Media release for immediate use – 2 August 2007

Investment Opportunity In Sought-After Northern Christchurch

Investors and owner-occupiers are expected to be interested in a brand new unit soon to be auctioned in northern Christchurch.

Marketing agent Craig Edwards of Simes says the unit is in a part of the city which is in great demand.

“The northern areas of Christchurch have experienced substantial urban growth in recent years. The expansion of suburban areas has not been matched by supply of commercial space to service this rapidly growing population,” he says.

“As a result, commercial space in the north of Christchurch has been in hot demand. The developers of this complex have recognised this need and built what people want.

“Unit 3, 158 Cavendish Road is a 600 square metre unit combining warehouse and office space. It has eight carparks and would suit an owner-occupier or an investor looking for a high yield or trading profit.”

Craig Edwards says analysis suggests the unit would be a very sound investment.

“We have analysed the building and think it’s capable of a return in the low 60s ($60,000), which could mean a yield of around eight per cent,” he says.

“There is an opportunity here for an investment gain. Another unit in the same complex was originally bought by an owner-occupier. When his circumstances changed unexpectedly, he leased the property out and has since on-sold it with a 20 percent margin.

“I have no doubt the buyer of this property will do very well out of this property,” he says.

The unit will be auctioned on August 15.

ENDS –

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