20-26 Sir William Pickering Drive, Burnside, Christchurch

State-owned tenant - 16.8 year WALT

• Airways Corporation of New Zealand occupying three buildings
• Large freehold landholding over two titles
• Long-term WALT over two leases with built-in rental growth

Spanning a 17,313sqm landholding over two titles, and supporting three office buildings with a net lettable area of 8,960sqm, plus 237 car parks; 20-26 Sir William Pickering Drive is a complex which comprises the Andy Herd Building (AHB), the Airways Development Centre (ADC), and the Air Traffic Centre (ATC).

The state-of-the-art two-storey ATC facility is a base-isolated, Importance Level 4 (IL4) structure housing a specialised flight control network, engineered to maintain operational continuity in the event of natural or other disasters.

The buildings are well-maintained and cater to the needs of Airways as the long-term tenant, returning a net operating income of $2,907,570.57 per annum, with a weighted average lease term of 16.8 years across the buildings.

This is a high-performing asset, with future potential upside which is a standout in the current market.

20-26 Sir William Pickering Drive, Burnside is to be sold by way of Tender (unless sold prior) closing at 4pm on Thursday 1 May 2025 at Bayleys Canterbury, 3 Deans Avenue, Addington, Christchurch.

For further information, please contact the sole agents today.