Hub developers dangle incentives
Land bankers are cashing up properties on the western outskirts of Christchurch International at the same that developed properties at Wigram are being offered to owneroccupiers and investors.
At Harvard Hub at Wigram on Stark Drive, investors and owneroccupiers are being targeted by the developer of a light industrial multi-use business park.
Harvard Hub is near the city’s southern motorway about 6 kilometres from central Christchurch.
The development includes 22 units spread over five buildings catering for a range of businesses.
Most units have been sold to investors or owner-occupiers, with one remaining for sale - 275 square metres of space with views, natural light and the ability to be split into two separate tenancy areas.
It has air conditioning, six car parks and a central stairway to draw in the clients.
The trend of businesses relocating back to central Christchurch is reflected in an incentive sale package being offered.
It includes a fitout package worth $115,000, and a two-year leaseback providing an investor with an annual rental of $88,575 a year plus outgoings for two years from settlement date.
Paula Raine of Ray White Commercial said the mix of tenants at Harvard Hub included includes Ray White Real Estate, Adidas, communications specialists Quasar Systems and long-established Foleys Plumbing alongside growing local firm Mainland Roofing.
Others such as HCB Technologies, and Wigram Dairy are joined by the Meshino Cafe´ .
Raine said the revitalisation of the Christchurch CBD was now well underway but there were many businesses contributing to the of the city’s economy outside of the four avenues,’’ she said.
‘‘Some set up shop in the outer suburbs out of necessity following the 2011 earthquakes, then found that they flourished in their new settings and never wanted to go back to the CBD,’’ Raine said.
At nearby 15 Avenger Crescent a modern warehouse building in Wigram Business Park is also on the market.
It is being marketed by Benjamin Dwan and William Wallace of Savills Real Estate.
The building is split into two separate tenancies occupied by painting and building maintenance company Floor Store and developer and owner Carus.
With Carus Group moving to a bigger property, the unit will be becoming vacant in the next 12 to 24 months, offering an opportunity for industrial owner occupiers as well as investors.
Meanwhile two bare land blocks are for sale including a 7 hectare block at 361 Russley Rd in Avonhead next the Christchurch International Airport, and an 11.97 ha block at 206 Shands Rd in Hornby. Land title records show they are owned by LNV Trustees whose directors Lane Neave lawyers as nominees. The settlor of the trust was Graeme Heazlewood who has owned properties near the airport for many years.
The Russley Road block is within the Special Purpose Airport Zone which allows for car parking, warehouse and distribution, commercial services, or retail and hospitality operations.
Both blocks are being marketed for sale by Greg Mann and Nick O’Styke of Bayleys Canterbury.
There are several main access roads, and Mann said the block would be most suited to freightforwarding, or business activities providing aviation and tourism services.
The Shands Road block industrial general- zoned land allows for warehousing and distribution, service business premises, petrol stations, yardbased locations, and retail units.
"Some set up shop in the outer suburbs out of necessity following the 2011 earthquakes, then found that they flourished in their new settings and never wanted to go back to the CBD." Paula Raine of Ray White Commercial