A property leased to the Christchurch offices of Sky Television and a big community services organisation in the suburb of Middleton is for sale.
"This is a high-profile site with a wide street frontage and 60 car parks," says Stewart White of Bayleys Canterbury who, with colleagues Chris Frank and Alex White, is marketing 12-14 Birmingham Drive for sale by deadline private treaty closing at 4pm on Friday, June 30 - unless sold earlier by negotiation.
Along with Sky Television, the property houses the southern regional headquarters of Idea Services - the entity which supports adults with intellectual disabilities; enabling them to live in their own homes and be part of their local communities.
The 5771sq m of commercially-zoned land and about 2694sq m of commercial space generates a combined annual rental revenue of $545,495.
Sky TV pays $342,830 per annum on an eight-year lease running through until 2022 with two further six-year rights of renewal and Idea Services pays $202,665 per annum on a six-year lease running through until 2021 with two further three-year rights of renewal.
"With a mix of warehousing and office space, the property works extremely well for Sky Television as New Zealand's largest satellite television provider; while access to the office area of Idea Services is via a separate entrance - making them completely independent of the other tenant," White says.
