CBRE 2023 Spring Portfolio

Spring Portfolio Christchurch | 2023

Investors show interest in alternative tourism assets as visitor numbers recover.

Potential property market implications of a National and ACT coalition.

Aussie retailers actively seeking Christchurch space as market tightens.

Low availability of CBD office space continues to affect Christchurch tenants.

Investors show strong interest in alternative tourism assets as visitor numbers recover generated the most qualified enquiry levels of any sales offering he has been involved in through his career, with “a global spread of participants”.

“We received interest from hundreds of domestic and international buyer groups, culminating in multiple offers. The Tim Rookes, Managing staggering level of buyer engagement Director at CBRE we received shows a real and growing Christchurch appetite for the alternative tourism sector as visitors continue to hunt out the lesser-known spots off the tourist trail.”

Potential buyers were attracted by the unique, once-in-a-lifetime opportunity to own a lodge connected to a ski field on the edge of a high country lake with underlying freehold land - constituting a genuinely scarce offering.

“The extremely high demand for this asset demonstrates the confidence investors have in the future of tourism in the Southern Alps and New Zealand.”

Lake Ōhau Snow Field and Lodge, with brilliant westfacing views overlooking the surrounding ranges “There is a vast depth of capital both As New Zealand’s tourism industry annual increase of 80 %. also boosting the alternative locally and internationally seeking out recovers from the devastating effects While the traditional tourist hotspots tourism sector, with high demand for tourism property assets. We are also of nearly two and a half years of total around the country are undoubtedly boutique accommodation offerings and seeing an increased variety of ownership and partial border closures, interest in benefiting, there is also a noticeable trend luxury lodges as opposed to five star structures becoming increasingly active tourism-related property assets among towards alternative destinations among hotel chains. in this sector of the market, including investors is rising in parallel. post-pandemic travellers.

A large and growing contingent of parties such as consortiums and partLocal and offshore buyer groups, Alternative tourism broadly high-end travellers is increasingly seeking ownership arrangements.” encouraged by strong post-pandemic encompasses tourism activity that memorable experiences with top-class The CBRE Christchurch team visitor numbers, are setting their takes place in less-frequently visited accommodation and service in unique is currently working on three sights on tourism assets, with a view to destinations; a reaction to mass locations, instead of cookie-cutter global more alternative tourism property capturing further growth as the tourism tourism experiences such as package hotel chains in major cities and resorts. opportunities to bring to the market, market continues its upward trajectory. holidays, all-inclusive resorts and New Zealand’s pure, clean, green, said Rookes.

According to StatsNZ, overseas visitor urban tourist traps. safe haven reputation; combined with “Following the success of the Ōhau arrival numbers during the month of It can include specialist or niche our strong adventure offering, makes campaign, we are looking forward to August 2023 were at 82 % of pre-Covid experiences, interaction with locals, and alternative tourism a natural offering more assets to the vast amount arrivals in August 2019. 48 % of these attracts visitors who want to experience progression here. of unsatisfied capital which we know is arrivals were from Australia, with the next raw, untouched natural beauty or lesserCBRE’s recent marketing campaign for ready to deploy following the marketing biggest markets the USA and China. visited parts of major cities.

Lake Ōhau Lodge and Ōhau Snow Fields of Ōhau.

Annual visitor growth is also The sector is growing, as travellers tire in the Southern Alps illustrates the high “Alternative tourism property is undergoing a strong resurgence. 2.69 of the ‘same old’ holidays and emerge demand for alternative tourism assets as definitely a sector to watch as the million overseas visitors landed on New from pandemic-related travel restrictions investors seek to capture the growth in post-Covid visitor resurgence goes from Zealand shores in the year to August with a newfound desire to experience the non-traditional travel market. strength to strength.”

2023, 2.15 million more than during the more of the world around them.

Tim Rookes, CBRE Christchurch August 2022 year - representing an The global increase in luxury travel is managing director, said the campaign

Potential property market implications of a National and ACT coalition How the two parties’ taxation, financial regulation, economic policy and spending priorities could impact the commercial property market.

point is the significant focus from both parties on policy initiatives that will remove red tape in the property and infrastructure development sector.

