Christchurch Spring Campaign 2020

C H R I S TC H U R C H S P R I N G P O RT F O L I O Why the Christchurch commercial property market is so resilient

Industrial property demand grows in response to Covid-19

The benefits of being an owner-occupier in a low interest rate environment

The latest retail, office and industrial sales and leasing opportunities

Market impresses with resilience

Vodafone Innov8 received close to $500 million in bids from interested parties earlier this year

Six months after the national lockdown, investors are done with waiting and are moving forward with purchases and approving fit-out projects that have been in a state of flux since the onset of Covid-19.

Christchurch managing director for CBRE Tim Rookes says the mood has gone from one of concern to that of getting on with things, as local investors brush off the uncertainty around Covid-19 amid attractive lending rates.

Prior to the lockdown in MarchApril, the Christchurch market was hitting a vigorous stride with CBRE receiving almost $500 million in bids for the Vodafone headquarters at 213 Tuam St. This contributed to a record sale price for the city of $59 million.

Significantly, it was a syndicate that bought the building, and 90 per cent of bidders were domestic.

Then Covid-19 entered the community and all bets were off, Rookes says.

Fast-forward a few months, however, and the market is gaining momentum. In September, the Manawa building in Christchurch’s health precinct set yet another record when it sold for about $80 million to an Auckland-based buyer.

This is further evidence of property’s appeal as an asset class, albeit with a greater focus on tenant covenant as buyers and banks become more risk averse, Rookes says. “Essential service” has now entered the lexicon as a sought-after tenant classification, with government

departments particularly prized as tenants.

The market was also helped through its rough patch by proactive landlords willing to work with tenants. The impact of lowered interest rates was another key factor.

Rookes says the potential of negative interest rates will further enhance the attractiveness of property investment.

“Often you’ll see a decision-making hiatus heading into an election but we’re not seeing it this time,” he says.

“People are pushing ‘go’ on investment decisions they’ve had on hold since Covid; there’s an acknowledgement you can’t ‘wait and see’ indefinitely.”

Pent up energy Rookes says a move to bricks and mortar is a preferred diversification strategy for many people in uncertain times, including relatively small-scale investors.

In a recent sale campaign, CBRE received inquiries in excess of $360 million. “This was from first-time investors or those looking to diversify into property on a sub-$5 million asset. It highlights that there is no lack of money in the system,” Rookes says.

This had also been the case pre-Covid, he adds, when yield compression in Auckland

An active campaign resulted in the sale of Terrace Downs Golf Resort

– where comparatively low yields under 5 per cent are common – and already low interest rates had helped unleash an unprecedented wave of investment activity in Christchurch between the time of the Vodafone building sale and lockdown.

CBRE’s campaign attracted 212 qualified parties, of which 69 engaged in auction due diligence, with 13 bidders on the day. “It is evidence of the unexpected energy in this market,” Rookes says.

Now that interest rates are even lower, returns on bank deposits are even lower, too, which is giving wind to the diversification strategy as investors seek to put their money to work.

Industrial property remains the most in-demand sector and is the bedrock of the Christchurch market.

“The banks are driving activity through low interest rates while also dampening it somewhat through margin creep. This may or may not counter the flight to investment property from anticipated negative interest rates,” Rookes says.

Yields in Auckland remain low compared to Christchurch and this presents “excellent value” for investors looking south, Rookes says. It should also encourage Christchurch owners to consider selling, with added appeal for buyers coming from the high quality of the city’s new building stock and their market-leading seismic capability, he says.

Opportunities

Over the past five years, CBRE has observed a proliferation of owner-occupiers in the industrial sector. Rookes says now that property yields are at cyclical lows, some of those owners are seeking to capitalise on their property value gains to redirect capital into core business through sale and leasebacks.

Investor demand will be further fuelled by the anticipated strong return of syndicators, he says.

“That’s driven in part by ‘mum and dad investors’ wanting above-bank returns on their capital, but it comes with the perennial challenge of a lack of industrial sale stock to meet demand.”

The seven-storey Manawa building offered this with its IL3 construction rating, before its near government-quality tenant covenant helped seal the record-breaking sale.

