Ray White Portfolio Magazine - June 2022

P O R T F O L I O JUNE 2022

GREEN ENERGY - STIMULATING REGIONAL MARKETS Perth industrial market overview

Childcare assets double as demand continues

A Victorian mansion perfect for investors

ANDREW FREEMAN Head of Agency Operations

As we round out the first half of 2022, Ray White Commercial has continued to see fantastic results across all asset classes.

Heading into the new financial year, as a group, Ray White Commercial’s traded value of property is up 40.67 per cent year or year. This growth can be attributed to the uplift in market confidence as well as Ray White Commercial representing more significant assets, including the $1.3billion sale of Jandakot Airport.

While there is still some uncertainty following the federal election in May, the commercial market remains strong, not seeing the same effects from rate rises as the residential market.

One notable sale from the past month includes the sale of 191 Great Eastern Highway, Belmont, for $10.5 million by Ray White Commercial WA agents Brett Wilkins and Chris Matthews.

Some more good news includes China reaching out to the Australian Government for the first time in two years, which could lead to the opening of new trade channels, having positive flow on effects in our markets.

In 2022, Ray White Commercial has seen more of its members reach Chairman’s Elite status than ever before, including Commercial’s youngest ever Chairman’s Elite member Jackson Rameau from Ray White Commercial Gold Coast, which shows the growing strength of our network.

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PORTFOLIO | Ray White Commercial | 3

WHAT IS ESG AND HOW DOES IT AFFECT PROPERTY? ESG is an acronym which has been bandied about commercial property for many years, however it’s not totally understood what it is and how it impacts property. Environmental Social Governance is the response to a new era of socially conscious investors who consider not just financial returns but environmental impacts today and into the future. In Australia NABERS is the leading rating scheme which considers energy, water and other social implications.

With the Government growing its commitment to zero net carbon emissions by 2050 we are seeing a growing pool of owners, tenants, investors all ensuring their assets are future ready and we are starting to see some creep into the residential sector.

CommBank recently announced their Green Home Loan offering which provides discounted rates to those who purchase a Green Building Council of Australia (GBCA) green star home or have appropriate NaTHERS ratings across energy and water criteria. While this may be skewed to newly developed products, demand is high for stock to be built keeping these principles in mind as our consumer grows more environmentally conscious. With many other banks likely to follow suit there are a number of greening initiatives which will further encourage homeowners to consider upgrades to their home to improve livability, comfort and health while offsetting growing energy costs.

Australian commercial property is world leading in its implementation and practises around ESG with most property owners having robust mandates around NABERS and their principles when buying or developing new property. This is seen as a pivotal piece to manage future risks while achieving strong returns and meeting sustainability goals. We are also seeing a growing tenant requirement for highly rated assets in response to employee expectations surrounding their employer having an authentic commitment to reducing their carbon footprint.

For commercial assets it is encouraging to see the results of the GRESB Real Estate Assessment which considers 117,000 assets from 1,520 property owners (REITs, funds, developers) around the world.

This survey benchmarks ESG data points including emissions, waste, energy and water consumption with Oceania leading the way for both standing investments and new development.

4 | PORTFOLIO | Ray White Commercial

Source: GRESB (2021)

While commercial property may be advanced in the areas of ESG, the recently announced The Green Future Index for 2022 saw Australia slide down to 52 (of the 76 countries involved) from 35 last year and labelled a “climate lagard” showing slow or uneven progress towards building a green future.

When considering the highly rated countries, we see they have robust strategies surrounding changes to clean energy and reduced emissions; the Australian government has shown commitment to these initiatives in particular renewable energy resources but greater work needs to be done to swiftly move towards our targets to improve sustainability for Australia.

With homes generating at least one fifth of all greenhouse gas emissions in Australia there is significant opportunity for these ESG principles to move into the residential sector to help achieve these targets and provide residents with more energy and water efficient homes saving on energy costs and future environmental impacts.

