A large modern tilt slab industrial property in a preferred Christchurch precinct has come to the market for sale or lease as the current occupier prepares to exit the site later this year.

Now having a total floor area of 5,315sqm, the building at 21 Waterloo Road, Hornby was purpose-built in 2002 with 3,574sqm of warehouse space for produce business Freshmax, which was acquired by T&G Global in 2020 bringing together two of New Zealand’s leading fresh produce companies for efficiencies in the domestic supply chain. An additional 887sqm of warehouse was added in 2016.

Zoned Industrial Heavy, the modern distribution centre is at 67 percent new building standard and sits on a 10,202sqm corner site. It offers 4,461sqm of warehousing with cool storage capacity and container height doors, 304sqm of office space, and a 550sqm canopy.

There are two road frontages, multiple access points with drive-around capability, a truck dock, and generous sealed yard areas with ample parking.

The property has been owned by a small Canterbury syndicate since it was built more than 20 years ago. The vendors would be keen to find a synergistic new occupier for the property but will also consider offers from prospective purchasers.

It is being marketed for sale or lease with vacant possession by negotiation through Stewart and Alex White, Bayleys Canterbury.

“The property has location, scale and scope on its side. It hits the sweet spot in terms of warehouse-office ratio and could suit a wide range of occupiers including construction, logistics, distribution and manufacturing.

“Since built, the property has worked well for food-related distribution and it could be a great fit for other like-minded businesses.

“While the expectation is that the building will be returned to base build at lease end, there may be some residual value in the existing fitout for the right occupier.

“The cool storage and cool plant belong to the current tenant, but an incoming tenant or an owner-occupier buyer may want to negotiate for some of these components to remain onsite if it would streamline their transition to the property and mesh with their operation.”

White says the location has proven to be one of the city’s best industrial locations as confirmed by the success of the nearby Waterloo Business Park and the shortage of available industrial stock with scale for lease or sale in the area.

“This property could actually be leased to two occupiers which is a consideration for owner-occupiers who may not require the full footprint, an investor prepared to scout for suitable tenants, or occupiers with a business model that could co-exist with another tenant.”

Waterloo Road is handy to the residential areas of Hornby and Sockburn, and is bolstered by the surrounding industrial areas of Wigram, Sockburn and Islington.

“It’s around five-to-seven minutes’ drive from the airport, 10km from the CBD and in close proximity to the main arterial roading network via State Highway 1.

“This provides optimal connectivity for logistics and manufacturing businesses and underpins the viability of the subject property for an astute new owner or tenant.”

Click here for more information on the listing.