One of Christchurch’s most recognisable heritage buildings has been placed on the market, with the Public Trust Building in the central city now up for sale.
Located at 152 Oxford Terrace, the building overlooks the Avon River and is being marketed by Colliers agents Mark Macauley, Marius Ogg and Hamish Doig. It is for sale by Deadline Private Treaty, closing 5 June.
Originally designed by architect Cecil Wood and opened in 1925, the property has undergone extensive strengthening and refurbishment. It includes two buildings: a four-level main structure with basement, mezzanine and rooftop bar, along with a three-level annex with multiple office tenancies.
The property is over 97 percent occupied, with tenants including Commonwealth Safe Deposits, WT Partnership, Fulton Hogan and Mott Macdonald. It spans 1,018 square metres of land and is currently divided into 13 tenancies.
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Ogg said the building offers a mix of fixed rental increases and regular market reviews, which supports its income potential.
It sits near several major CBD features including Cashel Mall, Riverside Market, and The Terrace, and is close to key developments such as the Te Pae Convention Centre and the soon-to-be completed metro sports facility.
Macauley said the Avon River precinct is tightly held, and few similar assets have changed hands in recent years.
“Christchurch’s CBD continues to see strong interest from office, retail and hospitality tenants, and vacancy rates remain low,” he said.
He added that broader city developments, including the new multi-use arena due next year, are expected to support future demand in the area.
According to a recent Business Canterbury survey, 47 percent of respondents expect the region’s economy to grow over the next year, and 51 percent were positive about their own financial outlook.