VANESSA RADER Head of Research

PORTFOLIO | Ray White Commercial | 11

VICTORIAN MANSION PERFECT OPPORTUNITY FOR INVESTORS A Victorian mansion used as short-term residential accommodation, Kangaroo House provides the perfect opportunity for investors to capitalise on Brisbane’s rental supply shortage.

Built in 1891, Kangaroo House is located at 27 Enogerra Terrace, Red Hill.

The 625sqm site comprises 16 individual boutique bedrooms, six bathrooms, communal areas plus extensive verandahs and common living areas, experiencing spectacular views from many areas of the house.

The property is being brought to market by Ray White Special Projects agents Andrew Burke and James Hanley.

With an annual gross income of $153,660*, Mr Burke said the property had rental uplift opportunity as well as huge capital growth prospects due to its proximity to the city.

“Kangaroo House is the perfect investment for buyers wanting to capitalise on the current severe

6 | PORTFOLIO | Ray White Commercial

undersupply of rental opportunities in the Brisbane metropolitan area,” he said.

“It’s the ultimate set and forget asset with strong longterm occupancy.

“The quality investment opportunity is located in the highly sought after suburb of Red Hill.

“The suburb is a predominantly residential area set in hilly terrain offering a wonderfully convenient lifestyle.”

Mr Burke said the property’s close proximity to amenities the Paddington dining and retail hub, Herston Health Precinct, Royal Brisbane Women’s and Children’s Hospital, as well as QUT’s Kelvin grove campus was a huge drawcard.

“Red Hill is characterised by its edgy café scene, with cafes and the Red Hill cinema right across the road from Kangaroo House.

PORTFOLIO | Ray White Commercial | 7

GREEN ENERGY STIMULATES AUSTRALIAN REGIONAL PROPERTY MARKETS As Australia heads towards net zero emissions by 2050 the push towards green energy has advanced many renewable energy projects across the country.

Regional Australia has already benefited from this increased demand resulting in strong gains in employment, population growth, and in turn residential rents and prices have seen upward momentum.

For commercial markets this sentiment is echoed, with a growing need for a mix of assets in regions which historically have little supply. An increased workforce grows vibrancy in communities around retail and community assets, growing businesses have taken up much commercial and industrial space as allied services also emerge, while the expansion of existing businesses continues. This increased demand has been instrumental in pressuring rents and values more recently and, as a result, the attractiveness of these locations has grown as investors look to secure quality long term tenanted assets.

While Queensland is set to become a powerhouse for renewable energy sources, towns such as Gladstone have already benefited from the uptick in these renewable energy projects, and will continue to thrive as they transition from fossil fuels to more green industries. Often known for its coal port and LNG export terminals, Gladstone is now rapidly moving towards long term sustainable, renewable resources to be the largest hydrogen producer in Australia, supported by the Federal Government’s National Hydrogen Strategy. Growing Gladstone into a “hydrogen hub” will further attract supporting businesses and manufacturing, enhancing demand for both industrial and commercial property. This will be the largest and most influential project for the region generating jobs, demand for property, and steadily improving long term prosperity rather than the boomand-bust movements this region has felt in the past.

There are also a number renewable energy programs operating and underway in the region, including solar projects, providing power to the local community together with wind farms. Manufacturing, including alumina industrial plants, will earmark Gladstone as the leading aluminium producer in Australia further growing in attractiveness by utilising hydrogen power.

Demand for these “greener” products are not limited to Australia, there is a high volume of production already exported across Asia and the Middle East which is expected to further increase.

Another coup for Gladstone is the recent announcement by the Queensland Government of a new $500million, world-class biorefinery.

Adding to the biofuels capabilities of the region, the ability to produce fuel via waste and recycled products strengthens plans to create a sustainable, export-oriented industrial biotechnology sector for Queensland, fueling the economic future for the region and contributing to the decarbonisation targets.

Strategically Gladstone and its deep water port facilities are well placed to see the long-term benefits of Australia’s commitment to renewable energy resources and our ability to export to a growing audience also committed to reducing their carbon footprint.

