now vacant.

The Logistics Drive premises is on the market for sale or lease by negotiation through Bayleys Canterbury. Salesperson Stewart White said the stylish rectangular-shaped building with floor to ceiling glass was built in 2013.

Mr White said that with the open plan layout bottom floor completely vacant, the property represented an opportunity for either an owner-occupier to take on the property, or an investor looking to tenant the empty area. The lower level had its own modern kitchen and staff lunchroom facilities, as well as employee bathroom amenities.

Access to both the ground floor and upper levels is through a large atrium entrance, with both an elevator and stairwell linking to the second storey.

The building is located five minutes’ drive from Christchurch International Airport, and 20 minutes from the city’s central business district. Mr White said the vacant ground floor layout meant the site was suitable as either a showroom, or as office space.

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