Rookes says an early fear of evaporating demand for commercial property came from concern that Covid-19 would encourage a permanent shift to working from home and condensed office requirements.

Rookes says further evidence of the region’s active investment market can be seen in CBRE’s recent sale of the Terrace Downs Golf Resort. The property, near Mt Hutt, was a distressed sale after the death of its Japanese owner from Covid-19.

However, CBRE does not expect Christchurch to be impacted this way, given the physical safety of low-rise office stock, the lack of any significant challenge for commuters, and an element of “been there, done that” when it comes to working from

Tim Rookes, managing director of CBRE Christchurch

home, due to the earthquake displacement experience.

Now that spring has fully arrived, the vibrancy of the market is almost palpable, Rookes says.

With inner-city streets filling up and an air of positivity about, it is hoped the increased hustle and bustle will lead to ringing tills for the retail and hospitality sectors, he says.

“Ultimately, a lot will still depend on when the border opens. Covid is with us, but overall it’s clear that commercial and industrial property in Christchurch is extremely resilient.”

CBRE is a Fortune 500 company headquartered in Los Angeles with more than 100,000 staff across about 530 offices worldwide. It is the world’s largest commercial real estate services and investment firm.

To find out more, visit www.cbre.co.nz

Considered decision-making shapes the road ahead The stronger than expected performance of commercial property following the national lockdown for Covid-19 has been most positive for “Prime” assets with strong tenant covenant, according to CBRE. The company’s director of commercial valuation in Christchurch, Carl Graham, says the softening of yields expected for all property asset classes failed to materialise across the board, with Christchurch yields in particular having continued largely in the same vein as before Covid-19.

“That’s not to say property owners have had it easy,” Graham says. “Landlords have needed to front-foot rental abatements and at the same time satisfy their banks. That’s not an easy proposition for many landlords and property managers.”

Graham says the three main asset classes – office, retail and industrial – performed in different ways despite the shared backdrop of wage subsidies and lowered interest rates.

A notable feature of the market is the high number of owneroccupier transactions, he says.

In many cases, reduced interest rates have made mortgage repayments less than rents, which is prompting some business owners to purchase property.

But while borrowing money may be cheaper than ever, Graham says there are some impediments to accessing debt from the traditional banks.

“The RBNZ’s increased regulatory pressure on banks’ capital requirements, among other things, is making it more difficult for investors to obtain debt. This obstacle seems to be less apparent for owneroccupiers.”

Industrial The Christchurch industrial market has maintained its position as a steady “no frills” performer and assets valued below $3 million have been transacting well at yields 6 per cent and below, Graham says.

The sale of the Manawa building confirmed the attractiveness of Christchurch as an investment destination

in some cases higher. That compares with CBD office yields of mid-5 per cent to mid-6 per cent.

Industrial rents had plateaued for 3-4 years before the lockdown, and although vacancy rates were falling and rental growth had been anticipated, CBRE now predicts future growth will be deferred due to Covid-19 and the subsequent recession.

Putting rental abatements aside, the leasing market is transacting mostly at pre-Covid levels, Graham says, and on occasion at discounted levels as some landlords seek to fill vacancies at any cost given the uncertain times ahead.

Office Christchurch’s office market surprised many pundits this year and the significant sales of the Vodafone and Manawa buildings have confirmed the pre- and post-Covid attractiveness of Christchurch as an investment location, Graham says.

The quality of post-rebuild office stock – constructed to 100

“To less risk-averse and savvy investors, the suburban office market can deliver excellent returns, but it does carry an elevated risk,” he says.

Carl Graham, CBRE Christchurch

per cent of the new building standard (NBS) – combined with falling office vacancies in the CBD have given comfort to investors.

The suburban office market, on the other hand, is a totally different proposition, Graham says.

“Suburban offices command a higher yield due to perceived risk. As always, quality buildings will provide the greatest potential for rental growth in the short-to-medium term.

“Yields for suburban office space are 7-9 per cent and

Office vacancies in the CBD are continuing to decline and are expected to drop below 10 per cent this year. Meanwhile, suburban office vacancies are over 15 per cent and likely to increase further in the second half of 2020 in line with the move to quality.