This investment into regional Australia will have longterm benefits for the community, creating a long term sustainable job market while being world leading in the quest for zero emissions over the next thirty years.

This sort of commitment will ensure a move away from the boom-and-bust economies we have seen in the past and create more stability for both the residential and commercial property markets.

VANESSA RADER Head of Research

Source: Department of Environment & Energy

8 | PORTFOLIO | Ray White Commercial

HIGH PROFILE BUILDING - SUITS OWNER OCCUPIER 189 Kelvin Grove Road, Kelvin Grove, QLD

Outlines & Locations Indicative Only

AUCTION

Thursday 16 June at 11am - Level 26, 111 Eagle Street, Brisbane • • • • • •

554m2* land area, 475m2* building area situated over two levels Corner location with significant exposure Leased to Bennett + Bennett Surveyors until end of December 2022 Net Income $206,487.28* + GST + Outgoings Zoned NC Neighbourhood Centre 8+ onsite car parks

Michael Willems 0412 240 176 m.willems@rwsp.net

raywhitecommercialgoldcoast.com

DOMINANT NEIGHBOURHOOD SHOPPING CENTRE 55-97 Braun Street, Deagon QLD

EXPRESSIONS OF INTEREST Closing Thursday 23 June 4:00pm AEST

This metropolitan neighbourhood supermarket boasts an impressive mix of essential service supermarket, childcare and healthcare tenants. The centre is anchored by a full-line Fresh & Save supermarket leased until 2031.

• Fully leased net income circa $1.5 million • Over 75%* of income derived from the anchor and mini-major tenants • Significant 14,070sqm* land holding, 15km* from the Brisbane CBD

Michael Feltoe 0447 714 899 michael.feltoe@raywhite.com Lachlan O'Keeffe 0413 464 137 lokeeffe@raywhite.com

*Approx

raywhitecommercialqld.com

HASTINGS ST MOTEL & CAFE/RESTAURANT LEASEHOLD 10 Hastings Street, Noosa Heads QLD

SALE $1.7M

#10 Hastings Street is a business opportunity that covers both beachside accommodation and food!

Purchase the leasehold over this entire property and generate substantial profits from the two income streams.

• 647m2* site on Hastings Street with 11-room boutique motel and fully equipped licenced cafe/restaurant.

• Strong local and tourist return trade • Businesses fully staffed - can easily run with minimal owner involvement

John Petralia 0414 812 719 john.petralia@raywhite.com

raywhitecommercialnoosasunshinecoastnorth.com

OCCUPY, INVEST, DEVELOP - FREEHOLD OPPORTUNITY 113 Russell Street, Cleveland QLD

Outline Indicative Only

EXPRESSIONS OF INTEREST Closing Wednesday 29 June 2022, 4pm

The property is a 911m2* 'Principal Centre' zoned allotment located on a high profile corner at the southern end of Cleveland's CBD. This zoning allows for a broad range of future development options up to 14m high.

• Existing buildings provide circa 187m2 of GFA + awning area of approximately 148m2*

Nathan Moore 0413 879 428 nathan.moore@raywhite.com

• Large sealed hardstand • Fenced rear yard area • Self-contained amenities

raywhitecommercialbayside.com

2125M2* DUAL DEVELOPMENT APPROVALS 2-10 Andrews Street, Cannon Hill QLD

EXPRESSIONS OF INTEREST Closing Thur 30 Jun 2022 12pm (AEST) • • • • •

6km* east of the Brisbane CBD and 3.1km* to the Gateway Motorway DA for 45 residential units (37 x 2 brm and 8 x 1 brm) DA for 3 lot realignment and 3 x NDIS buildings (27 dwellings) Designated Medium Density Residential (MDR) over 5 levels Located directly adjacent Cannon Hill Railway Station and opposite entry to Southgate Corporate Park

Mark Creevey 0408 992 222 mark.creevey@raywhite.com James Hanley 0408 999 755 james.hanley@raywhite.com

*Approx

raywhitespecialprojects.com

14 | PORTFOLIO | Ray White Commercial

CHILDCARE ASSET SALES DOUBLE AS DEMAND CONTINUES Demand for “set and forget” assets led the turnover of childcare assets in NSW to double in 2021.