“If implemented successfully, policies National and ACT are largely cohesive aimed at simplifying and speeding up on major policy initiatives impacting land development will have positive the property market, with overlaps and impacts across all property sectors from similarities across several policy areas, a supply perspective, notably in the although ACT generally advocates for housing market.” more aggressive versions of the same Policies around increasing foreign reforms. investment, shortening or removing Zoltan Moricz, CBRE executive director the bright-line test and streamlining and head of research, said a stand-out

consenting processes are proposed by both parties. These are considered to be generally positive for the property sector overall. However, National’s plan to remove depreciation on commercial buildings is likely to have counterproductive outcomes.

“Rather than a one-way flow of benefits, there will of course be both positive and negative implications of the proposed policies on different subsectors and participants in the property market,” Moricz said. “Focused lobbying from the industry on some proposals could be beneficial in achieving optimum outcomes.”

Both National and ACT seek to amend the Overseas Investment Act to attract foreign investment back to New Zealand shores. ACT’s proposal to exempt OECD member countries from the Overseas Investment Act regime, except in cases of important national security assets, could widen and diversify the pool of potential foreign investors and improve liquidity in the New Zealand investment market. National also proposes to amend the Overseas Investment Act to help encourage the development of more build-to-rent housing.

CHANGES OR ELIMINATION OF BRIGHT-LINE TEST FOREIGN INVESTMENT National wants to reduce the brightForeign investment into New Zealand line test period for rental properties back commercial property has dropped to two years, while ACT proposes it to be dramatically. Over the five year period completely scrapped. Either initiative is from 2018 to 2022, the average net annual expected to be largely beneficial to the flow of overseas investment into New liquidity of the residential property sector, Zealand reached around $628 million. In with potential for capital released from the first half of 2023, overseas investment residential investment to be channelled plummeted to just $93 million. into the commercial sector.

Aussie retailers actively seeking space in Christchurch as market tightens

on Cashel Street. All the retail space in Whitting observes that many tenants Carter’s Group’s planned development expanding or entering the market view on the High Street-Cashel Street corner New Zealand as an extension of their is now under negotiation. Miele’s new Australian operations, especially because showroom on Cathedral Square may New Zealanders are enthusiastic about lead a trend for retail to spread into this fashion and home upgrades. area, however there are no other obvious “Internationally, New Zealanders are locations left for prime retail in the city.” known to spend on our homes, personal Whitting’s team is in talks with care and families, fueling local several national and international economies. This makes large cities like brands regarding current and future Christchurch an appealing choice opportunities. Some of these brands, for retailers, along with Auckland many of which are Australian beauty and Wellington.” and fashion players, are new to Christchurch’s efficient freight Christchurch, bringing fresh infrastructure, such as the Lyttelton excitement to the CBD area. port and Rolleston inland container In the large-format retail market, terminals, is also viewed as a plus among high tenant demand was recently international retailers. demonstrated by the lease to Sydney “It’s a very exciting time for the city’s Tools at 455 Blenheim Road, Sockburn, retail market, with the main frustration for the company’s flagship South Island being the lack of space which is delaying store and its first in New Zealand. Other the entry of a number of Australian recent large-format leases to national retailers. If there are good quality gaps and international brands include Ninja in the market, these retailers want to fill Valley taking a space at Bush Inn. them. They’re not feeling the pinch of Strong performance in major centres the economic downturn too acutely and like Tower Junction in Riccarton, the appetite for expansion is still very Homebase in Shirley, Northwood in much there.”

Belfast, and Northlink in Papanui is Australian food and beverage brands boosting retailers’ confidence in the are also looking at expanding into Ninja Valley to open their new branch at Bush Inn Centre, December 2023 Canterbury region, with its substantial Christchurch, with some operators which Demand from national and remaining central CBD spots and for local shopper base. do not currently have a presence in international retailers for store space positions in popular large-format retail “Australian large-format retailers are New Zealand undertaking due diligence in Christchurch has reached record centres around the city. We have no attracted by the purchasing behaviour on hospitality spaces across the city, highs, leaving no more prime retail units more prime CBD space available fronting of Canterbury residents and are pushing Whitting said. available on Cashel Street and high Cashel Street and only a few secondary ahead with store network expansions “Christchurch has had a great boost pressure on secondary CBD retail space spaces. Much of the demand for CBD based on favourable retail spending data. from the return of international tourism, as well as suburban large-format units. retail units is coming from Australian As a result, Christchurch’s large-format with the city reclaiming its position as Much of this demand is coming fashion tenants.” retail centres, including Tower Junction, the gateway to the South Island.” from Australia, where retailers are With minimal new CBD retail space Northwood, Northlink and Homebase Christchurch’s projected population demonstrating strong interest in in the pipeline, tenancies are only have very low or no vacancy.” growth between 2023 and 2028 also extending their store networks to becoming available if existing tenants Canterbury retail sales increased by outpaces other regions in the South Christchurch, particularly prime CBD exit their leases – however demand is 5.1% in Q2 2023 compared with the same Island, contributing to the city’s street-front locations and large-format so high that units are easily backfilled. quarter in 2022. Canterbury’s retail sales attractiveness to retailers, she said. suburban retail spaces.

