Auction sale (unless sold prior)
11am, Thu 28 May 2026
3 Deans Avenue, Christchurch
Positioned in the heart of Riccarton, one of Christchurch’s most established and consistently high-performing rental hubs, this exceptional triple income investment presents a compelling opportunity for investors, land bankers, and developers alike. Renowned for its proximity to University of Canterbury, strong tenant demand, and ongoing intensification, Riccarton continues to deliver dependable returns and long-term growth potential.
Situated on a 759sqm (more or less) freehold title within High Density Residential zoning, the property comprises three substantial dwellings. Configuring; 49 – six bedrooms, two bathrooms; 49A – six bedrooms, two bathrooms plus an additional toilet; 49B – seven bedrooms, three bathrooms. Whether you’re seeking a hands-off, high-yield asset or exploring future development options, this is a strategic acquisition in a tightly held location.
Significant future upside is available, with a planning report outlining the potential to remove the front villa and develop two new student accommodation dwellings. Recent planning changes may allow for three new builds instead (subject to council consent). This creates a strong opportunity to increase rental income and enhance overall asset value, supporting both short-term returns and long-term capital growth.
Three dwellings, two with six bedrooms and one with seven bedrooms
Strong combined rental income of $3,895 per week ($202,540 per annum) until late 2026
Income is spread over three fixed term tenancies
Middle and rear dwellings constructed in the late 2000s; character front villa dating to the 1920s
759sqm (more or less) freehold site with High Density Residential zoning
Planning report available outlining potential for two additional student accommodation dwellings
Fully compliant with Healthy Homes Standards
The vendor warrants that the properties will be signed up at a total of $4,370 per week on a fixed term tenancy for the following student year, prior to settlement
Located within proximity to University of Canterbury, Christchurch Hospital, and Westfield Riccarton, the property consistently appeals to both university and polytechnic students, ensuring strong occupancy and ongoing rental demand.
Additional benefits include off-street parking, an increasingly rare and valuable feature in this high-density precinct. With tenants already in place, the property delivers immediate cash flow from day one. The vendor is committed to a sale, presenting a genuine opportunity to secure a high-performing asset in a proven location.
Open home times are scheduled below, or contact us directly to arrange a private viewing.
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