Ray White Commercial head of research Vanessa Rader said many first-time buyers, as well as experienced investors, look to take advantage of low interest rates and increased equity in their own home to make a foray into commercial property.

“Given childcare is highly subsidised by the government, this has historically kept vacancies low, generating high levels of new supply over the years in both metropolitan and regional locations,” Ms Rader said.

“We saw turnover levels trend well in 2019 and 2020 with a growing pool of investors looking to secure good returning investments during a time of historic low interest rates.

“In 2021 this had not dampened, and we witnessed more buyers move up the risk curve purchasing assets in regional locations further narrowing the yields across locations.

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“Total sales or 2021 grew by 99.96 per cent to $279.77 million with a similar increase in both metropolitan and regional locations.”

The average sale price for regional investments sits at $2.3 million, while the average sale price for metropolitan assets is $5.2 million.

Over the first part of 2022, Ms Rader said NSW has seen a little over $25 million change hands with buyers showing greater caution given the threat of multiple interest rate rises this year.

“For more secondary assets this has resulted in vendors having to reassess their pricing expectations as the pool of buyers exercise more restraint, however prime quality assets in highly populated areas will continue to garner good results,” she said.

A childcare opportunity at 38-40 Lumsdaine Street, Picton, was recently sold for $5 million by Ray White Commercial (SC) principal Samuel Hadgelias in conjunction with Jai Sethi & Victor Sheu of Ray White Commercial - Western Sydney. .

The site has development approval for a 71 space childcare facility which will be leased by Leaping Learners upon completion.

There are currently 647 childcare projects in the development pipeline across NSW, with 545 in Greater Sydney, and 100 in regional NSW.

COVID-19 has done much to slow the development of Proving the strong interest in childcare assets, Mr new projects as planning times increased along with Hadgelias said the property received 153 enquiries and construction costs, coupled with the shrinking NSW was sold to a private local investor who was focused on population caused by net losses to other states such as building their childcare portfolio.

Queensland and WA and no overseas migration.

“People were attracted to the asset because it had a strong tenant, with an established presence in the market,” he said.

“Childcare centres are great ‘set and forget’ assets, meaning there’s very little involvement needed from investors.”

The Federal Government increased the childcare subsidy in March this year, and Ray White Commercial Western Sydney agent Jai Sethi said this could further increase demand for childcare assets.

“As this subsidy will be most beneficial for low-middle families they believe there will be higher demand for new centres in the areas where people have low income,” Mr Sethi said.

“There are 58 projects currently under construction (or site preparation), and of these 47 are across Greater Sydney predominately in Western Sydney,” Ms Rader said.

“Regional assets are heavily skewed to the northern coastal areas which benefited from high migration (and housing price increases) over the last couple of years.

“In addition to these projects there are a further 38 projects across the state which have been abandoned.

“New supply has been limited due to increased construction costs, and with population losses for NSW there has not been urgency across the development pipeline, however this could rapidly change if migration increases.”

“Occupancy will be consistently higher in those areas as childcare will be more affordable for low-middle class families in turn keeping investment interest high.”

Ray White Commercial Western Sydney currently has a childcare development asset listed in Lidcombe at 2-36 Church Street. The childcare centre is part of the Lidcombe Rise development which comprises 376 residential units plus retail across four buildings.

VANESSA RADER Head of Research

PRESTIGIOUS RETAIL TERRACE SOLD FOR $5.65 MILLION

A Woollahra retail terrace with a lot of history has sold under the hammer for $5.65 million, after hitting the

Nestled within Woollahra’s exclusive retail strip, 138 Queen St, sold for well over reserve.

“There was a lot of interest from existing property owners in the precinct.”

The auction received 12 registered bidders and eight active bidders.

