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Rare opportunity for investors in Christchurch industrial heartland

41 Waterloo Rd  hero

A rare investment opportunity in Hornby, Christchurch, underpinned by a new 10-year lease to Vodafone, has the added benefit of considerable development upside.

Located at 41 Waterloo Rd, the property covers 5,987sq m. It includes 3,099sq m of surplus land at the rear of the site, and a 304sq m building occupied by Vodafone New Zealand on a long-term lease with two 10-year rights of renewal and fixed two per cent annual increases.

Investment Sales Broker Courtney Doig of Colliers International says the offering meets all the criteria investors seek.

Purpose built in 2013 for network usage, the building is situated on the southern side of Waterloo Rd, and meets 100 per cent of the current building standards.

“There are so many options for this site – it’s unusual to have the benefit of a long term blue chip national tenant like Vodafone coupled with the potential of a development twist,” says Doig, who is marketing the property in conjunction with Hamish Doig.

“This offering gives an investor the opportunity to either develop the surplus land or sell it off, further enhancing the desirability of the offering. Alternatively it’s a great opportunity for an owner occupier, especially two street accesses giving increased flexibility,” Courtney Doig says.

“Properties in Hornby are tightly held. The area has matured and improved greatly over the past 10 years with a large amount of new development and refurbishment of older facilities taking place.

“The roading improvements and developments taking place in this area are a big driver for industrial demand.

“The upgrade of Halswell Junction Rd 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. The already completed western bypass links this area to the airport and north in just minutes.”

The burgeoning commercial/retail precinct in Hornby is located approximately 1.5km from 41 Waterloo Road and is home to the popular retail developments of The Hub Hornby Mall, Dress-Smart and Mitre 10 Mega Centre. Trade-retail is a growing market in this location with Placemakers, Bunnings Trade, Carters and ITM all in close proximity.

The property is being auctioned at 10am on Thursday 26 March, unless sold prior.

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Courtney Doig

Investment Sales Broker

Christchurch (Agency)

Courtney has won multiple national awards and is recognised as one of the star performers at Colliers. She is widely respected for her initiative, tenacity, and professionalism. 

During the past year, she negotiated more than $94 million of investment sales including a diverse variety of commercial buildings and ‘as is where is’ body corporates.

Rising to the top of the industry in a short time, Courtney was named Colliers International Rookie of the Year in 2014, after achieving the highest revenue of all new brokers. Since then she’s added Colliers International Managing Director’s Award in 2011 & again in 2013, followed by the REINZ Commercial & Industrial Rising Star of the Year in 2014 and General Manager’s Award in 2017. In 2018 she was recognised as the winner of the RICS Women of the Built Environment which promotes positive contribution to the property industry.

Courtney is the dominant broker in body corporate ‘as is where is’ sales, implicitly understanding the complexities of this sector. 

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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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