Retail Graham says the retail market has seen fewer transactions but, depending on the mix of tenants, has performed “reasonably well” under the circumstances.

Properties reliant on hospitality and tourism have obviously been hit harder, he says, and as vacancies filter through this will impact on rental growth.

The old adage “location, location, location” is particularly relevant.

However, Graham says across all asset classes the picture is clearer for Prime properties than Secondary, which have seen fewer transactions. Secondary properties are expected to be hit harder by Covid-19 and the recession, he says.

“There’s a flight to quality by investors that’s creating a wider spread in yields between Prime and Secondary stock.

“That’s being driven by the advantages Prime stock has in terms of building quality, tenant covenant and location.”

Compared to commercial property in Auckland and Wellington, Christchurch still reflects great value, Graham says, with yield premiums still evident for similar assets.

Depreciation changes bring opportunity opportunity for owners to increase cash flow.

Tax deductions for building depreciation were removed in the 2011-2012 tax year and reinstated from the start of the current tax year, in April, at a rate of 2 per cent per annum (diminishing value method).

Phil Overend, CBRE Christchurch

The move to reinstate depreciation deduction claims for commercial and industrial buildings as part of this year’s Covid-19 stimulus efforts has provided a substantial

New deduction claims are also available for capital expenditure, including earthquake strengthening.

CBRE’s Christchurch director of its Building Depreciation and Cost Consultancy team, Philip Overend, says since the change there has been a notable

increase in demand from landlords and owner-occupiers wanting a depreciation schedule for recently acquired or built properties.

Previously, depreciation deductions could only be claimed on the building fit-out, typically at a rate of 10-12 per cent, depending on the nature of the fit-out. However, the larger cost of the building itself means that including depreciation there could provide owners with significant gains in tax efficiency.

“Syndicators, managers of PIE (portfolio investment entity) funds and direct owners should

all be taking advantage of the depreciation allowances, to boost cash flow.

“The property industry should also take note that from April 2021, vendors and purchasers will be required to adopt the same assessment/valuation for depreciation purposes,” Overend says.

CBRE has a specialist team of quantity surveyors and valuers to prepare detailed depreciation assessments for all types of commercial property. This includes balancing adjustments and recovery assessments for vendors.

The company’s Building Depreciation and Cost Consultancy division can provide these services in conjunction with technical due diligence assessments, capital expenditure forecasting, insurance valuations and makegood assessments, all from a single point of contact.

Contact Phil Overend to find out more: 022 642 7930 phil.overend@cbre.co.nz

Benefits accrue for owner-occupiers “That benefits your bottom line immediately,” she says.

Also supporting the move to becoming an owner-occupier is lower-than-normal demand from tenants in some sectors, which is leading landlords to consider offers they previously would not, Stone says.

Bonnie Stone, CBRE Christchurch

Just as there are advantages to owning your home, purchasing the commercial building occupied by your business also has benefits, which are becoming more apparent in the low interest rate environment.

Additionally, banks are sometimes more willing to lend to owner-occupiers than for a straight investment property.

Bonnie Stone, a director at CBRE Christchurch, says opting to rent was traditionally a cost-neutral move because the payments were roughly in line with interest payments.

Make the switch from renter to owner at 17 Allen Street

Save money and become your own landlord at 16 Southwark Street

You could achieve long- and short-term capital value increases by buying a vacant building, putting your business in it and waiting for the market to rise, but the difference in outgoings in the meantime was not substantial.

She adds that now is also the bottom of the market for office space. “Office rents have fallen from their rebuild peak by 15 per cent for Prime CBD offices, and by 33 per cent for Suburban, so you’re entering the market at the bottom of the cycle.”

On top of this, changes to depreciation rules are providing better cash flow in the short term.

The non-financial benefits to owner-occupiers can be significant, too, including greater control of occupancy by being able to expand or contract on your own terms; more control of the tenant mix, car parking and signage; and enhanced branding opportunities.

Stone notes, however, that deposits required for commercial property are typically higher than for residential, and the scale may be significantly larger.

However, with today’s historically low interest rates, that equation has been turned on its head, Stone says.

She cites 17 Allen St, in Christchurch’s CBD, as an example of how worthwhile it has become to make the switch from renter to owner.

