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Prized property asset on the market in wake of Caterpillar sale

Prized property asset on the market in wake of Caterpillar sale  hero

The main Christchurch base of the Gough Group for most of the past 50 years is now being offered for sale.

Last year, the Canterbury family-owned business operations were sold to Sime Darby Berhad, one of the largest Caterpillar heavy machinery dealers globally. It has a range of commercial interests in the New Zealand transport sector.

The remaining asset is a huge and highly coveted industrial site at Amyes Road in Hornby, Christchurch, where the heavy machinery operations are housed.

The property was not part of the sale to Sime Darby although they are still located at the site and have taken a further lease through to 31 January 2024, providing excellent income for a new owner. Sime Darby Caterpillar New Zealand operations are now trading as Terra Cat.

Covering 5.1ha, the site fronts onto Amyes Road and Branston Street, comprising seven independent buildings with a combined floor area of 14,025sq m and a large parcel of brownfields land.

The property is being marketed by Hamish Doig and Mark Macauley of Colliers International in Christchurch.

“We’re expecting widespread interest from investors and developers in this property, both because of its location and size,” says Doig.

“Christchurch developers are always looking for large brownfield development opportunities in the Hornby area and we’re expecting national interest due to the scale of the opportunity.”

Hornby is one of the most sought-after industrial areas in Christchurch, undergoing a substantial makeover since the earthquakes with significant new builds and the burgeoning retail developments led by the Hornby Hub.

Macauley says the Gough land is ripe for future redevelopment.

“There are multiple future opportunities to redevelop the property as an industrial park utilising the existing buildings and developing further new facilities. Alternatively, its proximity to Hornby Hub and Dress-Smart could pave the way to develop trade-based retail.

“Land developments in the area have had significant uptake and have lifted the calibre of build quality in the Sockburn/Hornby catchment.”

The roading improvements and developments taking place are a big driver for industrial demand. The upgrade of Halswell Junction Road has greatly improved the flow of traffic and the upcoming opening of the Southern Motorway Stage 2 will be a game changer for traffic heading to Rolleston and beyond, Macauley says.

The property, located at 22-24 Amyes Road and 16 Branston Street, is for sale by deadline private treaty, closing October 14.

Related Experts

Hamish Doig

Managing Director

Christchurch (Agency)

Hamish is Managing Director of Colliers International in Christchurch. He is regarded as one of the most influential and well-connected investment brokers in the South Island and one of the most successful in New Zealand.

Hamish is a trusted advisor to his many high-profile clients, proactively building value into their portfolios by identifying investment opportunities. A strategic thinker, he is always solutions focused and sees opportunities where others see challenges. 

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Mark Macauley

General Manager

Christchurch (Agency)

Mark is a high achieving investment broker specialising in investment sales and has negotiated in excess of $1.3 billion of sales both in Canterbury and throughout New Zealand. He has been instrumental in some of the biggest commercial property transactions in the South Island. 

Mark’s extensive national network of institutional clients, family trusts and high net worth individuals are always seeking opportunities in the commercial property market. He is a partner and general manager of Colliers International in Christchurch and was previously managing director of CBRE locally for 12 years.

Recent major transactions include: the former Police Station at 68 St Asaph Street ($24.7m); Opus House, 12 Moorhouse Ave ($37.5m); Westpac, 7 Show Place ($14.5m); 282 Durham St (confidential); and 124-140 Kilmore Street ($25.2m). 

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