MECCA’s move to a larger two-level store growth was significantly higher than Ashley Whitting, CBRE’s National (previously occupied by Glassons) freed both Auckland (3.3%) and Wellington Head of Large-Format Retail based in up its former premises, which Glassons (0.9%) during the same period.

Ashley Whitting, Retail Leasing Specialist at the Christchurch office, said the level will soon occupy. Hallensteins has also To meet the robust tenant demand, CBRE Christchurch of interest from international retailers moved slightly further east along expansion projects are in the planning seeking locations in Christchurch has Cashel Street. at both Northlink and Homebase. Carter reached highs not seen since before the “The block adjoining Plymouth Lane Group’s upcoming retail project in Canterbury earthquakes of 2010–2011. on the south side of Cashel Street is the Rolleston is also drawing attention from “There’s intense competition for the last remaining undeveloped prime lot both national and international retailers.

STREAMLINING CONSENTING PROCESSES, ENABLING LAND DEVELOPMENT AND PROVIDING INCENTIVES TO COUNCILS A major focus for both National and ACT is facilitating more land development, faster. This is considered a strong positive for the property sector, said Jorge Chang Urrea, CBRE Christchurch research manager.

“While most of the parties’ policy proposals are specifically aimed at housing, there will also be benefits to the commercial market, through introducing quicker and more cost-effective consenting requirements for commercial property developers.”

National’s proposed measures include streamlining building consents and enabling greater efficiency in construction, including redefining the Building Act to remove the need for consent for negligible product or design changes.

National would also make two key changes to New Zealand’s planning

system to reduce resource consent provide councils with adequate timeframes and costs: introduce an incentive and resources to facilitate infrastructure fast-track consent process housing growth. and a quick decision framework for ENDING DEPRECIATION ON projects qualifying as major infrastructure COMMERCIAL BUILDINGS priorities (MIPs).

National’s proposal to remove the ACT considers serious reforms will commercial building depreciation tax be required to the current resource and break is expected to have a negative building consent regimes as part of its impact on the commercial property plan to increase housing supply. The market, by deterring investment into party advocates for greater certainty maintaining and improving buildings and and lower costs for developers by likely adding extra costs to business. reducing consenting red tape, costs and The move would also result in the New timeframes.

Zealand property market becoming less National proposes to incentivise attractive to foreign investors compared councils with a $1 billion fund to be distributed to councils which deliver more with Australia, where there is a favourable new housing. National would also require tax regime allowing investors to claim depreciation deductions. ACT’s position councils in major towns and cities to rezone land to cater for 30 years’ worth of on this point is unclear.

The evolving political landscape housing demand immediately. therefore suggests both opportunities ACT has put forward an infrastructure and challenges ahead for the commercial cost-sharing plan whereby the property market, Moricz said. government would share 50% of GST “The National and ACT parties’ revenue raised from the construction of initiatives indicate a strong possibility of new homes with councils. This aims to

a more favourable environment emerging for increased investment into the property market in New Zealand. However, some negative factors warrant close attention from the industry as the parties negotiate to form a new government.”

The Beehive, the office for New Zealand Parliament’s Executive Wing

Zoltan Moricz, Executive Director, Research at CBRE

Jorge Chang Urrea, Research Manager at CBRE Christchurch

CBRE and Turner & Townsend’s partnership celebrates its second anniversary Since then, the team has worked on high-value projects and programmes across the health, education, banking, technology and infrastructure sectors locally. This includes several flagship projects including the Christchurch Hospital Acute Services building, the Auckland City Rail Link and the Scott James Green, Cost Consultant & Associate Base redevelopment, from its offices in Director, Real Estate at Auckland and Christchurch, said Green.

