Description

We discovered what we would almost call a unicorn in the Christchurch market—an exceptional investment opportunity that ticked all the right boxes. As soon as we identified Mathesons Road, an off market property, we reached out to the owner to gauge interest in selling. Shortly after, the property attracted significant attention, leading to a multi-offer situation with three other interested parties.

This standout property featured six renovated one-bedroom units, each with its own garage, offering strong rental potential. The property was self-managed and under-rented, providing immediate upside for the new owner. Both the interior and exterior had recently been renovated, ensuring a low-maintenance, high-quality asset. Located in a highly sought-after area for developers, many neighboring properties had already been redeveloped, making this a prime future opportunity.

What set us apart in securing the deal was Michael’s commitment to preserving the existing community—ensuring the tenants were looked after rather than redeveloping the site into modern townhouses. This aligned with the owner's wishes, giving us a competitive edge in the multi-offer process.

Winning the deal for Michael our Premium Buyers Client, we worked closely with the owner to support the tenants through the due diligence and settlement process. Not only does this property offer immediate cash flow, but with planned rent increases, it will soon achieve a 7% gross yield. Additionally, the option to separate each unit onto its own title presents a significant value-add opportunity. This flexibility to sell units individually if needed in the future, combined with its prime location, makes this an outstanding long-term investment.