Climbing population growth and accompanying development in the Waimakariri District of northern Canterbury has resulted in an acute shortage of greenfield industrial land in the catchment.
Waimakariri is suffering from a dearth of available bare land with Business 2 zoning, catering for the small to medium enterprises such as owner-occupiers.
Noel Gilchrist and Sam Staite of Colliers are marketing one of the few parcels to become available in the area.
The 13.08ha site is on the corner of Todds and Fernside Roads in Rangiora, the hub of Waimakariri.
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Fernside Road now connects with the recent addition of the Townsend Road Bypass, considerably increasing traffic.
The property is for sale by deadline private treaty, closing October 28.
Waimakariri is one of the fastest growing areas in New Zealand. Building consents and LIM applications in 2021 across the district are at a level not seen since the rebuild following the Canterbury earthquakes.
“There are next to no unencumbered freehold sites in the Waimakariri area. Greenfield land that is ripe for development is in short supply and any remaining land is tightly held,” Gilchrist says.
“Rangiora has limited greenfield development sites and the majority is controlled by just four owners who have an eye to future growth in the area. There has been no supply of small lots to the market in years and the demand is pent up.”
The Todds Road site will have wide appeal for a range of potential buyers, according to Staite, including developers, civil contractors or construction companies seeking a bigger base.
“A lot of those parties could develop the total site, and then sell off the land that’s surplus to their requirements,” Staite says.
“There’s been so much residential development north of Christchurch over the past decade and industrial land supply simply hasn’t kept up. The demand for industrial land across our entire catchment has been phenomenal, particularly in the past 12 months and the majority of our business parks are all but sold out.
“Ngai Tahu’s Mania industrial development in Hornby has almost sold out within just eight months while their Tawhiri Development in Rolleston is now also down to its last few lots.
“Freehold, unencumbered land is where the demand is, and we are sure astute developers will see this prime opportunity in Rangiora for what it is.”
- Article supplied by Colliers