Turner & Townsend Since forming the strategic partnership with Turner & Townsend, the collaboration has grown through the Pacific region and New Zealand, said Tim Rookes, CBRE Christchurch Managing Director.

“Our partnership in Christchurch and New Zealandenables us todeliver significant benefits for clients and, diversify how we support clients, while providing a great place for our people to Turner & Townsend Christchurch Office, the Awly Building. advance their careers.”

James Green, Turner & Townsend The strategic partnership between and Turner & Townsend established the three business segments: real estate, Christchurch office lead, commented: “I CBRE and global consultancy premier, global provider of programme, infrastructure and natural resources. The am excited about the future of CBRE and heavyweight Turner & Townsend project and cost management, firm specialises in major programmes, Turner & Townsend supporting clients celebrates its second birthday this month. underpinned by a unique client offer. programme management, cost and across Christchurch and New Zealand.

In November 2021, CBRE Group Inc Turner & Townsend is a global commercial management, net zero and I look forward to optimising our joint completed its acquisition of 60% of professional services company employing digital solutions, resulting in a highly experience and complementary services Turner & Townsend in a significant global over 10,000 people in 50 countries. It is impressive portfolio of work globally. to add greater value to our clients.” transaction NZD $1.96 billion in value. recognised for its collaborative approach Turner & Townsend first began The strategic partnership between CBRE to achieving client outcomes across operating in New Zealand in 2010.

Low availability of CBD office space continues to affect tenants in Christchurch

already have significant precommitment. the Christchurch CBD this year.

These include Carter Group’s The “Leasing precommitment remains a key Regent on Cathedral Square and Portus concern for many developers. Previous Property’s development at 211 High Street development cycles have seen large on the site of the former Excelsior Hotel. swathes of vacant stock come to market “Larger corporations are already with expectations of tight leasing markets engaged for these spaces, which again that never eventuated. does not help the situation for smaller to “This was the scenario which led medium-sized occupiers,” he said. to the soft market conditions we saw “Compounding the problem is that the through 2016–2020 and developers next chunk of new development space we are wary of this, causing them to take a were expecting to enter the market more cautious approach. Now, the lack has not been as quickly taken up as of much, if any, speculative development expected, largely due to economic and means our supply issue is compounded election uncertainty.”

– not good news for tenants looking for The lower level of tenant new premises.” precommitment for proposed new With the pace of the East Frame developments has delayed the housing development and construction commencement of construction on some of Te Kaha stadium now really ramping projects, which compresses the upcoming up, it is hoped that developers will take availability of space even further. renewed confidence in the future of Only three office lease deals for spaces the central city and press ahead with over 1,000sqm have been concluded in construction plans, Wallace said.

Upcoming vacancy data is likely to At 116 Worcester Street, Vale Property show greater availability of CBD office and Russell Property Group are space in Christchurch, however the reality strengthening and restoring the former is the market will remain very tight and State Insurance Building to provide tenants with upcoming expiries should character office space. not become complacent, according to The largest tenant group in the CBRE’s Christchurch office leasing team. Christchurch CBD office market is Mitchell Wallace, Associate Director of businesses occupying between office leasing at CBRE, said the entry into 400sqm and 600sqm of space. The the market of some 19,000sqm of office two buildings being refurbished will space across two major refurbishment provide floor plates of between 750sqm projects may result in upcoming vacancy and 2,000sqm, said Wallace. surveys showing a glut of space available.

“Most tenants looking for CBD “Most of the upcoming vacant space in space require smaller premises, so the the Christchurch CBD office market will upcoming availability of space may not be in two refurbished buildings. suit their needs. We’re advising tenants to This available space will influence ignore the vacancy data, as the urgency vacancy data, but it will not suit all is still there to seek out opportunities well tenants, especially those looking for in advance of current lease term expiries. smaller offices.”

“Tenants also need to be decisive The buildings currently undergoing in their property search, as there is refurbishment are the ex-IRD building competition for upcoming office on the corner of Cashel and Madras space and they may find there is streets; recently acquired by Nick Hunt’s nothing available where they want Lichfield Holdings which is continuing to be located if they leave their the strengthening and renovation decision-making too long.” work started by previous owner Huadu New buildings entering the market will International. It is the third largest office also influence vacancy rates; however the building in Christchurch. next projects scheduled for completion New ‘The Regent’ CBD Office Building in Cathedral Square

Mitchell Wallace, Associate Director, Office Leasing at CBRE Christchurch

Realise

Anything.

