Hornby warehouse showroom
Predictions are for another strong industrial property market in Christchurch this year, with buyers continuing to seek investments in the sector. Sam Staite, director of industrial sales and leasing at Colliers International in Christchurch, says the momentum from last year is carrying through into 2018.
“Interest in the market is incredible so early in the year,” he says.
“Last year finished very strongly with a high number of large scale transactions completed in the fourth quarter. The investment and development appetite is still focused on fundamentals with location being one of the most heavily weighted attributes.”
With this in mind, Staite expects strong interest in a large modern industrial warehouse and showroom in Hornby that he is marketing in conjunction with Colliers’ Christchurch managing director Hamish Doig.
The 9662sq m premises at 704 Halswell Junction Rd — featured in the latest Colliers Portfolio — was design built in 2005 as a flagship facility for glass manufacturer and installer Metropolitan Glass and Glazing
The property is for sale by deadline private treaty, closing March 15.
Situated on a substantial freehold section of 2.2ha, the two-level building features a conventional mix of quality showroom, offices and medium stud warehousing. A new extension to the premises was completed in 2016 and is approximately 330sq m.
Staite says Metro Glass has a further eight years to run on its lease, which expires in 2026.
Metro is Australasia’s leading manufacturer and installer of doubleglazed windows for both new residential and retro-fit markets and for commercial construction. It has an extensive network of four processing and 16 distribution or retail sites across New Zealand.
Via its subsidiary Australian Glass Group, it operates two processing and distribution sites in Melbourne and Sydney.
“The tenant is very heavily invested in this site and say how well it works for their business.”
The full height feature showroom, designed by Sumich Chaplin, offers maximum profile and street appeal to the main arterial route of Haswell Junction Rd; offices over two levels lead back from the showroom.
Offering a conventional ratio of 90 per cent warehouse and 10 per cent office/showroom, Staite says the building would well cater for general market needs.
“Situated a large freehold site of over 2.2ha, the building footprint only takes up about 42 per cent of the site leaving further expansion possibilities.
“Large yard areas, full drive around capability, expansive truck parking and container laydown areas plus great on-site car parking all add to the appeal.”
Hornby remains one of the most sought after industrial locations in the city and continues to grow at a rapid pace.