The 1.1118-hectare property in the South Canterbury city of Timaru consists of a 1,870-square metre workshop and administrative office complex sitting in the middle of an expansive mostly sealed truck parking and storage yard.

The property is located adjacent to the former Timaru A & P Showgrounds north of the town’s central business district, which is now being developed as The Mega Centre retail hub – with anchor tenants to include Bunnings and Countdown.

The generally rectangular-shaped property for sale is zoned Industrial under the Timaru District Council plan, and has parking for up to 60 vehicles. Eversley Street links directly onto State Highway 1.

Originally built as the Bowlerama 10-pin bowling complex in 1988, the main building within the complex has recently been upgraded throughout, including the installation of a new roof and fascia, while the external yard of approximately 1,150 square metres has recently been asphalted.

The front-facing portion of the vacant single-storey building houses a reception area, separate male and female washrooms including a wheelchair-accessible facility, a large staff canteen with kitchenette, and some offices – with the option to easily add more office space – in a 430-square metre footprint.

The rear portion of the building contains some 941 square metres of warehousing accessed through four roller doors of the same width. The building has been strengthened to a new building standards rating of 67 percent.

Adjacent to the main vacant building is a smaller office and workshop unit occupied by a farming services company, whose lease includes a sealed yard to the rear of the building. A construction company leases a corner portion of the site for storage and an administrative office.

The freehold land and buildings at 3-7 Eversley Street in Timaru are now being marketed for sale by negotiation through Bayleys Timaru. Salesperson Terry Connolly said the site comprised some 2,680 square metres of undeveloped flat land which offered a vast array of opportunities to both developers, and potential owner-occupiers looking for new premises.

Zoned Industrial under the Timaru District Council Plan, the address is held under two separate titles.

“This really is a ‘blank canvas’ opportunity throwing up so many development permutations for any new owner,” Connolly said.

“In its present structure for example, the main building within the site could easily be repurposed to accommodate a civil works, engineering, or infrastructure services entity operating a fleet of vehicles which require significant yard storage supported by a workshop warehouse and commercial offices.

“The current three roller doors at the rear of the main building could be expanded into higher entrance points to accommodate access by big rigs.

“Alternatively, the current central positioning of the workshop and garage buildings within the property could easily be kept as the holding income foundations to sustain the development of a bigger light industrial multi-use hub making more efficient use of the currently vacant land.

“For example, there is ample room to construct a terraced-style complex around the periphery of the site’s flat and gently sloping boundary – maintaining the current workshop and office infrastructure intact to ensure a broad selection of multiple different tenancy options,” said Connolly.

“Any tilt-slab terraced development of this type could be along the lines of a construction and building focussed ‘tradie’ business hub likely to be tenanted by builders, plumbers, gas fitters, and electricians, who require both storage capacity, and a small allocation of administrative office space.

“We know from speaking to the market that there is very much a need for this style of commercial development in Timaru, and have a database of clients looking to lease premises of this type in units up to 500 square metres. There’s very little stock of this nature to choose from at present though.”

The Eversley Street property is currently partly tenanted. The rural supplies company occupies some 358 square metres of warehousing space and part of the yard area, and is on a lease running through to 2023 paying annual rental of $46,000.

The vacant workshop/warehouse and office building, along with its yard space, has an assessed rental of $154,810 per annum when tenanted.

A local residential construction firm occupies a segregated part of the yard on a lease running through to 2025 paying annual rental of $14,000.

A 505-square metre strip of land to one side of the property beside a railway line is leased from Kiwirail at a cost of $2,500 per annum. Connolly said this brought an overall benefit to the property.

Click here for more information on the listing.