Spring Portfolio
Christchurch | 2022
Meeting of the minds needed as market adjusts to new normal
CBD office and retail space in high demand
Capital flows targeting New Zealand creating opportunity for borrowers
Squeeze continues in the warehousing and logistics sector
“Globally, there is an enormous wall of capital sitting with large funds and investors, who are now looking for placement opportunities following a few years of conservatism. Many of these entities are now looking at the New Zealand market from an equity and debt perspective, with genuine interest from global wholesale investors.”
Through 2022, offshore capital has shown greater interest in the New Zealand commercial property market. New Zealand domiciled borrowers also now have more capital options if they are prepared to look at a range of debt and capital sources, according to Richard Zhao and Alex Nikolaou, Directors of CBRE New Zealand’s Debt and Structured Finance team.Re-opened borders are encouraging well capitalised, yet cautious, investors to target New Zealand and foreign capital is set to make up a significant proportion of acquisition activity this year and next, says“ThereNikolaou.ispent up demand for investment grade assets in New Zealand,
In the Christchurch CBD, record low vacancy in the office market is prompting developers to proceed with major development projects, with three currently in advanced planning stages. The first will be the Carter Group’s fourstorey office and retail building on the former Regent Theatre site on Cathedral Square, adding much-needed new office space to a supply-starved market.
Covid-19 has delivered an unexpected positive with several notable corporates relocating staff out of Auckland to other centres including Christchurch, where staff can work remotely. This is resulting in positive net migration of highly skilled professionals and their families
In this environment, the challenge (and the opportunity) facing the property market is a meeting of the minds, as buyers, sellers, tenants and landlords grapple with a much-altered playing field.
Capital flows targeting New Zealand creating opportunity for borrowers
Ōtautahi’s gathering place in full swing for the year ahead, Te Pae Christchurch Convention Centre
CBRE’s business is also growing, with our national and local teams doubling in size with the acquisition of nationwide valuation business, TelferYoung, in July this year. This bolsters our core valuation service line, adding residential and agribusiness valuation to our national offering. We now have a strong platform for further growth from 19 office locationsDespitenationally.thecurrent macroeconomic challenges, the outlook for the Christchurch CBD property market is positive. Those owners who are able to weather the current storm are likely to benefit from rental growth and an uplift in sentiment following the Council’s commitment to proceed with the Te Kaha multi-use stadium. The stunning new convention centre, Te Pae, is now in full swing with a full schedule of events for the next 12 months. There is now also real momentum in East Frame housing construction, which is welcomed by central city retailers and hospitality operators.Allthese projects are immensely positive for the city centre – and with a particularly cold, wet winter now behind us, we look forward to central city retailers seeing increased trading in the lead up to Christmas.
Alternative capital and debt sources have become a valuable consideration for local investors as New Zealand has ridden a wave of rising commercial and residential property values. The resulting yield compression presents a risk as interest rates continue to rise, Nikolaou says.“In the commercial property market, properties that could previously manage large debt loadings may have needed to scale back, which is not always easy. In the construction space, while global supply chain issues seem to be easing, inflation remains significant around the world. Locally, a cooling residential property market, slow supply and labour rebounds, and rising interest rates, are also pushing volatility across a range of metrics.“Inthis inflationary environment, commercial property will look relatively attractive as an asset class due to its proven record as an inflationary hedge. This is due to the fact that over the long-run, market rents largely rise with inflation, with short-term variations from changes in market fundamentals. As a result, this increases capital values in line with inflation over the long term.”
Positive outlook for Christchurch CBD property market
Tim Rookes, Managing Director at ChristchurchCBRE
however there is a sense the market is waiting to see where yields land before pressing forward with meaningful investment. A rebound in activity for value-add assets is expected as more capital looks for a home, and yield, in New Zealand.”Therewas $77.5 billion in cross-capital flows to the Asia-Pacific region, North America and Europe during the second half of 2021, representing a 60% yearover-year jump. Capital inflows to APAC totaled $9.6 billion, which was the highest amount in the past decade. This was in direct contrast to H2 2020, during which cross-regional capital flows flatlined due to market uncertainties caused by Covid-19, says Zhao.
