With eastern Christchurch evolving post-earthquakes with gentrification and investment taking place across suburbs, Woolston is becoming one of the city fringe’s most promising commercial hubs, according to agents leasing and selling in the area.

Investors have remained motivated and active in the Christchurch commercial property market, with a shortage of stock being the prominent handbrake rather than the economy itself. A neighbourhood retail centre in Woolston had the phones ringing from the day it was launched to the market, with brokers surprised at the early traction seen among local and national buyers.

The buildings at 669 and 681 Ferry Road, and 8 Portman Street, Woolston occupy a combined land area of 3,301sqm across four contiguous and individually titled sites at the corner of Ferry Road and Portman Street with dual access points. There is circa-1,589sqm of retail space arranged around a central sealed parking area, with income from 10 tenant businesses, including Woolston Sports Bar, Liquorland, Studio Hair, Fish n Chip on Ferry, Dominos, Night ‘n Day convenience store, and an ATM for ANZ.

The fully leased offering returns annual net income of circa-$393,000 plus GST and outgoings, with a weighted average lease term across the property of 3.5 years from August 2025.

It is for sale by deadline private treaty closing 14th August, unless sold prior via Graeme Donaldson and Steven Schwalger of Bayleys Christchurch.

Donaldson says Woolston has matured significantly since the earthquakes, and the neighbourhood centre for sale draws on a large residential and commercial catchment.

“I believe Woolston is coming of age and if the enquiry we’re receiving on this property is anything to go by, investors are recognising the long-term value of the location. As seen elsewhere around the country, the suburbs closest to CBDs are being reinvigorated and early adopters of property in these areas are well-positioned going forward – particularly those strategic sites with scale.

“The income spread across well-established occupiers mitigates risk, with some of these businesses having been onsite for a long time now. The property has been a legacy hold for the vendor who has looked after the tenants well, and with some leases currently under-rented, there's genuine potential to enhance value in the short to medium term through rental reviews and recouping OPEX as outlined in the lease.”

Donaldson says the property would be a strong contender for a family trust, property syndicate or forward-thinking investor, as it is underpinned by income and future potential.

“This could take the form of progressive rental uplift as leases expire, site intensification, or redevelopment in line with Woolston's ongoing urban renewal as the Local Centre zoning supports this repositioning.

“As the subject retail centre stands, the broad street frontage along Ferry Road and Portman Street gives dominant profile, access, and versatility for a range of commercial and service-based tenants so there’s no need to reinvent the wheel just yet. It simply provides a unique chance to secure a significant freehold landholding in one of Christchurch's fast-transforming suburbs.”

Located on a major arterial route just 4.5km from the CBD, Woolston sits between State Highways 74 and 76, providing streamlined access to the port, CBD, and eastern suburbs.