Trophy Hornby property headlines major Christchurch auction
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.