The initial shock of interest rate increases has now been replaced by a climate of ‘painful certainty’. The official cash rate (OCR) is heading to four per cent and banks are factoring margins of at least two to three per cent. This is seeing lending capability tested at around the six to seven per cent level.
Zhao says that in European, Asian and
Meeting of the minds needed as market adjusts to new normal
“With travel restrictions easing and uncertainty starting to decrease, we forecast that investors from APAC and North America will likely remain active in other regions, while the recovery of outflows from Europe and the Middle East will likely will Transactionscontinue.”acrossthe Asia-Pacific region in early 2021, including nearly $6 billion in debt facilities arranged by CBRE in Australia and New Zealand, demonstrate the ongoing enthusiasm of major offshore players in quality New Zealand assets, Zhao adds.
Following a run of dramatic rate hikes, a more restrained and predictable run of increases as we head into 2023 will also give the market some comfort, although there is more pain to come. The new cost of money is likely to put pressure on owners and businesses who may look to reduce their holdings and/or delay their planned expansion and other projects. However, property portfolio owners with well-capitalised balance sheets are well placed to weather the challenging economic conditions.
Albeit tempered somewhat by rising interest rates, New Zealand’s strong and stable economic and political environment makes us an attractive investment destination. While still considered high, Australia and New Zealand seem to show signs of inflation flattening and property is regarded as an effective inflation hedge.
following the pandemic, as the market fully embraces the new normal of agile working.Inthelarge format retail market, Costco is actively searching Canterbury for a suitable site for a large-scale store and is expected to commit to a land acquisition deal soon.
As we approach the end of 2022 we are beginning to see the property market settle into a new normal, following a period of turmoil and uncertainty. We now find ourselves in the unfamiliar territory of a high-inflationary environment and are adjusting to living with it. However, with some inflationary pressures easing off globally, there is reason for cautious optimism about the inflationary outlook in New Zealand.
“Overseas we are known as good spenders. Kiwis like to invest in their homes, themselves and their families and generally put money back into the local economy. This is noted by international
So what options are available? CBRE’s Debt & Structured Finance team is helping owners and investors to examine their capital structures and identify capital that is available from non-bank and offshore lenders, which may offer much more competitive options.
Richard Zhao, Director of Debt & Structured Finance at CBRE
Ashley Hopewell, Retail Leasing Specialist at CBRE Christchurch
Ashley Hopewell, CBRE Christchurch retail leasing broker, says ground floor retail space on the prime Cashel Street strip between the Grand Central Building and the Bridge of Remembrance is now difficult to come by.
The Christchurch central business district is high on the wish lists of national and international businesses and retailers looking to expand or secure a foothold in New Zealand’s secondbiggest city.
Low CBD office vacancy is presenting a challenge for tenants who are approaching the end of their current lease term and want to look at moving or expanding, says Mitchell Wallace, CBRE Christchurch office leasing broker.
The New Zealand market is becoming increasingly sophisticated and willing to adopt new and alternative capital sources. However many lenders, local and international, have indicated pricing margins are likely to increase as liquidity and credit premiums broaden. As debt advisors, our goal is to provide support for borrowers seeking alternative funding options. We are focused on providing a greater understanding of financial markets and capital flows, likely resulting in more confidence in the sector and helping clients grow.
“Vacancy in prime Cashel Street retail space is minimal, which is a very different picture from a few years ago. We’re in discussions with national and international tenants for the remaining spaces as well as for upcoming developments, with strong interest from many retailers in securing a foothold in Christchurch.”
American markets, a significant amount of property lending today involves non-bank sources, which is also creating demand for second finance options here in New Zealand.“Navigating the influx of offshore interest coming into our market raises the need to examine alternative sources of capital. Structured finance has been around for a long time, which is where CBRE’s knowledge, connections to offshore options and ability to help our clients are so valuable.”
“Australian retailers’ appetite for space here is significant – since the borders opened we have had a number of large Australian brands looking at coming into New Zealand or expanding into Christchurch following the establishment of stores in Auckland.”