For Lease

CHRISTCHURCH 83 Victoria Street, Christchurch Central

Prime Office at the Heart of Victoria Street With prime office space becoming a scarcity in the CBD, this tenancy gives the opportunity to secure quality office space in the highly regarded ‘CBD Gateway’. Built in 2014, 83 Victoria Street offers a modern design with outstanding fit-outs in both the common and tenanted areas.

83 Victoria Street is within walking distance to a range of amenities including Hagley Park, retail shops, cafés, restaurants and bars. Due to the area offered being flexible, this office space can accommodate a range of tenant sizes. Enquire today to see how this space is suitable for your company.

– Available Q3 2024 – Level 3: 625sqm* – Level 4: 297sqm* – High quality fit out Contact CBRE for more information or to arrange an inspection

Mitchell Wallace

027 664 4773 * Approx.

Bennett van Asch

027 443 5910

www.cbre.co.nz/CCH100331

For Lease

CHRISTCHURCH 8 Iversen Terrace, Waltham

Newly Refurbished Warehouse – Available Now This industrial warehouse and office is located just off Moorhouse Avenue in Iversen Terrace. Positioned in the city fringe, this property offers easy access to the CBD and Brougham Street, through to the Port and Christchurch’s Southern Motorway.

Having recently undergone a major refurbishment, this property will suit a multitude of uses and is set to impress.

The Warehouse is of regular shape and the adjoining office is a mix of open plan and partitioned space with a meeting room, lunchroom and amenities.

– Warehouse: 1,357sqm* – Office: 161sqm* – Optional mezzanine – Maximum racking potential – Dual access site Contact CBRE for more information or to arrange an inspection

Nathan O’Neill

021 288 2707 * Approx.

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

www.cbre.co.nz/CCH100069

Together we can CHRISTCHURCH 58 Hazeldean Road, Addington

For Lease

CHRISTCHURCH 5 Kairua Road, Hornby

For Sale

SOLE AGENT

Boundary line indicative only

Flagship Distribution Centre on the City Fringe

Our Client’s Plans Have Changed, So It’s Time to Sell

– Drive through truck access – Available 2024 – Warehouse area of 2,740sqm* and canopy area of 183sqm* – Total office area: 1,661sqm* (Ground-floor: 778sqm, First-floor: 804sqm) – 68 on-site car parks

– Land area: 1,261sqm* – 33 metres wide by 37 metres deep – One freehold title – Industrial Park Zone (Awatea)

Contact CBRE for more information or to arrange an inspection

For Sale by Deadline Private Treaty closing Tuesday 28 November 2023 at 4:00pm (unless sold prior.)

Scott Bentley

Scott Bentley

027 203 3310

027 203 3310

* Approx.

www.cbre.co.nz/CCH100364

www.cbre.co.nz/ CCH100367

* Approx.

For Lease

CHRISTCHURCH 260D Port Hills Road, Hillsborough

Industrial Unit in the Heart of Hillsborough Located on Port Hills Road, 260D offers great exposure for your business, with plenty of customer car parking.

This modern unit has been recently renovated with modern LED lighting and strengthened to a minimum of 67% NBS*.

It consists of a spacious high-stud warehouse, with an office and showroom over two levels.

Boundary line indicative only

The proximity to Lyttelton and access to the Brougham Expressway make Port Link an ideal location for many businesses.

– Warehouse: 294sqm* – Ground floor showroom/office: 84sqm* – First-floor office: 93sqm* – Six car parks Contact CBRE for more information or to arrange an inspection

Brigit Hamilton

021 353 341 * Unless sold prior.

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

www.cbre.co.nz/CCH100250

Scott Bentley

027 203 3310

Realise anything.

CHRISTCHURCH 567 Wairakei Road, Burnside

For Lease

cbre.co.nz

CHRISTCHURCH 575 Wairakei Road, Burnside

For Lease

Flexible Floor Plan, Whole or Half Floor Options

High Quality and Affordable

– 836sqm of available office space – Good quality fit out in situ – Cost effective and high profile site – Lift access & ample on-site car parking

– New post-earthquake build, 100% seismic – Open plan office: 204sqm – Modern fit-out in situ – On-site car parking

Contact CBRE for more information or to arrange an inspection

Contact CBRE for more information or to arrange an inspection

Bennett van Asch

Mitchell Wallace

Bennett van Asch

Mitchell Wallace

027 443 5910

027 664 4773

027 443 5910

027 664 4773

www.cbre.co.nz/CCH100373

* Approx.

