Redevelop or Retain
Redevelopment opportunity with solid holding income
Expressions of Interest close 4pm, 16 May 2019 (unless sold prior)
- Location: 15-21 Main South Road & 29 Ballantyne Ave, Upper Riccarton, Christchurch
- Property Use: Worker Accommodation
- Land Area: 1.7089 ha
Workotel, formerly Riccarton Holiday Park, provides affordable worker accommodation and continues to generate solid revenues from accommodation units spread over a vast 1.7ha residential site. As the rebuild moves down a gear the overseas owners are considering their options and have put the Freehold Going Concern up for sale. They will also consider working with a joint venture partner bringing new ideas, expertise and capital for a possible redevelopment of the site. Subject to obtaining appropriate consents the property is in a prime location and of a scale ideal for a range of uses including student accommodation, social, community and affordable housing, reintegration services, aged care, education, medical and more. Handy to a range of amenities, the property is just 1.7km to University of Canterbury, 200m to the nearest supermarket, 250m to Bush Inn Shopping Centre and just 2.1km from Westfield Riccarton Mall.
Method of Sale: Expressions of Interest close 4pm, 16 May 2019 (unless sold prior)
Contact Jeremy today for further information (0276 555647).
For the Information Memorandum, LIMs, titles etc please register here or use this URL www.propertyfiles.co.nz/559804