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Fully tenanted new building for sale in Rolleston

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Only one new building remains for sale in the expanding Rolleston Fields retail development in the thriving Selwyn District, 20km south-west of Christchurch.

Rolleston has undergone extraordinary growth over the past two decades, nearly tripling its population to around 80,000 residents. There are predictions it will top 120,000 people by 2030 as it continues to be a magnet for young families, in particular.

With a price tag of $9.4 million, the 1,983sq m Health and Wellness Precinct (Building A) on offer comprises six tenants, anchored by O-Studio, Motus Health, and Flex Fitness.

The $85 million development is spearheaded by the highly respected Cooper Developments in partnership with the Selwyn District Council.

The developers have a five-year vision for Rolleston Fields, with another five buildings planned, incorporating cinema and entertainment, further hospitality, and specialty retail.

Courtney Doig, Investment Sales Broker at Colliers Christchurch, says Rolleston Fields is set to become the hub of the burgeoning community.

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Building A is home to six tenants, including O-Studio, Motus Health, and Flex Fitness.

“The vendor is meeting the market, pricing to sell at a 7.25 per cent net yield so they can free up capital to further expand the complex,” Doig says.

“This is an exciting opportunity for an astute investor seeking the right opportunity to buy an immaculate new asset in a booming location. The developers have spent considerable time identifying the future needs of the community and have sought tenants to meet those requirements.

“Built in 2023, this building is fully occupied with strong tenant covenants and a good spread of risk. Fixed annual growth is built into each of the tenancies.”

Sitting on 2,133sq m of freehold land, Rolleston Fields has 500 car parks.

Doig says the other new building, a 1,601sq m medium format office and retail space anchored by Bargain Chemist and Petstock, is under contract and due to confirm shortly.

Enhancing the appeal of Rolleston Fields are key community attractions such as the local library, new skate park, and Foster Park – the largest sport and recreation park in the Selwyn District.

The new Christchurch Southern Motorway has drastically reduced travel time from Rolleston to Christchurch, to just a 15-minute drive. This has been a huge selling point for its expanding industrial area, comprising the business parks of IPort and Izone. The industrial transport hubs handle 92 per cent of Canterbury’s exports.

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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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