“In many cases, interest payments are about half that of rental payments.

The property has an assessed market rent of $198,852 per annum and a valuation of $3 million, based on a 6.63 per cent yield. With a 100 per cent

interest loan at a current rate of 3.5 per cent, the owner would be paying $105,000 in interest each year. That’s a little over half of the annual rent.

Looking at a similar property with similar rental in 2009 provides a very different picture.

The rent due would be about the same as now but the property would have a valuation of about $2.2 million, based on a 9 per cent average yield for a reasonable-quality vacant building in 2009.

At that time, commercial vacancy was high and a 100 per cent interest loan would have had an interest rate of about 8 per cent, requiring interest payments of about $177,000 per year.

“All things being equal, this gives today’s owner-occupier a 52 per cent ($93,000 per annum) saving in property expenses compared to leasing, and $72,000 improved cash flow for the year – that’s a 40 per cent saving compared to in the GFC (global financial crisis) when occupancy and rental costs were similar,” Stone says.

Owner-occupiers with a strong balance sheet also stand a better chance of securing bank lending, she says.

CBRE currently has several properties suitable for owneroccupiers in a variety of businesses.

Contact Bonnie Stone to find out more: 021 843 690 bonnie.stone@cbre.co.nz

Surging need for retail safety stock pushing industrial property demand Demand for industrial property across New Zealand is surging as retailers hold stock in the wake of recent disruption to the sector, according to the Head of CBRE’s Supply Chain Advisory across the Pacific region.

Speaking at CBRE’s Talking Sheds webinar, Christine Miller said that rather than pushing large volumes of inventory through sales clearance channels, retailers were looking to increase their levels of ‘safety stock’, which in turn requires more operational industrial and logistics space, plus new distribution models.

Miller says: “We’re seeing businesses indicate that they are going to hold product for up to a year in order to avoid pushing it into the clearance channels.

Previously, we have seen the

inventory costs at around 20 per cent of supply chain costs, but as we see safety stock and inventory levels start to rise, the percentage will increase as businesses look at their products to determine which can be stored to enter the market at more of a full-scale retail price.

“This will have an impact on their balance sheets in terms of the inventory costs that they cover, but will also lead to them being more flexible and more resilient in the face of disruption. They are looking at the products that are fastermoving and slower-moving, and adjusting their distribution networks accordingly.”

This effect is likely to be stronger in New Zealand than in some other countries, Miller says.

“New Zealand took a stronger

approach to other countries by shutting distribution channels to non-essential businesses during lockdown, which in turn created more backlog for retailers in the discretionary spend category.

“We now expect to see storage and distribution requirements increase, and we do expect to see retailers really look to refresh their online fulfilment models and their omnichannel distribution. Holding more inventory, being more responsive to the final customer demands means being closer to those points of consumption.

This points to businesses spending more time looking to how critical a role industrial and logistics infrastructure can play in a business having some flexibility and sustainability in the face of disruption.”

Following the lockdown earlier this year, CBRE expects to see storage and distribution requirements increase

This is echoed by the preliminary results of the latest CBRE industrial occupier survey, which reveals that connectivity and proximity to transportation networks are high on occupiers’ agenda, regardless of the sector

they operate in. Proximity to motorways and ports/inland ports rated the highest by logistics firms, manufacturers as well as retail and wholesale businesses.

We know exactly how to guide real estate occupiers and investors in today’s fast-paced, volatile climate.

Contact one of our experts for a confidential discussion about your commercial property.

FOR SALE COMING SOON LANDMARK HEADING GOES CBD HERE OFFICE ASSET 951 THIS VICTORIA 105-123 STREET, SUBURB, STREET CITY

COMING TO MARKET SOON

TROPHY ASSET

BLUE CHIP TENANTS

DEVELOPMENT LAND

CIRCA $3M RENTAL

REGISTER YOUR INTEREST TODAY TIM ROOKES 027 562 3700

BONNIE STONE 021 843 690

CAMERON DARBY 027 450 7902

www.cbre.co.nz

FOR SALE BRACKENFIELDS SHOPPING CENTRE NORTH CANTERBURY

SUPERMARKET ANCHORED SHOPPING CENTRE A rare opportunity to acquire a supermarket tenanted investment in a strong regional centre designed to capture high traffic volumes along State Highway 1.

