The doors have sadly closed on the Airport Raeward Fresh and its highly-popular café. The positive is now you have a once-in-a-lifetime opportunity to secure a freehold corner asset, positioned with over 100m of direct frontage to State Highway 1, directly within the Christchurch International Airport precinct. The profile and access to this property is unrivalled in Christchurch.
The opportunities here are vast for owner-occupiers, value-add investors, and developers alike. The circa 4,680 sq m improvements on the site were largely constructed through the late early 2000s with development of the now vacant large produce retail area and adjoining café (fitted out circa 2011), plus the addition of the significant cool/cold storage facilities. These are now largely occupied by Bidfood for the purpose of meat processing. Bidfood, which has been in occupation for over 13 years, has approximately three years remaining on the final lease term which has a final expiry date of October 2026. Anyone within the food processing industry will understand the value of developing new, and will appreciate the opportunity to occupy this space at a fraction of the cost of replacement.
Major retail offerings directly across the road to the south include Bunnings, BP and Taco Bell, while the city's largest rental vehicle development, Mustang Park, adjoins the property to the north. The zoning of the land is Specific Purpose Airport Zone and allows for a wide range of activities, subject to zoning rules, from retail activities, food and beverage offerings, entertainment, yard and trade based suppliers, industrial activities plus many more.
Underpinning this site, and of particular interest to the development market, is the regular shaped 18,480 sq m parcel of freehold land with multiple access points. The vast sealed yard and car parking areas add to the appeal and to the potential savings should someone decide to redevelop.
Rarely have we seen an asset such as this that offers so much in the way of options and potential upside. This property is available for definite sale with all offers to be presented. Be quick and register your interest today.
For sale by Deadline Private Treaty closing 4pm, Wednesday 6 November 2024 (unless sold prior).
*Boundary lines are indicative only.
Features:
* Over 100m frontage to State Highway 1
* Christchurch International Airport precinct, directly across from retail precinct
* Corner freehold title of 1.8480ha
* Strong holding income from Bidfood
* Ability to occupy, repurpose or redevelop
* Multiple access points
* Under-utilised site with room for further improvements
* Ample on-site car parking