“With a highly restricted supply of office space in the CBD, competition is strong for the limited space that is available for immediate occupancy. Often tenants are unaware of the state of the market and the challenges they face if they want to move or expand. We’re advising them to look at their options well in advance of lease expiries.”
CBRE surveyed Australian retailers in October 2021 about their expansion plans, with more than 60% stating they expected to increase store numbers, while also upgrading to better locations. Those intentions are now translating through to real enquiry for retail space in New Zealand, Hopewell says.
CBD office and retail space in high demand
Meanwhile, a healthy outlook for retail across New Zealand is translating into strong enquiry from tenants for space in Christchurch’s core CBD retail precinct.
New Zealand is on the radar of Australian retailers planning expansion of physical stores
The strong increase in tenant enquiry over the past year has been driven by a large tranche of lease expiries occurring within a short space of time, as many of the lease terms negotiated following the earthquakes are now up for renewal, Wallace
Alex Nikolaou, Director of Debt & Structured Finance at CBRE
Re-opened borders are
short term. The first of three planned new office buildings in the Christchurch CBD is still around 18 months away from completion and already has strong precommitment from tenants.
Kiwis’ reputation for spending their money in New Zealand is one factor which is encouraging international retail tenants, she says.
The office market is being further squeezed by a lack of new supply in the
retailers who now view Christchurch as an attractive destination for store network expansion alongside Auckland, Wellington, and Queenstown.”
“Unfortunatelysays. for tenants, this has driven demand to a level which has not been seen for some time. Rental growth and diminishing incentives are also prevalent in the current market, where supply is not adequately meeting demand.”
“The combination of these factors is creating a competitive market where both small and large tenants are missing out as space becomes very scarce,” says Wallace.
Freight links to and from Christchurch are also viewed as favourable by international retailers, with the Lyttelton port and Rolleston inland container terminals contributing to ease of freight movement.Hospitality groups looking at New Zealand expansion are also noting the increased certainty around the construction of the multi-use stadium and East Frame housing as positive factors for the future of the core CBD precinct, Hopewell adds.
Mitchell Wallace, Office Leasing Specialist at CBRE Christchurch
Shoppers are flocking back to Christchurch’s CBD – to the delight of retailers
CBRE has recently surveyed domestic and international lenders in New Zealand, with the findings pointing to considerable appetite particularly for stabilised industrial and office assets. However, major banks remain constrained by policy metrics. Various lending parameters are softer for non-bank lenders and offshore lenders seem further relaxed, generally having conducted more robust due diligence at the front end of a transaction.
encouraging well capitalised, yet cautious, investors to target New Zealand
Office occupiers are competing to secure the few remaining spaces, while enquiries from retailers have reached levels not seen since before the 20102011 Canterbury earthquakes.
A common theme among tenants either expanding or entering the market is that they see New Zealand as an extension to their Australian businesses, with New Zealanders being great spenders on fashion and home improvements, she adds.
A construction cost consultant plays a pivotal role in the financial aspect of any successful project, covering endto-end considerations including setting a budget, exploring the feasibility of a potential project, cost managing the design and documentation process and administering the contract during construction, right up to finalising the completed project cost.
“Propertysays. investors carrying low debt will be well placed for the future to take advantage of when the market adjusts. We would hope that this will flow through to rents continuing to increase so new builds will be feasible, and coupled with good demand and low vacancies we should start to see rental growth.”
investors, buyers are focusing strongly on the quality of the property, lease term and potential for rental growth.
Hamish Clarke, Director of Industrial & Logistics at CBRE Christchurch
While interest rate increases due to high inflation are creating uncertainty for
Minimal vacancy is likely to remain a feature of the industrial market for some time, says Clarke.
Cost management of project works
“By removing the stress over the multiple unknown risks and missed opportunities that can occur, engaging an expert advisor in the building, depreciation and cost consultancy field allows you to concentrate on your core business, knowing that your investment in property is as cost efficient as
“What we are seeing at the moment is warehousing and logistics occupiers feeling the squeeze in the local property market, as they seek to increase their
sharp eye on getting delivery to time and budget constraints.”
For those undertaking commercial construction or refurbishment projects, now more than ever is a critical time to take advantage of cost management measures and safeguard all-important cash flow, Green says.
