Public Trust Office part of Christchurch’s heritage

A genuine trophy property holding and a rare piece of Christchurch’s heritage is on offer, with the sale of the refurbished Public Trust Building via exclusive agents CBRE.

The grand neoclassical-style building, which was completed in 1925 for the Public Trust Office, was damaged in the 2010-2011 Canterbury earthquakes and has since been strengthened and completely refurbished by its owner, local property investor Box 112.

Regarded as an iconic and precious masterpiece following the loss of more than half of Christchurch’s heritage commercial buildings during and after the earthquakes, CBRE is presenting the extremely rare opportunity to the open market to acquire this cherished piece of Christchurch’s heritage, as a quality, fully occupied, office building in a soughtafter riverfront commercial location in the CBD.

CBRE Christchurch managing director Tim Rookes is leading the international deadline private treaty marketing campaign, which closes at 4pm on Thursday 25 November, alongside senior broker Cameron Darby and CBRE’s Australasian Capital Markets team.

The five level office building, featuring 2194 sqm of predominantly character offices and the popular rooftop bar, Mr Brightside, with its extensive views, has been the talk of the town since it emerged from its refurbishment late last year, said Rookes.

‘‘The Public Trust Building with its ornate facade and gilded coat of arms is an absolute showpiece on the riverfront in the centre of Christchurch. It has real wow factor.’’

Aside from its visually striking design and immense historical significance, the building is also a high quality office asset in a prime position on the O¯ ta¯ karo/Avon riverbank just north of The Terrace, Christchurch’s buzzing riverside hospitality precinct, Rookes said.

‘‘Following the earthquakes the riverside office precinct has emerged as a dress circle location of choice for office occupiers and the Public Trust Building also benefits from the rental premium which heritage buildings command,’’ he said.

‘‘Combined with the Public Trust Building’s heritage status and skilful refurbishment, these factors mean it will always be a soughtafter option for tenants who demand the prestige of a riverside address and prefer the uniqueness and beauty of heritage space over newly-built offices.’’

The striking gilded coat of arms frames a grand entrance featuring a restored timber revolving door, built in 1919. The building’s lobby, with its soaring, ornate 6m high ceiling, showcases the beautiful, restored terrazzo floor, along with the original steel-framed elevator and grand stairwell, said Rookes.

‘‘Along with the seismic strengthening work and renovation of the show-stopping fac¸ ade, the interior of the building has also been meticulously refurbished, achieving an attractive character space which also boasts modern flexibility.’’

The building was seismically strengthened in 2009, an investment which ensured it remained standing (although significantly damaged) following the earthquakes. It was later threatened with demolition before being purchased by Box 112 for restoration in 2017, Darby said.

‘‘Box 112’s purchase of the building signalled a new era and a rebirth for the Public Trust Building. They have achieved a magnificent outcome which places the building in an excellent position for its next 100 years.’’