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SOLD - Selling "As-is"

 413 St Asaph St, Phillipstown, selling "As-is"

Auction from 12pm, 12 March 2020 (unless sold prior)

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Security related businesses have occupied this building for over 2 decades with the lease finally coming to an end 25 May 2020 (subject to casual extension). First Security have already relocated their call centre outside of Christchurch but staff remain on site.

Unusually for a property with an NBS rating of 67%, the property is not insured. The owner's insurance claim was paid out however an insurance renewal was not possible without a number of exclusions. Instead the owner opted to self insure. The main reason for exclusions is the building's floor plate has sunk in one corner. Releveling is certainly possible with one quote obtained as recently as December 2019.

With rental income until May 2020 here is an opportunity to make plans, seek insurance and relevel if desired. At the same time the new owner will consider the best type of occupier and possibly repurpose.

A genuine "as-is, where-is" opportunity for value-add investors and owner occupiers. 

  • Floor Area: 390 sqm
  • Land area: 645 sqm 
  • 11 car parks
  • NBS: 67%

Auction from 12pm, 12 March 2020 (unless sold prior)

Access http://www.propertyfiles.co.nz/property/5511548 for the IM and other information or call Jeremy 0276 555647.



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