Brackenfields Shopping Centre is anchored by supermarket giant, Countdown, providing outstanding security of cashflow with a term of 8.6 years remaining.

The centre comprises 5,790sqm of lettable area on a large 27,021sqm site which fronts State Highway 1 (Carters Road) with additional dual access off Amberley Beach Road. The overall car parking provisions are excellent and well above the market average for shopping centres, having space for 383 vehicles.

Built in 2014, the centre has a seismic rating of 100% NBS. Key features include: + Anchored by long term supermarket lease + Blue chip Countdown tenant covenant + High quality post-EQ build + Near exclusive growth catchment + High profile - State Highway 1 + Further development opportunity + Fully leased NOI: $1,335,502pa (estimated)

DEADLINE PRIVATE TREATY Thursday 5 November 2020 at 4.00pm (unless sold prior)

CONTACT US TIM ROOKES 027 562 3700

CAMERON DARBY 027 450 7902

www.cbre.co.nz/29092020

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

WHEN EXPERIENCE MATTERS, TRUST CBRE FOR SALE/LEASE

SAVE MONEY BE YOUR OWN LANDLORD

TWO BUILDINGS, FLEXIBLE OPTIONS 16 SOUTHWARK STREET AND 17 ALLEN STREET, CHRISTCHURCH CENTRAL

Two buildings, similar design but flexible options. Whether you are looking to purchase or to lease, these two-level post-earthquake buildings offer flexible options for occupiers.

The buildings are centrally located and beside the Innovation Precinct that is full of amenities such as the Welder and Little High.

16 Southwark Street has 150-300sqm available for lease on the ground floor and the first floor is leased.

17 Allen Street offers a total of 600sqm (approx.) for lease over two floors, up to four separate tenancies which is perfect for changing business needs. Occupy one, rent one.

With interest rates at record lows there has never been a more affordable time to be your own landlord. Do the maths! It’s quite possible your mortgage will be less than what you would pay in rent. + Post-earthquake build to 100% NBS + 150-600sqm (per building) + Excellent parking + Flexible ownership options + Competitive leasing deals available Boundary line indicative only

PRICE BY NEGOTIATION Contact CBRE for more information or to arrange an inspection

CONTACT US BONNIE STONE 021 843 690

www.cbre.co.nz/08102020

FOR SALE

FOR SALE

FREEHOLD INDUSTRIAL BUSINESS PARK LOTS 34 OWAKA ROAD, HORNBY

SECURE YOUR DEVELOPMENT PIPELINE 268 BOWER AVENUE, NORTH NEW BRIGHTON

Lot 9 SOLD Lot 8 SOLD

Lot 10 1,330sqm Lot 11 1,282sqm

Lot 7 2,496sqm Lot 6 2,359sqm

Lot 12 1,280sqm

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Lot 14 1,276sqm

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Lot 13 1,278sqm

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Lot 15 UNDER OFFER

Boundary line indicative only

Boundary line indicative only

ONLY SEVEN LOTS REMAIN AWATEA BUSINESS PARK This brand new industrial park on Owaka Road has evolved from the combination of a developer’s vision and pent up demand for quality land on the western side of the city. On offer is eight Industrial Business Park zoned lots for sale on freehold titles, ranging from 1,130sqm to through to 2,833sqm.

RESIDENTIAL DEVELOPMENT OPPORTUNITY + Dual access drive through sites still available + Flexible business zone + Range of section size options + Close to Wigram Skies + Excellent roading access, close to Southern Motorway

An exciting opportunity to secure a strategically located development site of a regular shape.

Surrounded by public amenity including high schools, sports and leisure, parks and recreational facilities.

The astute buyer will see the opportunity presented. Call the sole agents today for an Information Memorandum.

