Heritage building on market for first time
One of Christchurch central’s few remaining heritage buildings, the art deco Post Office building, is being sold.
The building, on the corner of High and Tuam streets, is home to Alice in Videoland, a small theatre and film library.
It is the first time the former government-owned building has ever come to the market.
The building is owned by Paul and Mary Stewart, the founders of Alice in Videoland. The couple have owned the property since the late 1980s after they took up an option to buy the building from the government.
Paul and Mary Stewart were previously tenants at the front of the building for about five years.
The Stewarts used a heritage grant to upgrade the property.
‘‘That was really the start of the revival of High St in those days.’’
The Post Office was built in 1932 as the central telegraph office of Christchurch, and the Stewarts revived the Post and Telegraph Office name using old photographs and the original rivets that held the first sign.
Stewart said the Post Office was originally designed as a brick building but, following the Napier quake, the government of the day changed the specifications to reinforced concrete.
‘‘It was an expensive build at the time, costing £24,000.’’
The build meets 75 per cent of the new building standard, introduced after the Canterbury earthquakes. It was relatively unscathed after the February 2011 earthquake and only required cosmetic repairs.
When the building reopened, the separate video rental business moved across the road and C1 Espresso tookr the front tenancy.
‘‘It was about several months before I finally was allowed into the building to have a good look around,’’ Stewart said.
‘‘We didn’t know for a long time what sort of shape it was in and if there was damage that couldn’t be seen. But it’s built like no tomorrow. It’s a damn fine building. I think it will go on for hundreds of years.’’
Stewart said he had some other projects he wanted to complete, so has decided to sell.
Alice’s, which his two sons now run, has a new 10-year lease in place with two further rights of renewal of five years each.
Colliers International brokers Courtney and Hamish Doig are marketing the building, which will be auctioned on March 8.
It will be sold with vacant possession on levels two and three. The floor areas cover 205.39 square metres each.
Courtney Doig said the CBD mixed-use zoning meant the two upper levels could be converted to inner-city apartments.
‘‘They’re fantastic spaces and there’s a wonderful spiral staircase leading to a rooftop terrace that has views right around the city,’’ she said.
Doig said the building’s usable floor plates, natural light, high ceilings and ornate features could cater to a wide range of tenants.
‘‘It’s an unusual opportunity to be able to buy a heritage building in the CBD now, most particularly one in such beautiful condition.’’