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Christchurch

Significant piece of industrial land for sale

JLL marketing 89 Treffers Road, Christchurch


 

 

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89 treffers Rd outline small-min.jpgA substantial Christchurch development site is for sale through JLL in what is one of the fastest growing industrial areas of New Zealand. 

89 Treffers Road is a 4,794sqm site in Wigram, an area that is close to the Southern Motorway that has recently benefitted from the opening of a new bridge that links Wigram Road to Birmingham Drive. 

Under the zoning of Business 5, the property has the potential to accommodate a wide range of options including both light and heavy industry, processing and warehousing.

JLL agent Chris Harding who is marketing the property says, “With the projected growth in the area and the property being located within the western industrial precinct, close to the railway and main road network of Christchurch, the possibilities and potential for this site are huge.”

Research conducted by JLL shows that between 2013 and 2043, the population of Wigram and nearby Middleton areas will increase by 6,820 people, an overall increase of 121 percent, a higher percentage increase than Christchurch City, the Canterbury region and New Zealand. 

The recent JLL Industrial Pulse report for Christchurch indicates that industrial property in Christchurch continues to prove popular with both investors and owner occupier sectors. 

JLL’s Associate Director of Research, Tom Barclay says, “New supply has been consistently coming into the market. With it one might expect vacancy levels to rise. However, the market is relatively flat, indicating that the Christchurch industrial market has grown at a pace which is relative to the number of new builds entering the market.” 


The report indicates that prime vacancy rates sit at 5.5% and secondary vacancy at 6.3% with the western industrial area being the tightest market to enter. Says Barclay, “New supply threatens to weaken the secondary market as tenants opt to upgrade into higher quality space.” 

“A business looking to build a warehouse would see this site as a golden opportunity. The location and the lack of options available in this area means that being able to utilise the opportunity to create a purpose built premise is highly desirable,” says Harding.

89 Treffers Road is for sale by Open Tender closing 4pm, Thursday 26 October 2017 (unless sold prior).