CHRISTCHURCH 17 Halwyn Drive, Hei Hei

For Lease

www.cbre.co.nz/CCH100374

* Approx.

CHRISTCHURCH Unit 14/14 Acheron Drive, Riccarton

For Lease

SOLE AGENT

Small Warehouse/ Office Available Now – Courtyard: 46.7sqm* – Level one office/amenities: 45.40sqm* – Ground floor office/amenities: 26.28sqm* – Warehouse: 63.27sqm*

Boundary line indicative only

Contact CBRE for more information or to arrange an inspection Scott Bentley

027 203 3310 Boundary line indicative only

www.cbre.co.nz/CCH100338

* Approx.

Distribution Facility Close to Carmen Road (SH1)

CHRISTCHURCH 32 Oxford Terrace, Christchurch Central

For Lease

Rare Opportunity on Oxford Terrace

– Clear-span warehouse: 1,190sqm* – Office/amenities: 256sqm* – Canopy: 254sqm* – Mezzanine, wash pad and car parking – Due to become vacant from December 2023

– Office Available December 2023 – Ground level: 230sqm* – Existing good quality fit-out – High profile site facing Tuam Street

Contact CBRE for more information or to arrange an inspection

Contact CBRE for more information or to arrange an inspection

Scott Bentley

Nathan O’Neill

027 203 3310

021 288 2707

Bennett van Asch

Mitchell Wallace

027 443 5910

027 664 4773

* Approx.

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

www.cbre.co.nz/CCH100370

* Approx.

www.cbre.co.nz/CCH100360

Looking for commercial property advice?

For responsive real estate solutions that help your business thrive, get in touch with one of our property professionals today.

HIGH STREET OFFICE

Tim Rookes Managing Director & Capital Markets 027 562 3700

Jorge Chang Urrea Research Manager, Christchurch 021 619 856

Cameron Darby Associate Director, Capital Markets 027 450 7902

Bonnie Stone Director, Investment Sales 021 843 690

Paul Brown Associate Director, Investment Sales 021 386 069

Ashley Whitting Associate Director, Large Format Retail 022 317 4254

Hamish Clarke Director, Industrial & Logistics 021 960 655

Scott Bentley Associate Director, Industrial & Logistics 027 203 3310

Nathan O’Neill Associate Director, Industrial & Logistics 021 288 2707

Brigit Hamilton Negotiator, Industrial & Logistics 021 353 341

Mitchell Wallace Associate Director, Office Leasing 027 664 4773

Bennett van Asch Negotiator, Office Leasing 027 443 5910

Tom Stafford Director, Valuations & Advisory 021 820 998

Carl Graham Director, Valuations & Advisory 027 248 5412

Matthew Stanley Associate Director, Valuations & Advisory 027 857 2625

Anna Kennedy Registered Valuer, Valuations & Advisory 027 237 4175

Matthew Swadel Registered Valuer, Valuations & Advisory 022 430 4014

ARMAGH STREET OFFICE

Chris Stanley Senior Director, Valuations & Advisory 027 293 3279

Victoria Murdoch Senior Director, Valuations & Advisory 027 292 5550

Mark Dunbar Director, Valuations & Advisory 027 293 3280

Mark Foster Manager, Valuations & Advisory 021 285 1103

Martin Winder Director, Valuations & Advisory 027 545 5424

Bridget Dunbar Registered Valuer, Valuations & Advisory 027 769 3191

Dean Brunton Registered Valuer, Valuations & Advisory 022 368 5007

James Carter Registered Valuer, Valuations & Advisory 021 836 155

Nick Taylor Registered Valuer, Valuations & Advisory 027 321 6096

Sam Scott Registered Valuer, Valuations & Advisory 027 512 3188

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) The information in this document is general in nature and is a guide only. It does not take into account your individual circumstances. Before acting you should check the accuracy of the information and seek your own independent financial and legal advice. The information must not be relied upon to make any investment decisions. The principal and its agent will not be liable for your failure to verify the information or seek appropriate advice.

cbre.co.nz/christchurch

Hayden Doody Director, Valuations & Advisory 027 556 3223