Avoiding construction cost headaches
Should a loss event occur; such an assessment provides accuracy in principal and mitigates underinsurance risks. It also includes costs for areas such
Following a period of stable rents since early 2020, prime industrial net effective rents in the Christchurch industrial market increased to $116 a square metre in June 2022, representing an increase of 5% on the March 2022 quarter.
Strong appetite for industrial land among owner occupiers and developers has led to growth in sale prices for land along with a shortage of available supply, Clarke
“Thesays.strength of industrial property across the Canterbury region has resulted in land values increasing, with the scarcity of developable land emerging as a key factor underpinning the high growth outlook for the sector.”
Professional cost consultancies with the right experience managing commercial sector projects around New Zealand can help minimise programme times, mitigate risks and maximise potential returns in the long term, says Green.“Inpartnering with property owners and occupiers undertaking construction projects, we provide much-needed confidence – leading them through the project life cycle with a constant focus on minimising risk, engaging with the right people in the market, and with a
as demolition and removal of debris, reinstatement of the building, allowances for design & construction contingencies and professional fees.
yields for prime industrial property in Christchurch are around 5.5% as at June 2022, demonstrating a slight softening of yields since the second half of 2021 when indicative yields were closer to 5%.
Jamespossible.”Green,
Throughout the year construction industry and media hype around rising construction costs has been persistent, fueled by ongoing supply chain issues, delays, skills shortages and other industryAlthoughchallenges.construction activity may now be showing signs of slowing, the commercial sector has come from a very strong position over recent years, so healthy demand remains for new developments and refurbishments, with many properties being fitted out for repurposing.JamesGreen, Director of CBRE’s Building, Depreciation & Cost Consultancy business in Christchurch, says that even with the existing supply, market and resource pressures, many projects are still being completed satisfactorily.“It’sreassuring to see a significant number of projects still being delivered on budget, while balancing priorities such as quality, sustainability, and safety, and all to rigid programme deadlines for business needs.”
“Interest rate rises are prompting a flight to quality and are likely to increase investors’ yield expectations across the property market. However, in the warehousing and logistics property sector, the significant weight of capital seeking investments continues to keep yieldsCBRElow.”research shows indicative
presence in Christchurch or outgrow their existing premises. Capacity will be added through new builds, but these will take time to come on stream.”
Rising rents will be welcomed by developers looking to get new build projects off the ground, with construction cost increases having created significant uncertainty and pressure for rents to rise
The industrial property market in New Zealand continues to perform well, with the sector remaining a firm favourite among investors in the current climate of increasing uncertainty.
Reinstatement cost assessments
Mitigating risks through the entire project life cycle is a key area where it can be highly beneficial to engage an independent, professional cost consultancy team to oversee the project and help ensure time, quality and cost expectations are met.
The change allows deductions of 1.5% (straight line) or 2% (diminishing value) on non-residential building structures. This can translate into significant cash flow benefits, especially for owners of larger property assets. New deduction claims are also available for capital expenditure, including earthquake strengthening and fitouts.
Technical due diligence and condition assessments across diverse property portfolios are further areas where CBRE’s Building, Depreciation & Cost Consultancy division can add value.
Rents also look to be on the rise, according to CBRE’s latest research.
The industrial sector remains a firm favourite for investors
Hamish Clarke, CBRE Christchurch Industrial & Logistics director, says that around the country, strong demand for warehouse space has been driven by Covid-19 and growth in e-commerce activity.“Suppliers’ need to hold more stock closer to the customer has led to increased demand for warehousing, resulting in a shortage of available space in the main distribution hubs across New Zealand.”Thistrend is clearly apparent in the Christchurch industrial market, where vacancy remains very low (3% as at CBRE’s most recent survey in June 2022).
Another key opportunity which commercial property owners and occupiers should consider is engaging a professional consultant to prepare reinstatement cost assessments for insurance purposes.