Mr Morris said the market for quality retail properties Currently leased to a pharmacy, the 168sqm building across Sydney was strong. sold to a private Melbourne investor with a 1.5 per cent yield based on a net income of $84,687 per annum.

“Good properties supported by good fundamentals and location with a recession proof tenant are doing The vendor, who had migrated from Turkey, bought the well,” he said. property more than six decades ago where he set up a Mr Whiteman said the property next door sold privately 18 months ago for $3.62 million.

The mixed-use commercial building was marketed by Ray White Commercial Sydney City Fringe principal Kristian Morris, and Ray White Commercial Eastern suburbs principal Grant Whiteman.

“That retail precinct is so tightly held, rarely do freehold properties come up on that strip,” Mr Morris said.

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“This is further evidence the auction strategy, supported by a targeted marketing campaign, can produce a result like this.”

DA APPROVED TOWNHOUSE DEVELOPMENT SITE 223 Kingsway, Caringbah NSW

AUCTION

Wednesday 15 June 2022 at 10:30am - auctionWORKS, Mezzanine Level, 50 Margaret Street, Sydney • • • • •

Site area - 1,692sqm* DA approved for 9 oversized dwellings Potential to convert upstairs lounge area to a 4th bedroom^ Convenient access to Cronulla beach and Miranda shopping centre Walking distance to Caringbah Station and Caringbah town centre

Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com Leslie (Yifu) Li 0403 261 752 leslie.li@raywhite.com

*Approx ^Subject to Council Approval

raywhitecommercialsc.com

CORNER OFFICE SUITE WITH DARLING HARBOUR VIEWS Suite 505/22 Market Street, Sydney NSW

EXPRESSIONS OF INTEREST Closing at 3pm on Wednesday 8 June 2022 • • • • • •

Office floor area of 91 sqm* Corner position with existing fit out and Darling Harbour views Estimated gross rental income of $72,800* per annum + GST 190m* to Town Hall Station 350m* to Westfield Shopping Centre Offered with vacant possession

Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com Leslie (Yifu) Li 0403 261 752 leslie.li@raywhite.com

*Approx

raywhitecommercialsc.com

BOUTIQUE CBD RETAIL OPPORTUNITY Shop 2/250 Pitt Street, Sydney NSW

AUCTION

Tuesday 7 June 2022 at 10:30am - auctionWORKS, Mezzanine Level, 50 Margaret Street, Sydney • • • • • •

Ground floor shop - 16 sqm* Zoned B8, with permissible uses including hospitality, retail and office^ High ceiling with mezzanine, storage level potential (subject to strata approval) Estimated rental income of approximately $37,960* per annum + GST Established location with excellent customer exposure Offered with Vacant Possession

Leslie (Yifu) Li 0403 261 752 leslie.li@raywhite.com Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com

*Approx ^Subject to Council Approval

raywhitecommercialsc.com

PRIME MEDICAL INVESTMENT - LEASED TO ASX TENANT Ground Floor, 2a Rowntree Street, Balmain NSW

AUCTION

Thursday 30th June, 2022 • Centrally located in highly desirable suburb of Balmain • Leased to Medical Skin Care business "Artisan Aesthetic Clinics" • Covenant secured by ASX Listed company (Vita Group : VTG)

• Current Net Income: $171,000 + pa GST (approx) • Approx 186m2 + 2 car spaces on title + expansive 14m frontage • Close to transport links to Sydney CBD + City West Link

Zorick Toltsan 0411 227 784 ztoltsan@raywhite.com

raywhitecommercialdb.com.au

TWO OFFICE SUITES IN HERITAGE LISTED BUILDING Suite 802 & 806 / 250 Pitt Street, Sydney NSW

AUCTION

Thursday 28 June 2022 at 10am, Auction Works - Mezzanine Level, 50 Margaret Street, Sydney • • • •

Heritage listed Strata Titled office building Office suites offered For Sale, choose from either 26sqm* or 35sqm* or both Suite 802: 35sqm* - Rent $2,016.67 per month gross incl. GST on an expired lease Suite 806: 26sqm* - Rent $1,787.50 per month gross incl. GST to 25 March 2023 plus a 1 year option Inspections By Prior Appointment Only

