Merivale Real Estate

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7 Saint Albans St

Canterbury Area
7 Saint Albans St Canterbury Area
Thursday 11th March - 4:00PM
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Rare Merivale Village Investment Opportunity
This is your opportunity to purchase this high profile commercial investment within the tightly held, prestigious Merivale Village precinct. The distinctive character building has been significantly renovated and upgraded by RPC Construction in 2016, post the events of 2011 and now has a 100% NBS rating. The building has been brought up to a modern standard with the installation of new exterior wall cladding consisting of plastered aerated concrete panels on a ventilated cavity system and the roof replaced with colour steel long run roofing, whilst still retaining its character charm, with feature lead light windows and ornate ceilings. There is an 8 year lease in place to Jan Primus Limited, trading as Sprig & Fern Tavern (Lease Commenced September 2017). Sprig & Fern have twelve taverns throughout New Zealand and provide a cosy, family-friendly atmosphere. The leasing of 66.6m² of vacant, sunny self-contained office suite complete with its own toilet and kitchenette facilities, will increase the yield for the new owner with a further projected income of $23,000 net p.a. + GST. The opportunity to secure an investment like this is indeed rare, offered for sale for the first time in 35 years. Properties of this calibre and location rarely come onto the market. Invest in this exclusive commercial enclave where both national and international tenants thrive. Generous on site shared car parking within the 1,146m² property. - Rare investment opportunity - Exclusive Merviale retail precinct - Significantly renovated and strengthened to 100% NBS - 1146m² commercial core zoned land
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