Location: Rannerdale Village, 59 Hansons Lane, Upper Riccarton, Christchurch

Retain – Repurpose – Redevelop

• 11,330 sqm Residential Suburban Zone land
• Dual Street frontages, situated close to Bush Inn Centre
• Rest home buildings to be sold with vacant possession
• Holding income from part of site leased to preschool
• Tender closes 4.00pm on 12th August 2022

Chase Commercial Limited is very pleased to market for sale by tender 59 Hansons Lane, Upper Riccarton Christchurch on behalf of The Rannerdale Trust.

The property comprises the substantial Rannerdale Village retirement complex located on the eastern side of Hansons Lane with frontage to Suva Street in Upper Riccarton. Wrapping around the northern and eastern boundaries of the property is a very large green area which comprises the sports fields of the Middleton Grange school campus.

The property comprises 11,330 sqm of Residential Suburban Zone land. The retirement complex improvements were constructed in various stages from the 1950s through to 2016. Main accommodation wings underwent staged refurbishment in 2000 and 2010.

Also located on the property is the historic Kauri House comprising a two-level heritage building constructed in 1879-80.

Land forming party of the property at the Suva Street frontage comprising 1,470 sqm is leased to The Christian Schools Trust (Middleton Grange School) who have constructed a relocatable building from which they operate a preschool. The ground lease with The Christian Schools Trust has a lease renewal due in 2023 and two rights of renewal for further terms of five years.

The property is offered for sale with the retirement complex building vacant. Rannerdale Village ceased operations in March 2022. At the time of closing Rannerdale Village rest home complex was licensed to have 56 bedrooms and these rooms are served by 14 ensuites and bathrooms.

FURTHER INFORMATION

The following further information is available from the Agent:

• Property Information Memorandum
• Copy of Certificate of Title and various Easement documents
• LIM Report
• Copy of current building warrant of fitness
• Fire report
• Asbestos report
• DEE Letter
• Final strengthening letter
• Copy of Deed of Ground Lease
• Site and building plans
• Photographs

TENDER

Tender closes at 4.00pm Friday 12th August 2022

Conditions and Particulars of Sale of Real Estate by Tender (including Schedule of Further Terms of Sale) are available from Chase Commercial Limited, the Licensed Real Estate Agent acting for the Vendor.

Phone: +64 3 377 9394

Mobile: +64 21 221 9988

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Note Highlighted boundary indicative only