Prized asset on market following Caterpillar sale

The main Christchurch base of the Gough Group for most of the past 50 years is now being offered for sale.

Last year, the Canterbury familyowned business operations were sold to Sime Darby Berhad, one of the largest Caterpillar heavy machinery dealers globally. It has a range of commercial interests in the New Zealand transport sector.

The remaining asset is a huge and highly coveted industrial site at Amyes Road in Hornby, Christchurch, where the heavy machinery operations are housed.

The property was not part of the sale to Sime Darby although they are still located at the site and have taken a further lease through to 31 January

2024, providing excellent income for a new owner. Sime Darby Caterpillar New Zealand operations are now trading as Terra Cat.

Covering 5.1ha, the site fronts onto Amyes Road and Branston Street, comprising seven independent buildings with a combined floor area of

14,025sq m and a large parcel of brownfields land.

The property is being marketed by

Hamish Doig and Mark Macauley of Colliers International. “We’re expecting widespread interest from investors and developers in this property, both because of its location and size,” says Doig.

“Christchurch developers are always looking for large brownfield development opportunities in the Hornby area and we’re expecting national interest due to the scale of the opportunity.”

Hornby is one of the most soughtafter industrial areas in Christchurch, undergoing a substantial makeover since the earthquakes with significant new builds and the burgeoning retail developments led by the Hornby Hub.

Macauley says the Gough land is ripe for future redevelopment.

“There are multiple future opportunities to redevelop the property as an industrial park utilising the existing buildings and developing further new facilities. Alternatively, its proximity to Hornby Hub and DressSmart could pave the way to develop trade-based retail.

“Land developments in the area have had significant uptake and have lifted the calibre of build quality in the Sockburn/Hornby catchment.”

The roading improvements and developments taking place are a big driver for industrial demand. The upgrade of Halswell Junction Road has greatly improved the flow of traffic and the upcoming opening of the Southern Motorway Stage 2 will be a game changer for traffic heading to Rolleston and beyond, Macauley says.

The property, located at 22-24 Amyes Road and 16 Branston Street, is for sale by deadline private treaty, closing October 14.