Land in Rolleston’s Tawhiri industrial park proving popular

Land in Rolleston’s Tawhiri industrial park proving popular

151 Hoskyns Road, Rolleston, Canterbury

The Property
- A 4.4ha site in the first stage of the 32ha Tawhiri industrial business park development
- The park adjoins the Izone Southern Business Hub, and is close to IPort Business Park and Rolleston town centre
- Titles expected by end of this year
- No build ties on the land
- Zoned Business 2A under the Selwyn District Council Plan

Quick Look
- National Total Property marketing campaign
- Sites were for sale by negotiation
- Robust networking between agents and their existing clients drew out a buyer
- SOLD for $165/sqm
- Purchased by an established developer

The Story

Iwi-owned intergenerational property developer Ngāi Tahu Property is selling down sites in its Tawhiri industrial business park located on former farmland in Hoskyns Road, Rolleston.

Nick O’Styke and Harry Peeters of Bayleys Christchurch have been marketing available freehold sites in Stage 1 of the Tawhiri project, with early sales proving that investors and owner-occupiers are hungry for land in the area.

“Land is priced from $165 per square metre making it extremely competitive in the marketplace – particularly when compared with the asking price of other similar industrial land in the vicinity,” said O’Styke.

“Along with clear locational advantages close to State Highway 1, Ngāi Tahu Property’s pricing model and an attractive rating structure from Selwyn District Council makes the proposition compelling for developers in the industrial space.”

Further, the sites have excellent geotech profiles making for a more economical build and are zoned Business 2A under the Selwyn District Council Plan allowing for a wide range of business uses.

Peeters said big players in the development market committing significant resources to establishing a presence in the Rolleston area gives confidence to others looking to invest – as does general market fundamentals.

“The industrial sector continues to perform well and has shown resilience and innovation in the face of unprecedented pandemic conditions.”

Vendor Comment

Blair Brown, Development Manager for Ngāi Tahu Property, says the values of the Bayleys team align with those of the iwi-owned intergenerational property developer.

Ngāi Tahu Property has a strong presence in the industrial property sector having completed several other successful Ahumahi-industrial developments, including Wigram Business Park which met Christchurch’s post-earthquake needs and various developments along Blenheim Road completed in the early 2000s.

Brown said the South Island boasts a growing and valuable range of industries ranging from manufacturing to agricultural services and logistics – hence the industrial sector needs quality land and property to support it.

“The Tawhiri development provides value to the market being within a desirable and well-established industrial area which is well positioned for major transit links,” he said.

“Additionally, Ngāi Tahu Property is providing wider choice to the market for tenure and development and our flexible approach to development offers both land sales and design/build/lease options, catering for owner-occupiers and investors, which has resonated with the market.”

Brown endorsed the Bayleys’ team and said it has a proactive approach.

“Bayleys knows the industrial market well and we’ve enjoyed the growing relationship with a responsive team which is knowledgeable about Tawhiri.

“Importantly, the way they work aligns with our values, including tohungatanga – expertise.”

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