PRICED FROM $495,000 + GST (IF ANY) Contact CBRE for more information

DEADLINE PRIVATE TREATY Closing Friday 6 November 2020 at 4.00pm

NATHAN O’NEILL 021 288 2707

MERV DAVIES 021 435 899

www.cbre.co.nz/24072020

PAUL BROWN 021 386 069

+ 2.2662ha Residential Suburb zoning + Regular shaped site, allows for flexibility + Excellent roading access + Surrounded by community infrastructure and schools + Vendor says surplus to requirements

NATHAN O’NEILL 021 288 2707

www.cbre.co.nz/09102020

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

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.

FOR LEASE

IN A LEAGUE OF ITS OWN

AN OUTLOOK FOR THE FUTURE 272 ANTIGUA STREET, CHRISTCHURCH CENTRAL

Manawa, the flagship development of the of the Health Precinct, is a prime office building with only one floor available for lease and it is the most prestigious of them all.

The building was completed in 2018 to 100% NBS with an Importance Level 3 (IL3) rating on the high-profile corner of Tuam and Antigua Streets. The building is highly specified and enjoys excellent natural light and fantastic views of the CBD, Port Hills and Southern Alps. Manawa is nestled amongst market-leading healthcare, education, research and innovation professionals as well as other premium office developments.

Level 6 is a 1,466sqm floorplate with the lift columns, bathroom facilities and stair well centrally located offering the floor flexibility to be split in half. The floor provides uninterrupted views of Christchurch and has a spacious north-facing balcony, perfect for a summer evening BBQ. The floor has new carpet tiles throughout with HVAC and ceiling yet to be installed. + 1,466sqm (can be split) + Stunning views + North-facing balcony + OPEX approx. $54/sqm + Signage opportunities + Importance level 3 (IL3) + Nearby parking options

AVAILABLE NOW Contact CBRE for more information or to arrange an inspection

CONTACT US ADAM WALLIS 027 695 9989

TIM ROOKES 027 562 3700

www.cbre.co.nz/272210219

FOR SALE/LEASE

FOR LEASE

A RARE OPPORTUNITY 173 MONTREAL STREET, CHRISTCHURCH CENTRAL

HIGH QUALITY OFFICE 134 VICTORIA STREET, CHRISTCHURCH CENTRAL

CENTRAL MEDICAL SOLUTION A quality two-level building with an excellent medical fitout is available to buy or lease.

Centrally located on Montreal Street, the building provides great profile with signage opportunities and good on-site parking. The existing ground floor fitout includes six clinical rooms, a large staff medical hub and a reception/waiting area. Level one consists of a staff room and office space.

IMPRESSIVE AND MODERN OFFICE SPACE + Medical: 228sqm (ground floor) + Office: 53sqm (level 1) + Six on-site car parks + Quality medical fitout + Strengthened to 100% NBS + High profile signage + Well-maintained building

Modern, air-conditioned first floor office on Victoria Street. Mainly open plan it also features two glass partitioned meeting rooms, a separate kitchen and lunch room. The space benefits from its north facing position letting excellent natural light in. There is excellent amenity in the immediate area including hospitality and retail.

+ 287sqm office space + Two meeting rooms + Kitchen and lunch room + Plenty of natural light + Five on-site car parks + 150% NBS

AVAILABLE FEBRUARY 2021 Contact CBRE for more information or to arrange an inspection

AVAILABLE NOW Contact CBRE for more information or to arrange an inspection

ADAM WALLIS 027 695 9989

ADAM WALLIS 027 695 9989

www.cbre.co.nz/07102020

www.cbre.co.nz/18062020

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

NEED CONFIDENTIAL AND STRATEGIC ADVICE? FOR LEASE

STANDALONE CORNER OFFICE WITH PROFILE

HIGH QUALITY SUBURBAN OFFICE 46 BIRMINGHAM DRIVE, MIDDLETON

A prominent, standalone office building located on the corner of Birmingham Drive and Craft Place provides good quality office space with excellent profile and an abundance of on-site parking.

This predominantly single level building is currently configured to provide two open plan office areas, as well as multiple individual offices/meeting rooms and a boardroom directly off the main reception. There is also a supplementary warehouse area at the end of the site, as well as a secure parking/yard area.

The property provides a high level of staff amenities including spacious café/staff room, outdoor covered patio area, showers and bike storage.

