Weekend Herald

Trophy Hornby property headlines major Christchur­ch auction

- — Article supplied by Colliers

A trophy property in Christchur­ch’s soughtafte­r industrial suburb of Hornby has been listed for sale. Leased to an NZX-listed subsidiary, the high-profile property is expected to garner widespread national interest.

The A-Grade offering at 89 Buchanans Rd is being marketed by Christian Kellar, Hamish Doig and Oliver Salt of Colliers, who are also selling another blue-chip property at 11 Establishm­ent Drive in Hornby.

Both were developed and are owned by a private family and are scheduled for auction on August 5.

Built by Calder Stewart, the 5085 sq m high stud warehouse and office building at Buchanans Rd sits on a high-profile 8281 sq m site.

Kellar describes the property as having a large range of desirable investment attributes, including a high spec industrial building, sought-after location and landholdin­g, highcalibr­e tenant, functional northfacin­g offices, an abundance of carparking and large yard, and two access points.

The property is leased to Dimond Roofing, owned by NZX-listed Fletcher Building. The tenant provides strong annual income of $530,740.

Establishm­ent Drive is a new industrial asset just completed by Calder Stewart and finished to their trademark excellent standard, says Salt.

The property is made up of a large clear span warehouse and single level offices covering 1664 sq m on a 2802 sq m site. The warehouse has multiple roller doors with drive through capability and dual access points.

“Like Buchanans Rd, this property has outstandin­g fundamenta­ls that make it very appealing to investors and owner occupiers who are looking for an A-Grade industrial asset which ticks all the boxes. “

Establishm­ent Drive is located in Calder Stewart’s Hornby Quadrant industrial precinct, adjacent to Ngai Tahu’s new developmen­t on the former Watties site.

Two other modern industrial assets are set down for auction on August 5, making it one of the biggest industrial offerings in Christchur­ch this year.

Hornby is one of the most sought-after and evolving commercial/industrial areas in Christchur­ch with huge growth forecast over the next five years. It has been greatly gentrified over the past decade with substantia­l refurbishm­ent and repurposin­g of older facilities.

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