Syndicators, fund managers and commercial property owners often want schedules produced for their newly purchased or built properties, taking advantage of depreciation allowances reintroduced as part of the government’s Covid-19 stimulus package in 2020.
to make development projects viable. However, there is the potential for new development to be constrained if developers are not well capitalised. Bank requirements mean funding will be an issue for those carrying high debt levels, Clarke
Depreciation opportunities
Maximising value and reducing ownership stresses
“Maximising returns through effective cost management is the key to achieving optimum project outcomes and long term value. It may sound obvious, but
Cost Consultant and Tax Depreciation Specialist at CBRE Christchurch
Depreciation is a further area where careful management and planning can result in significant cash flow advantages for property owners, whether or not they are planning a construction project.
there are many areas where property owners, developers and occupiers often miss the opportunity to create additional cost efficiencies.”
In an environment where property ownership and occupation is associated with seemingly ever-increasing costs, it’s crucial for both owners and occupiers to be in a position to fully realise the value of their real estate, concludes Green.
Squeeze continues in the warehousing and logistics sector
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) When matters,experiencetrustCBRE With the right strategy, you can get better value from your real estate and give your business the flexibility it needs to keep up with change in today’s world. The offering provides a strong weighting towards semi-detached large format retail anchors Countdown and The Warehouse, along with freestanding KFC and Taco Bell. A separate access to the shopping mall component comprises several essential services and specialty retailers. Notably, these components are set on individual freehold titles available for purchase separately or together. GLA: Expansive27,500sqm*landholding: 67,000sqm* 67% estimated net passing rental from listed entitiesThe Warehouse Group, Woolworths and Restaurant Brands Tim Rookes 027 562 3700 Cameron Darby 027 450 7902 www.cbre.co.nz/CCH100123 For Sale by International Expressions of Interest closing Wednesday 12 October 2022 at 4:30pm NZST (unless sold prior) Subdivided Retail Offering with Anchor Tenants on Separate Freehold Titles Boundary line indicative only EastgateCHRISTCHURCHShoppingCentre For Sale
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) Need confidential and strategic advice? Contact our CBRE office leasing specialists for expert, local market advice during times of uncertainty. www.cbre.co.nz/CCH100125 For Lease68CHRISTCHURCHStAsaphStreet,Christchurch Central * Approx. Commandingly positioned on a key corner of the CBD’s South Frame, 68 St Asaph Street sets the southern border of the city’s Health Precinct. The Health Precinct is a campus style environment located in the south-west corner of the central city. This precinct has become a collaboration of private and public sectors as key health infrastructure such as Christchurch Public and Christchurch Women’s Hospital, Acute Services and Outpatients. Importance Level 3 building Large single floor plate with options to split Floor areas ranging from 915sqm* to 1,920sqm* 58 secure car parks on-site Clearspan office Versatility and Scale with Proximity to Te Papa Hauora Contact CBRE for more information or to arrange an inspection Mitchell Wallace 027 664 4773 Adam Wallis 027 695 9989
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) For Lease www.cbre.co.nz/CCH100128* Approx. Mitchell Wallace 027 664 4773 Adam Wallis 027 695 9989 Please contact CBRE to register your interest CBRE, on behalf of Carter Group, is pleased to present this striking Wilson & Hill designed office development for lease. The four-level building will sit proudly on the former Holiday Inn site, at the corner of Cashel and High Streets, and be the ‘Pinnacle’ of the Retail Precinct, providing a dramatic finish to Cashel Street and along with the Te Kaha Multi-Use Arena, further revitalising the CBD’s East Frame. 1,200sqm* floor plates Basement car parks Energy efficient design Naming rights available Q3 2024 expected completion Dominant Cashel Street Presence Sole Agency 170 Cashel Street, Christchurch Central CHRISTCHURCH
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) We consider every perspective CHRISTCHURCH For Lease 12 Oxford Terrace, Christchurch Central www.cbre.co.nz/CCH100076 Sitting on the south bank of the Avon River at the edge of the Health Precinct and West End and within 500m* of Riverside Market, this +MAP Architects designed office building enjoys a leafy outlook along Oxford Terrace, a vista highly sought after. Each tenancy features a high quality base build, ensuring only tenant specific fit-out is required. Nine secure on site car parks are supplemented by additional parking within a few minutes walk, while 43 secure cycle parks are also provided. Ground floor: 28sqm* Levels 1 to 3: 346sqm* per floor Level 4: 283sqm* internal floor area, 59sqm* terrace Level 5: 283sqm* internal floor area, 19sqm* balcony Statement Building with River Views Mitchell Wallace 027 664 4773 Adam Wallis 027 695 9989 Contact CBRE for more information or to arrange an inspection CHRISTCHURCH For Lease 10 Show Place, Addington www.cbre.co.nz/CCH100116 Two tenancies remaining in this stunning, post-earthquake building on Show Place, a campus style business park. Join the company of national and international businesses such as IAG, Izone, Westpac and Ngāi Tahu among others. The standalone office complex boasts excellent natural light from all sides and ample on-site and nearby parking options. Naming and signage rights are available along with quality existing fit-outs. Two options available: 790sqm* (level 2) & 461sqm* (level 4) 30 on-site car parks with additional parking nearby Post-earthquake building Quality existing fit-out to minimise additional expenditure Quality & Flexibility on Addington Campus Adam Wallis 027 695 9989 Mitchell Wallace 027 664 4773 Contact CBRE for more information or to arrange an inspection * Approx. * Approx.
