Vacant Wigram warehouse offers fast track into prime industrial hub
A soon-to-be-vacant high-stud warehouse facility is being tipped as a rare fast-track opportunity to establish a base in a Christchurch industrial stronghold.
Positioned in the Wigram industrial precinct, the more than 2700 square metre site for sale is leased to an engineering firm until March 2023, returning a net rental income of $199,040 plus outgoings and GST per annum. It will then be available with vacant possession.
Bayleys Canterbury salesperson Nick O’Styke said vacant premises of this quality in a prime industrial location were extremely scarce.
‘‘With the lease not being renewed, the opportunity is there for a business to take possession of a prized industrial building within a much shorter time, and at a fraction of the cost, compared with a new build,’’ O’Styke said.
‘‘The chance to be in there and operating in a robust, proven facility in Christchurch’s premiere industrial location, within a matter of months, is a rarity in a tight industrial property market.’’
The freehold property at 17-19 Kilronan Pl is part of Wigram’s industrial heavy zone under Christchurch’s district plan with good transport access to State Highway 1, Main South Rd and Christchurch International Airport.
It is surrounded by diverse businesses in industries such as transport, storages, waste management, automotive services, and home and building supplies, many housed in modern industrial buildings with associated offices and showroom space.
The existing tenant uses it as a base for its activities as a specialist manufacturer and supplier of fuel tanks.
The approximately 2027m2 building is located on a 2738 square metre fee simple site with 19 car parks.
The building has been seismically strengthened to 67% of New Building Standard.
O’Styke said the industrial premises, constructed in the 2000s, combined a conventional warehouse facility with two levels of offices and amenities which had just been fully upgraded.
‘‘The more than 1800 square metre warehouse is constructed primarily with concrete tilt slab, steel portal frame and a concrete slab floor and foundations,’’ he said.
‘‘With an 8.5-metre-plus stud height and convenient movement of goods in and out of the building via three roller doors, this is an operationally functional and versatile space that will appeal to a wide range of business users.’’