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Development sites up for sale in new urban industrial estate

Tags: Commercial

A selection of 12 bare land development sites in an expanding industrial estate on the northern boundary of metropolitan Christchurch have been placed on the market for sale.

The new industrial precinct at Kainga near the Waimakariri River is to be known as the Waimak Bridge Business Park - sitting immediately adjacent to State Highway 1 and accessed off Empire Road in an area zoned Industrial Heavy.

The 12 sections within the Waimak Bridge Business Park being marketed for sale range in size from 1,886 square metres up to 10,488 square metres. The Industrial Heavy zoning allows for industrial-related activities - with their high levels of noise and heavy vehicle movements - to be conducted in the area, along with the storage and use of hazardous substances and products.

Four of the sections as currently laid out have prominent frontage onto State Highway 1 – allowing for high profile signage to be visible to some 48,000 vehicles passing daily, while a fifth corner site sits on the apex of the motorway off-ramp and Main North Road. An additional five of the proposed adjoining sections will also have frontage onto Main North Road.

Under the development blueprint for the burgeoning industrial hub, Empire Road will be extended to run through the middle of the estate and link up to the Main North Road arterial route – thereby increasing connectivity for the properties being sold. The new road’s width will vary between 12-14 metres, with two metres of landscaped shrub, tree or grass verge plantings, and the installation of street lighting.

The selection of freehold sections at 27 Empire Road is now being marketed for sale through Bayleys Canterbury. Salesperson Jeremy Speight said individual land titles were expected to be issued later this year, with building work commencing immediately after.

Prices are only $240+GST per square metre for plots ranging in size from a 1,886-square metre site, up to the biggest 10,488-square metre landholding.

“The configuration and size of the sections for sale offers buyers a virtual ‘blank canvas’ to work from – with the option of purchasing multiple adjoining sites if a bigger footprint is required,” said Speight.

“The sites could appeal to both owner-occupiers and investors looking to develop premises for tenanting. For example, the location is prime for the construction of terraced warehouse units suitable for tradies such as plumbers, electricians, builders and service technicians requiring small storage space and minimal office amenities.

“Alternatively, warehousing could just as easily also be constructed to service larger manufacturing-related tenants.”

Utility services will be provided to each site as part of the Waimak Bridge Business Park development phase. Water bores can be sunk on all plots – with the developer making a $7,000 contribution towards the cost of drilling.

Speight said that the developers of Waimak Bridge Business Park had invested significantly into the offsite stormwater and sewer infrastructure to enable a consent to be granted for offsite stormwater discharge.

“As a consequence, a discount of 92 percent on stormwater development contributions has been secured for section purchasers – valid for what is expected to be 10 years from the time owners apply for building consent,” he said.

Access to Kainga from Central Christchurch has recently been improved with the 12-kilometre extension of State Highway 1 which has significantly reduced commuting times. Existing companies operating in the immediate vicinity around 27 Empire Road within Kainga include a multitude of home building and construction services firms.

“As Christchurch city’s metropolitan urban boundary has continually expanded to the north over the past decade, so too have both the activities and presence of industrial activity based companies. Now leading the move north, Kainga is the next geographic extension of the city’s industrial precincts,” Speight said.

“As a brownfield development, land at Waimak Bridge Business Park on a per square metre rate is considerably cheaper than existing industrial precincts closer to the city centre.”

Click here for more information on the listing.

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