Impeccable property will be trophy asset in sought-after suburb
An impeccably renovated and restored 1970s building in Christchurch’s affluent suburb of Merivale is set to change hands.
Marketed by Courtney Doig and Sam Staite of Colliers, the property is for sale by deadline private treaty closing 22 June, unless sold prior.
Doig says 99 Papanui Rd, near Merivale Mall and within walking distance of the CBD, offers prospective purchasers a wide range of options from being an owneroccupier to developing the property. Papanui Rd is one of the main link roads connecting Christchurch’s CBD to the north.
“The property is currently zoned Residential Medium Density, but subject to zoning and consent we think this could easily be home to health and beauty operators, professional services or general business. It’s a true trophy asset,” Doig says.
“The current owners bought the property more than a decade ago and, with the help of Dennis Neil Design, carried out major renovation and refurbishment so the building would suit their high-end jewellery wholesale business.”
Since 2018, the building has been leased to an IT company whose final renewal ends in 2024.
The simple yet elegant building was originally configured with two fully contained two-bedroom units.
Doig says that before the major renovation, the building was also strengthened, rewired, replumbed and double-glazed. “As such, this will appeal to those looking for a new building.”
During the renovation, the ground floor was altered to remove the kitchen area and create a more open-plan feel while still retaining the two bedrooms, bathroom and laundry area.
The first floor saw dramatic changes with the ceiling height raised to 4m and two large windows installed to create more light for use as a showroom.
“Quality oak flooring on the first floor ensures quietness as a busy work area and, along with the modern kitchen, this truly is the ultimate office, showroom, and meeting space. Nothing more needs doing with three heat pumps, extensive data-wiring, two toilets and tile bathrooms completing the package,” Doig says.
The property features landscaping by Ben McMaster, a two-car garage and 17 asphalted car parks – rare and valuable in such a prime location.
Doig describes it as undoubtedly one of the best located sites anywhere in the city.
The property backs onto the prestigious Selwyn House School, while Acland House (Christchurch Girls’ High School’s boarding hostel), and St Margaret’s College are also nearby.
Merivale is one of Christchurch’s most sought-after and desirable suburbs, home to some of the city’s most popular schools, St George’s Hospital, Merivale Mall, and a thriving retail and hospitality precinct.