John Skufris 0414 969 221 j.skufris@rwcss.com Domenic Severino 0416 000 339 d.severino@rwcss.com

*Approx

raywhitecommercialsouthsydney.com

POTENTIAL UPSIDE 421 - 425 Peel Street, Tamworth NSW 2340

SALE Prime Tamworth CBD location Four tenancies in total with an annual Net Rent - $142,741.60 15m frontage to Peel Street with 12 carparks - 8 secure parking & 4 spaces Information memorandum available upon request

Malcolm Campbell 0418 499 764 malcolm.campbell@raywhite.com

raywhitetamworth.com

A GOOD DIVERSIFICATION OF TENANTS 344 Peel Street, Tamworth, New South Wales

AUCTION • • • •

Net rent $66,440.00 10.5m frontage in a prime Peel Street location right in the heart of the Tamworth CBD Net lettable area 515 sqm (approx.)

Five tenancies in total - 4 ground floor and 1 upstairs

Malcolm Campbell 0418 499 764 malcolm.campbell@raywhite.com

raywhitetamworth.com

12 | PORTFOLIO | Ray White Commercial

FACTORY/WAREHOUSE - EXPOSURE TO EASTLINK 26/21 Eugene Terrace, Ringwood VIC

SALE

Expressions of Interest Closing 23rd June at 4pm unless sold prior • Clean Factory/Warehouse in the heart of tightly held Ringwood • High clearance clear span warehouse • Prominently positioned facing Eastlink

• • • •

Zoning | Industrial 1 3 phase power 4 car spaces 5m* high clearance tilt door

Brett Diston 0439 365 532 brett.diston@raywhite.com

• Building area | 370m2*

*Approx

raywhitecommercialdistonassetservices.com

16 | PORTFOLIO | Ray White Commercial

PERTH INDUSTRIAL VACANCY & MARKET OVERVIEW During 2021 the demand for industrial property across Australia was outstanding, investors continued to actively compete for assets resulting in new highs in transaction volumes, capital values and lows in yields.

Taking advantage of the low interest rate environment and in the quest to secure higher yielding investments saw many first-time buyers make their first foray into commercial property while interstate buyers looked to WA for its attractive yield proposition. Owner occupiers also took advantage of the low supply environment, sheltering from rental increases tipped to occur as vacancies reduced.

With interest rates showing signs of increase, inflation at high levels and the Federal election, there has been some caution return to the market which has put a dampener on sales. Conversely, the high demand for warehousing, logistics, manufacturing and growth in small business has kept vacancies low and rents elevated during a time of limited new supply.

Perth Industrial vacancy by precinct (sqm)

Source: Ray White Commercial

In line with the robust results seen across the Australian industrial market, take up across the Perth market has shown significant results. With only 367,150sqm recorded vacant across the total metropolitan area, this has fallen from 663,316sqm 12 months ago highlighting the appetite by tenants to occupy space. East has seen the greatest improvement recording 135,417sqm of take up across the year to now represent just 35.04% of all vacant space (down from 39.80%). The North precinct is now home to the

greatest amount of available space at 161,902sqm which still represents absorption of 72,264sqm over the same period. South continues to be home to the least amount of vacant space this period representing just 76,825sqm in total or 20.90% of the total market.

Encouragingly we are seeing demand in the smaller size ranges with assets in the 0-500sqm and the 5011,000sqm ranges demonstrating greater take up reducing their proportion across the total market. In the past these smaller assets dominated the leasing landscape however enquiry levels have increased by new users resulting in rapid absorption. The lack of new supply completions over the last year due to extended planning periods and to some extent materials shortage has ensured these vacancies remain low putting pressure on the rental market.

Over the last 12 months the Perth Industrial market has seen take up of close to 300,000sqm, dramatically reducing vacancies across all precincts and size ranges.

