‘Outstanding’ Christchurch industrial property
General Cable’s sites at 466 Blenheim Rd and 75 Main South Rd Sockburn are identified by a blue border. Photo / Supplied
General Cable Corporation has released for sale its New Zealand head office and manufacturing site in Christchurch, comprising two large properties in Sockburn with a total land area of 7.19ha and building space totalling 36,137 sqm.
“This is likely to be the most outstanding offering of its kind in the Christchurch market this year,” says Mark Macauley of Colliers International Christchurch who, with colleague Sam Staite, is marketing 466 Blenheim Rd and 75 Main South Rd for sale by deadline private treaty, closing March 30.
“Large infill development opportunities in the favoured location west of the city are extremely rare and this sale represents is a huge opportunity for developers, investors or owner operators,” Macauley says.
“The range of potential uses is vast, including development and refurbishment on the site.”
The properties have become available following the decision by General Cable, announced in December, to close its manufacturing and distribution operations in New Zealand.
Manufacturing will cease at the end of March and the site is likely to be vacant by September.
Staite says Sockburn has remained one of the most sought-after industrial suburbs in Christchurch because of its excellent roading systems, good amenities and easy access to all areas of the city, including the CBD, Christchurch International Airport and Port Lyttelton.
He says the location also permits a wide range of other uses including residential, aged care, child care, educational facilities like Riccarton High School, and commercial uses such as retail outlets and service stations.
“With large manufacturing facilities having closed or relocated further out of the city, this is one of the last centrally-located properties to offer true scale,” Staite said.
“High-profile sites on Blenheim Rd are now largely developed and there are very few development opportunities here, which adds to the rarity and desirability of this property.”
The Blenheim Rd property has a prominent modern building located at the southern end with a huge profile and access onto the main arterial route.
“This building and surplus land lends itself to a much higher use than industrial warehousing,” Staite says.
Several buildings are located on the Main South Rd property, where there is also access from Watts Rd.
These range from lower stud workshops to large scale, high-stud, heavy manufacturing facilities with a significant power supply, gantry cranes and multiple building accesses. There is potential upside with further exposure to Blenheim Rd.
Staite says manufacturing, transport and logistics operations would all function well from the existing buildings and surplus yard areas add to the property’s appeal.