A high-profile industrial corner site is for sale in Hornby, Christchurch, leased to two established tenants.
Sam Staite, director of Colliers International’s Christchurch industrial division, is marketing 95 Shands Rd for sale by deadline private treaty, closing at 4pm on Thursday, July 25, unless sold earlier.
Staite says the property has been home to current tenants Brambles New Zealand Ltd, trading as CHEP since 2006; and BP Oil New Zealand Ltd since 2011 as a truck stop for BP.
Situated on a freehold 1.8062ha section on the corner of Shands and Halswell Junction Rds and Seymour St, the property features a conventional steel portal warehouse, office and amenities, all of which allow for maximum yard area and efficient vehicle access.
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The 3005sq m of warehousing, with “generous” stud height, is accessed via six roller doors allowing efficient inward/outward goods movement.
The secure and expansive sealed yard areas have excellent container lay-down, truck parking, and staff/ customer car parking, Staite says.
“The fixed rental growth and blue-chip tenant covenants mean this is an excellent bottom drawer investment, while providing a platform for future growth.
“The major Shands Rd off-ramp system will see traffic increase dramatically and will provide a vital link to the new motorway system and to the dense retail hub of Hornby which lies just 1km away.”
When complete and open to traffic next year, the new Southern Motorway in Christchurch is set to fuel growth in the industrial heartland of Hornby, Staite says.
He says the suburb is one of the fastest growing and rapidly evolving industrial areas of Christchurch and roading improvements in the area are a big driver for industrial demand.
“With Shands Rd set to be one of the main feeder roads to the new Southern Motorway, Hornby is going to benefit significantly in the short and long term. It will be a game changer for traffic heading to Rolleston and beyond.”
“Hornby has matured and improved greatly over the past 10 years with a large amount of new development and refurbishment of older facilities.
“The earthquakes of 2011 have been a considerable factor in driving the western/southern drift and this location is now one of the most sought after commercial/ industrial areas in Christchurch.”
The Hornby commercial/retail precinct is about 1km from 95 Shands Rd and home to retail developments of The Hub Hornby Mall, Dress-Smart and Mitre 10 Mega Centre.
Trade-retail is a growing market in this location with Placemakers, Bunnings Trade, Carters and ITM all nearby.
Developments like Waterloo Business Park have had significant uptake, mainly from owner occupiers and have lifted build quality.
Calder Stewart and Ngāi Tahu Property Ltd own most of the industrial developments in Hornby. The largest underway is Calder Stewart’s Hornby Quadrant.
Take up of the 150ha development is strong with the latest occupiers to sign up include Hafele, Penske, Komatsu and Winstone Wallboards.
They join Waste Management, Fletcher Steel, Sleepyhead, Seed Force, AB Equipment and NZ Trucks, who have recently moved into to new facilities.
The Penske Corporation of America, with revenues topping $26 billion and employing over 50,000 people worldwide, recently took possession of its truck service and showroom in Stage 2 of Hornby Quadrant.
Meanwhile, Ngāi Tahu Property has bought more than 70ha of industrial development land along the southern corridor between Hornby and Rolleston.
Scott McCulloch, South Island development general manager, says early inquiry reinforces Ngāi Tahu Property’s view of this sector.
“Today’s market is dominated by ‘last-mile’ logistics, which means ensuring that goods are reaching end-consumers, often direct from the warehouse as the popularity of online and omni-channel retailing grows.
“Our approach is to offer freehold land to owner-occupiers or smaller-scale developers and investors. This also allows us to provide design/build, lease or turnkey options.”