CBRE (Agency) Limited, Licensed Real Estate Agent (REAAAnd2008)provide flexible property solutions to help your business thrive. Partner with us to get the best from your commercial property. CHRISTCHURCH For Lease 455 Blenheim Road, Middleton www.cbre.co.nz/CCH100120 We have multiple showroom options available at this highly sought-after and iconic corner of Blenheim and Curletts Roads. With almost 70m of display windows and existing rooftop signage you’re sure to be seen by the over 14,000* vehicles driving past each day. Readily accessed off Blenheim Road via lay-by and with over 90 car parks – your customers will be at ease even at the busiest times. This is a rare opportunity to secure your new flagship location or simply to reposition your business with excellent profile. If you’re looking the next move, this site is a must-see! 90+ on site car parks Tenancy options – 1,119sqm*, 1,615sqm* or 2,814sqm* Lay-by access off Blenheim Road Great signage and shopfront exposure Take the Whole, or a Half. Iconic Showroom Available Ashley Hopewell 022 317 4254 Available now. Contact CBRE for more information CHRISTCHURCH For Lease 6 Show Place, Addington 680sqm* on level 2 available now 15 on-site car parks available plus 44 additional parks within a two minutes’ walk High quality existing fit-outs minimise additional fit-out requirements Glazing on all sides ensures abundant natural light throughout Stunning views Quality Suburban Office in a High Profile Location Adam Wallis 027 695 9989 Mitchell Wallace 027 664 4773 Contact CBRE for more information or to arrange an inspection www.cbre.co.nz/CCH100115* Approx. Contact CBRE for more information or to arrange an inspection * Approx. * Approx.Floor areas ranging from 134sqm to 210sqm* Three car parks per 100sqm* Commercial Core zoning Extensively refurbished and strengthened in 2020 Profile and Location with Excellent Parking Mitchell Wallace 027 664 4773 Adam Wallis 027 695 9989 www.cbre.co.nz/CCH100112 For Lease62CHRISTCHURCHRiccartonRoad, Riccarton
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) Looking for innovative industrial solutions? CHRISTCHURCH For Lease 8 Iversen Terrace, Waltham www.cbre.co.nz/CCH100069 Strategically positioned at the south-eastern end of the city fringe, this clear span warehouse facility offers easy access to the CBD, Fitzgerald Avenue and Waltham Road toward the Christchurch Southern Motorway. Recent refurbishments to the office building include new floor coverings, new heat pumps, updated bathrooms, new kitchen joinery and paint throughout. This property will suit multiple uses and is sprinklered to provide added protection. 1,357sqm* warehouse access through two container height 160sqm*doors office with meeting room, café, and amenities Generous car park and yard area with dual access Easy access to main arterial routes Available now City Fringe Sprinklered Warehouse Nathan O’Neill 021 288 2707 Contact CBRE for more information or to arrange an inspection CHRISTCHURCH For Lease 9 & 11 Bernard Street, Addington www.cbre.co.nz/CCH100130 This high stud designer warehouse, office and showroom is a blank canvas – ready for you to create your dream workspace. Located off Lincoln Road, in the popular area of Addington, the properties are surrounded by popular hospitality operators and an abundance of office workers. The motivated landlord is prepared to do substantial works on the property. – 9 Bernard Street: 774sqm* designer office – 11 Bernard Street: 800sqm* showroom/retail and 270sqm* of warehouse – 10+ car parks – Neighbouring residential developments – Floor areas can be split to suit specific requirements – Ability to house over 300sqm* of solar panelling Sun-drenched with Ample Opportunity Brigit Hamilton 021 353 341 Ashley Hopewell 022 317 4254 Contact CBRE for more information or to arrange an inspection * Approx. * Approx. Boundary line indicative only