As such we have seen pressure build on the rental market after a prolonged period of stability, with rents now increasing at record rates as enquiry levels remain elevated. New supply has slowed due to elevated construction costs and owners are demanding higher rentals to cover these growing building cost and the shortage of supply in the market.

After an exceptional year of industrial sales transactions in 2021, there has been some moderation early this year. Strong demand by a wide range of buyers from owner occupiers buying through their SMSF, private buyers both locally and interstate, institutions and foreign buyer groups have all seen the value of industrial assets in Perth. During the year $1.957billion changed hands across 972 transactions which represents a volume change of 136.21% on the prior year. Assets in the sub $2million price range remain the most attractive investment choice represented by 81.28% of all transactions. We have seen strong growth in owner occupiers looking to shelter from future rental growth while smaller private investors including first time buyers looked towards commercial investment during a time of low interest rates and attractive yield spreads.

Read our full Between the Lines on the Perth Industrial market at www.raywhitecommercial.com/ research PORTFOLIO | Ray White Commercial | 27

PURCHASE IN ONE LINE OR SEPARATE 14 - 24 Hardy Street, South Perth WA

SALE

Offers Invited • • • • • •

Purchase in one line or separate 3,577sqm* (5 titles) Zoned Centre (R-AC0) Versatile uses PLOT RATIO 9.8 !!!

50,939sqm* GBA potential

• 42* levels possible under compliant scheme • Leased holding income • Redevelopment clauses

Michael Milne 0403 466 603 michael.milne@raywhite.com Brett Wilkins 0478 611 168 brett.wilkins@raywhite.com

raywhitecommercialwa.com

PORTFOLIO | Ray White Commercial | 13

WINNERS CIRCLE 118 Wrights Road, Addington, Christchurch, Canterbury

SALE/LEASE Architecturally designed 2 level office building overlooking Addington Raceway with the added entertainment offered on race days. Situated within a modern office park.

Excellent traffic linkages & close to the CBD. Ideal for an owner occupier or investor as the building could potentially be leased in multiple tenancies (subject to any consents).

Ground floor 431.8m2*, first floor 457.9m2* + balcony 26.6m2*. Building 916m2*. 73% NBS. Large land area of 2,062m2* (currently being subdivided). 31* car parks.

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

*Approx

www.rwcchristchurch.co.nz

Ray White Commercial (Christchurch) - Raine Blackadder Ltd - Licensed (REAA 2008)

EXCEPTIONAL LOCATION AND PROFILE TO SH1 361 Russley Road, Harewood, Christchurch, Canterbury

SALE/LEASE 7.6ha of land in the immediate Airport precinct. Prime location having four road frontages with exceptional profile & exposure to SH1. A rare opportunity, as freehold land of this magnitude is virtually impossible to obtain this close to Christchurch International Airport's operational side. The Specific Purpose Airport (SPA) zoned site is ripe for development. Capable of up to 24,700m2* building (subject to consents). A once in a lifetime opportunity, call now, because once it has gone, it's gone.

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

*Approx

www.rwcchristchurch.co.nz

Ray White Commercial (Christchurch) - Raine Blackadder Ltd - Licensed (REAA 2008)

CONTEMPORARY OFFICE UNIT IDEAL FOR AN OWNER OCCUPIER, INVESTOR OR TENANT Unit 5, 201 Opawa Road, Hillsborough, Canterbury

SALE Modern, neat & tidy 2 level office unit within a modern complex. Well located with excellent profile to a main arterial route linking the City to the Port of Lyttelton.

Advantaged by being the front unit, benefitting from extra profile & good natural light with windows on 3 sides. Ground floor 55m2*, first floor 50m2*, total area 105m2*.

73% NBS. Amenities on both floors for greater convenience. 6 car parks. Suit an owner occupier, entry level investor or a tenant. Value for money & worth your inspection.

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

*Approx

www.rwcchristchurch.co.nz

Ray White Commercial (Christchurch) - Raine Blackadder Ltd - Licensed (REAA 2008)

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