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Short supply of industrial land in Waimakariri

NZ_AucklandCBD_Communications_Short supply of industrial land in Waimakariri

Climbing population growth and accompanying development in the Waimakariri District has resulted in an acute shortage of greenfield industrial land in the catchment.

Waimakariri is suffering from a dearth of available bare land with Business 2 zoning, catering for the small to medium enterprises such as owner occupiers.

Noel Gilchrist and Sam Staite of Colliers are marketing one of the few parcels to become available in the area. The 13.08ha site is on the corner of Todds and Fernside Roads in Rangiora, the hub of Waimakariri. Fernside Road now connects with the recent addition of the Townsend Road Bypass, considerably increasing traffic.

The property is for sale by deadline private treaty, closing October 28.

Waimakariri is one of the fastest growing areas in New Zealand. Building consents and LIM applications in 2021 across the district are at a level not seen since the rebuild following the Canterbury earthquakes.

“There are next to no unencumbered freehold sites in the Waimakariri area. Greenfield land that is ripe for development is in short supply and any remaining land is tightly held,” Gilchrist says.

“Rangiora has limited greenfield development sites and the majority is controlled by just four owners who have an eye to future growth in the area. There has been no supply of small lots to the market in years and the demand is pent up.”

The Todds Road site will have wide appeal for a range of potential buyers, according to Staite, including developers, civil contractors or construction companies seeking a bigger base.

“A lot of those parties could develop the total site, and then sell off the land that’s surplus to their requirements,” Staite says.

“There’s been so much residential development north of Christchurch over the past decade and industrial land supply simply hasn’t kept up. The demand for industrial land across our entire catchment has been phenomenal, particularly in the past 12 months and the majority of our business parks are all but sold out.

“Ngāi Tahu’s Mānia industrial development in Hornby has almost sold out within just eight months while their Tawhiri Development in Rolleston is now also down to its last few lots.

“Freehold, unencumbered land is where the demand is, and we are sure astute developers will see this prime opportunity in Rangiora for what it is.”

Related Experts

Noel Gilchrist

Investment Sales Broker

Christchurch (Agency)

Noel is working collaboratively with many landowners to create larger inner city land holdings which allow for larger scale developments. In inner city Christchurch he has transacted many bare land sites in the past three years. These include 135 Hereford St, 139 Hereford St, 60 Cashel St, 59 Cambridge Tce, 77 Gloucester St, 254 Montreal St, and the RSA site.

Strengthening Noel’s investment sales expertise is his extensive experience in office leasing. His in-depth understanding of leases and lease structures help to realise the potential of properties for purchasers.

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Sam Staite

Director of Industrial

Christchurch (Agency)

Sam is one of New Zealand’s top performing brokers and has consistently been No. 1 in the South Island. Sam leads a team of eight successful and highly experienced agents who each have strong market share in their respective niche markets. He has negotiated the majority of the South Island’s largest industrial transactions during the past 13 years and in the past six years alone has delivered in excess of $830 million in sales.

Sam works closely with his colleagues across the AU/NZ Colliers network to ensure the Christchurch commercial market and his clients are widely connected. He works with corporate and private clients who benefit from his in-depth knowledge of the industrial sector, his proactive approach and strong business networks.

Recent highlights include the South Island’s largest industrial sale – the $53.75m transaction of 13 buildings known as Castle Rock Industrial Park, the $39m sale of Goodman’s Glassworks Industrial Park as well as countless sale and leasebacks for entities such as Turners and Growers, Online Distribution and BOC Gas.

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