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) Stay informed with local market-leading advice from our team of experts so we can keep your business moving. CHRISTCHURCH For Lease 19 Hannover Place, Rolleston Generous 5,416sqm* 8 metre high-stud warehouse facility with multiple roller door access 101sqm* dispatch office with staff café and amenities 578sqm* under cover load out via canopy Drive-around vehicle access, fully concreted yard, and 45 car parks Located in the fast growing Izone Industrial Hub, Rolleston, 15 minutes south of Christchurch Certified for Dairy & Other Food Products Scott Bentley 027 203 3310 Hamish Clarke 021 960 655 Contact the agents for more information or to arrange an inspection. www.cbre.co.nz/CCH100139 CHRISTCHURCH For Lease 11 Cass Street, Sydenham Boundary line indicative only 2,649sqm* warehouse accessed via a 5m high roller door The property is supported by three internal prefabs including an office, lunch room and amenity Suited to a range of uses such as bulk storage, automotive, processing or manufacturing Located 200m from Moorhouse Avenue with easy access onto the Southern Motorway Available now Large Centrally Located Warehouse Nathan O’Neill 021 288 2707 Contact the Sole Agent for more information. www.cbre.co.nz/ CCH100106* Approx CBRE is proud to present a prime investment property at 149 Hoskyns Road. This is a unique opportunity to secure a new substantial industrial facility well-positioned in the fast growing area of Rolleston. 10-year lease term High performing quality tenant PharmaZen Limited Fixed annual rent reviews Net rental: $682,200pa plus GST Brand new warehouse and manufacturing facility Large land area Drive around site with two road access points Export-led business Quality 10InvestmentIndustrialwithNewYearLease For Sale by Deadline Private Treaty closing Thursday 20 October 2022 at 4:00pm* www.cbre.co.nz/CCH100129 Paul Brown 021 386 069 Nathan O’Neill 021 288 2707 For Sale149CHRISTCHURCHHoskynsRoad, Rolleston * Unless sold prior. * Approx
Looking for commercial property advice? Tom Stafford Director 021 820 998 Nathan O’Neill Associate Director 021 288 2707 Paul Brown Associate Director 021 386 069 Scott Bentley Associate Director 027 203 3310 Ashley Hopewell Senior Negotiator 022 317 4254 Jorge Chang Urrea Research Manager 021 619 856 Cameron Darby Senior Negotiator 027 450 7902 Tim Rookes Managing Director 027 562 3700 Bonnie Stone Director 021 843 690 Caiti Morgan Director 022 370 5144 Carl Graham Director 027 248 5412 Hamish Clarke Director 021 960 655 James Green Director 021 931 434 CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) The information in this document is general in nature and is a guide only. It does not take into account your individual circumstances. Before acting you should check the accuracy of the information and seek your own independent financial and legal advice. The information must not be relied upon to make any investment decisions. The principal and its agent will not be liable for your failure to verify the information or seek appropriate advice. Adam Wallis Senior Negotiator 027 695 9989 Mitchell Wallace Senior Negotiator 027 664 4773 Brigit Hamilton Negotiator 021 353 341 Matt Stanley Valuer 027 857 2625 Anna Kennedy Valuer 027 237 4175 For responsive real estate solutions that help your business thrive, get in touch with one of our property professionals today.
