Double offer in Pegasus commercial hub
A substantial portion of the commercial hub servicing North Canterbury’s recently established and fast-growing satellite township has been placed on the market for sale.
The two properties are located in Pegasus Town Centre and include the suburb’s foremost hospitality destination overlooking Lake Pegasus.
Immediately adjacent to State Highway One, the master-planned township of Pegasus 30kms north of Christchurch began emerging from rural farmland in 2006, with the first section titles issued in 2008. By 2010, the bulk of the community facilities were completed, including the genesis of what is now the core commercial centre.
Since then, an 18-hole golf course and primary school have been added to community infrastructure. The town now has 1800 residential homes sustaining a population of approximately 6000 with additional residential dwellings planned and under construction.
Pegasus Town commercial centre lies at the heart of the township and services the immediate and wider residential catchments of Waikuku Beach, Kaiapoi, Rangiora, Woodend and Ohoka, whose populations are expected to grow significantly with continued migration out of Christchurch.
The properties for sale encompass two addresses – 62 Pegasus Main Street and 8 Tahuna Street – sitting on a combined landholding of 4169-square metres. Both modern structures have access to substantial car parking spaces.
The Tahuna Street and Pegasus Main Street land and buildings are now being jointly marketed for sale by deadline private treaty through Bayleys, with offers closing on December 9, 2021, unless sold prior.
Director of Investment Sales, Layne Harwood, and broker Alex White said the two properties offered a diverse tenancy mix of retail, commercial, service and hospitality. They can be purchased in one lot or separately.
The tenancies within the properties generate a combined net passing income of $413,052 + GST per annum.
‘‘Positioned in the heart of the Pegasus residential precinct, Pegasus Town Centre is an outstanding amenity that supports both the local community and visitors. This offering comprises two of the three commercial buildings within the town centre,’’ said Harwood.
Constructed in 2018, the purposebuilt single-level 363-sqm boat shed style building at 62 Pegasus Main Street housing The Good Home Gastro Pub has views over Lake Pegasus. Sitting on some 1219-sqm of land, the location also has a quarter-share in car parking space for approximately 86 vehicles.
Meanwhile, the attractive twolevel 1412-sqm commercial building at 8 Tahuna Street was constructed around 2010 and contains anchor tenants Waimakariri District Council and Ray White. Sitting on some 2950-square metres of land, the ground floor includes five retail units, while the first floor has six office spaces – with all tenants having shared access to amenities and around 40 car parks.
‘‘Being relatively new, both buildings are well maintained. Within the Tahuna Street property, there are some vacancies providing the opportunity to develop the investment profile and lease the building to full capacity.’’