The property has excellent access to the southern motorway and Blenheim Road, providing for ease of travel to the CBD and other suburban locations. + Building area: 960sqm + 35 on-site car parks + 80% NBS + Outgoings approx. $32/sqm + High profile corner position + Prominent signage opportunities + Strategic/functional fitout + Easy access to main arterials AVAILABLE NOW Contact CBRE for more information or to arrange an inspection

CONTACT US ADAM WALLIS 027 695 9989

www.cbre.co.nz/46061819

FOR LEASE

FOR LEASE

VALUE AND QUALITY 112 CASHEL STREET, CHRISTCHURCH CENTRAL

LARGE AFFORDABLE OPTION 17 BARRY HOGAN PLACE, ADDINGTON

FITTED OUT WITH AMPLE PARKING Opportunity to lease a 337sqm first floor office with good natural light and fitout in place for an affordable rent. + Affordable rental + Option to purchase + 13 on-site car parks + Immediate availability AVAILABLE NOW Contact CBRE for more information ADAM WALLIS 027 695 9989

PAUL BROWN 021 386 069

www.cbre.co.nz/29072020

FOR SALE/LEASE

AS CENTRAL AS IT GETS Located in the heart of the CBD, this modern office building offers those smaller tenants their own presence and profile. Each tenancy is filled with natural light offering a great outlook onto busy Cashel Street and Plymouth Lane. The motivated landlord is offering a number of incentives options as well as turn key fitouts. The building offers prominent signage and naming right opportunities.

HIGH PROFILE CORNER RETAIL 266 FERRY ROAD, WALTHAM

Located on the corner of Ferry Road and Grafton Street, this 161sqm building is available for sale or lease.

+ 236sqm - 729sqm tenancies + Naming and signage rights + Turn-key fitout options

+ Rear access

+ Nearby parking

+ 503sqm of land area

+ Modern flare

+ Seven car parks

+ Motivated landlord

+ Freehold title AVAILABLE NOW Contact CBRE for more information

AVAILABLE NOW Contact CBRE for more information or to arrange an inspection

PAUL BROWN 021 386 069

ADAM WALLIS 027 695 9989 www.cbre.co.nz/491416251

CORNER PROFILE ON FERRY

ADAM WALLIS 027 695 9989

www.cbre.co.nz/12062020

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

Contact one of our office leasing specialists for expert, local market advice during times of uncertainty.

FOR LEASE

PRICE – POSITION – PARKING MODERN OFFICE COMPLEX

CITY FRINGE EXCELLENCE 226 ANTIGUA STREET, CHRISTCHURCH CENTRAL

A range of tenancy options available within this modern office complex, located directly opposite the new Metro Sports Centre and a stone’s throw away from the Health Precinct and Hagley Park.

The tenancies provide quality, fitted out office space with a combination of individual office/meeting rooms and open plan space. Office configurations can be altered to suit tenants’ needs, if required.

With high ceilings throughout and a north-facing aspect, an abundance of natural light streams through the tenancies with the added benefit of a substantial private balcony on level 1.

Easy access to the site from both Montreal and Antigua Streets, as well as a substantial number of on-site car parks.

Excellent signage options available for each tenancy. + Tenancy areas: 315-645sqm + Substantial on-site parking + Quality existing fitout + Directly opposite Metro Sports + On doorstep of Health Precinct + Prominent signage opportunities + Efficient OPEX and dual access

AVAILABLE NOW Contact CBRE for more information or to arrange an inspection

CONTACT US ADAM WALLIS 027 695 9989

www.cbre.co.nz/226150519

FOR LEASE HIGH QUALITY OFFICE SUITE 335 LINCOLN ROAD, ADDINGTON

AWARD-WINNING OPPORTUNITY

FOR LEASE CONSENT ISSUED 146 KILMORE STREET, CHRISTCHURCH CENTRAL

This property has high quality office space new to the market located on level-1 of the stunning Media Works building. + Great on-site parking + Extensive fit-outs + A-grade amenities + Competitive incentives AVAILABLE NOW Contact CBRE for more information ADAM WALLIS 027 695 9989

