Skip Ribbon Commands
Skip to main content

News Release

Christchurch

Large industrial Ferrymead property comes to market

JLL Commercial Sales and Investment Agent Chris Harding has been appointed to run the marketing campaign of 1014 Ferry Road, Ferrymead, which is being offered for sale by private treaty.


 

 

Significant piece of industrial land for sale /new-zealand/en-gb/news/848/significant-piece-of-industrial-land-for-saleChristchurchSignificant piece of industrial land for sale
Historic West Coast Hotel for sale/new-zealand/en-gb/news/849/historic-west-coast-hotel-for-saleChristchurchHistoric West Coast Hotel for sale

​​​​​Aerial Edited.jpgThis large industrial site, previously leased to New Zealand’s Haydn Brush Company, spans a total of 4,373sqm of land and is being sold on an ‘as is where is’ basis.

Constructed in the 1980s, the north facing property is set upon a rectangular lot and consists of a 1,590sqm warehouse, 324sqm office space plus an additional 251sqm mezzanine floor and a 2,700sqm sealed yard which borders a native reserve.

 “Christchurch industrial properties are receiving high levels of enquiry and rapid selling periods, particularly well-located assets such as 1014 Ferry Road,” says Harding.

Ferry Road is located in the rejuvenating estuary hub of Ferrymead, the main thoroughfare to reach eastern sea suburbs such as Sumner and has seen much new construction in the pipeline post-quake. These new developments are a result of positive market conditions and steady demand as industrial property continues to perform as the favoured asset class in Christchurch, backed by strong investor confidence. 

Although vacancy has risen slightly over the last 6 months to 4.2%, it is still tight within the Christchurch industrial sector as most quality industrial stock on the market is absorbed quickly. 

“1014 Ferry Road previously produced a net rental of $175,160 per annum and presents a strong investment opportunity in line with current market conditions, as occupier demand and building supply have stabilised and rental rates are forecast to hold at current levels over the medium term in the Christchurch market” says Harding.

Harding adds “Industrial property continues to be the favoured asset class in the Christchurch commercial property market​ having the strongest underlying fundamentals and the backing of strong investor confidence. There is a limited amount of quality stock on the market and what does come on line is absorbed quickly.”

This property falls under the Christchurch City Councils Business 4 zone; this zone is purposed to provide for light industry, warehousing and servicing industries and general commercial activity, and is designed to serve as a buffer between suburban living zones and the General Industrial Zone (Business 5).​