Industrial properties in Christchurch with significant underlying land value in established locations are in high demand, fuelled by the acute shortage of prime vacant sites.
These properties are particularly appealing for owner-occupiers, developers, or landbankers seeking to capitalise on Christchurch’s accelerating industrial growth, according to Sam Staite, Director of Industrial at Colliers Christchurch.
“The cost of building new, and the lack of available land near the central city, is helping with this demand. Refurbishing existing property is typically a lot more cost-effective than starting from scratch,” Staite says.
For instance, Staite cites a large 7,839sq m freehold industrial property being sold with vacant possession at 31 Lunns Road in the heart of Middleton that he is marketing for sale by deadline private treaty closing 21 May as one that will draw strong interest.
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The dual access property features an existing 1,298sq m building and extensive yard areas, offering exceptional functionality, flexibility, and long-term value. The facility was previously occupied by transport engineers Adams & Currie who have now moved to a larger premises.
“This is an ideal opportunity to buy a significant freehold asset, with functional improvements, at close to land value. Its Industrial Heavy zoning underpins its potential for a wide variety of tenants or end-users,” Staite says.
“With an extremely low site coverage of just 16 per cent, the configuration of this site offers room to expand, repurpose, or redevelop to suit a wide range of industrial users.”
Staite says significant land parcels with an Industrial Heavy zoning are hard to come by, especially with such strong connectivity to main arterials and the southern motorway network.
“Middleton is one of Christchurch’s key industrial corridors and properties are tightly held here.”
The location is extremely popular with industrial occupiers due to its roading systems, which provide direct access onto northbound State Highway 73, and State Highway 76 heading south, west, and east. The CBD is approximately 5km away.
- Supplied by Colliers
