Attractive option in south hot spot
A well-presented industrial facility that has housed a top international packaging business for over 20 years is for sale in a premier Christchurch location.
The stand-alone factory, warehouse and office premises in Hornby is fully leased to Opal Packaging NZ, generating an annual net rental return of $580,000 plus outgoings and GST.
A member of global giant Nippon Paper Group, Opal is this country’s leading supplier of corrugated cardboard box packaging, with manufacturing sites in Auckland, Hastings and Christchurch.
The company has signed a new six-year lease to occupy the facility until 2030, with two further six-year rights of renewal. The lease agreement provides for fixed annual rent increases of 2.5 per cent, replaced by market rent reviews every three years.
The freehold land and buildings at 51 Halwyn Drive, Hornby, are being marketed jointly through Bayleys Real Estate and Colliers. The property will be sold by deadline private treaty closing on Friday April 12, unless sold prior.
Bayleys salesperson Nick O’Styke said the nearly 5100sq m of buildings sat on approximately 9355sq m of freehold land with some 50 carparks.
Constructed with structural steel frame and precast concrete panel on concrete floors and foundations, the building has an IEProcedure rating of 68 per cent NBS.
“Originally dating from the early 1990s, the property was later extended to the rear providing more warehouse space with drivethrough accessibility,” O’Styke said.
“The more than 3600sq m factory/warehouse is accompanied by office space comprising a bright reception area and a mix of open-plan office, meeting rooms and staff amenities, including an outdoor courtyard.
“The balance of the premises contain storage areas and a compacting room.”
The facility is accessible via multiple roller doors and is complemented by a secure sealed yard and parking areas with dual automatic entry gates, enabling easy vehicle access and manoeuvrability.
It sits within the Industrial Heavy zone under Christchurch’s District Plan, in a coveted industrial area typified by high occupier demand and little availability of sizeable investment properties.
O’Styke said the strategic location ensured excellent road and rail access and proximity to the city’s CBD, airport, SH1 and the key transport and logistics hub of Rolleston.
“Hornby is considered one of Christchurch’s most desirable locations for industry for good reason. This well-established precinct has excellent infrastructure to cope with increasing demand, including ample power services and amenities for staff.
“Occupiers include a mix of local and national business in fields such as logistics and manufacturing,” O’Styke said.