www.cbre.co.nz/150519355

FOR LEASE ESTABLISHED RETAIL COMPLEX 1 WAIMAIRI ROAD, UPPER RICCARTON

HIGH PROFILE RETAIL The building enjoys exposure to high levels of pedestrian and vehicle traffic being directly across the road from the Bush Inn Shopping Centre. + On-site car parking available + 285.5sqm retail area + Other tenants include Westpac and Anytime Fitness AVAILABLE NOW Contact CBRE for more information ADAM WALLIS 027 695 9989

www.cbre.co.nz/18072020

CALLING ALL MEDICAL OCCUPIERS NEW PRISTINE AND PROFESSIONAL DEVELOPMENT A premier medical building opposite Forte Health with a river outlook. Construction is due to begin in December and there is an opportunity to share the building with a leading Plastic and Reconstructive Surgeon.

The building comes with 28 ground floor car parks and is in a well serviced location with easy access.

+ 426sqm (floor can be split to suit) + 50% leased + Completion due Q4 2021 + River outlook + Excellent on-site parking

AVAILABLE Q4 2021 Contact CBRE for more information BONNIE STONE 021 843 690 www.cbre.co.nz/49179664

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

HELPING THE INDUSTRIAL & LOGISTICS SECTOR KEEP BUSINESS MOVING FOR LEASE EXCEPTIONAL CBD FRINGE INDUSTRIAL 30 CLARENCE STREET SOUTH, ADDINGTON

TIDY INDUSTRIAL PROPERTY

FOR LEASE OWNERS SAY “PRESENT A DEAL” 65 TREFFERS ROAD, WIGRAM

This versatile property in an excellent location will suit a range of businesses.

WORKSHOP/ WAREHOUSE This property has previously been used for manufacturing and features good power supply.

+ Warehouse: 235sqm + Office: 155sqm

+ Warehouse/Workshop: 905sqm

+ Mezzanine: 43sqm

+ Office: 230sqm (can be reduced)

+ Rear yard: 118sqm

+ Mezzanine: 167sqm

+ Six car parks

+ Two roller doors allow for workflow

AVAILABLE NOW Contact CBRE for more information

AVAILABLE NOW $129,000pa + GST and outgoings

JEREMY BROWN 027 506 0430

NATHAN O’NEILL 021 288 2707 Boundary line indicative only

www.cbre.co.nz/82401742

www.cbre.co.nz/20020765

FOR LEASE CITY FRINGE OFFICE AND WAREHOUSE 52 ESSEX STREET, PHILLIPSTOWN

LANDLORD DEMANDS DEAL

FOR LEASE EXCEPTIONAL SIGNAGE OPPORTUNITIES 228A WALTHAM ROAD, SYDENHAM

North-facing site that’s perfectly located on the fringe of the CBD with easy access to all arterial routes and ring roads.

PROFILE, POSITION AND PEDIGREE Newly completed to a very high standard.

This functional mix of showroom/ warehouse provides the opportunity to capitalise on high traffic counts, profile and signage opportunities.

+ High stud warehouse: 923sqm + Two level office: 366sqm

+ High stud warehouse: 258sqm

+ Two roller doors

+ Showroom/first floor office: 136sqm

+ 22 on-site car parks

+ Further 136sqm of office available

AVAILABLE NOW $129,000pa + GST and outgoings

AVAILABLE NOW $69,500pa + GST and outgoings

NATHAN O’NEILL 021 288 2707

NATHAN O’NEILL 021 288 2707

JEREMY BROWN 027 506 0430

JEREMY BROWN 027 506 0430

Boundary line indicative only www.cbre.co.nz/85742131

www.cbre.co.nz/30248930

FOR LEASE IMMACULATE PROPERTY 66 HAMMERSMITH DRIVE, WIGRAM

PRIME WIGRAM WAREHOUSE

FOR LEASE OPTIONS APLENTY 471 COLOMBO STREET, SYDENHAM

UNBEATABLE PROFILE

A very well appointed office with amenities over two levels and a small trade showroom at the front of the warehouse.

An extremely versatile premises in a prime CBD fringe location.

+ Warehouse: 1,446sqm

+ Total street frontage over 100m

+ Office: 336sqm

+ 258sqm workshop with service pits

+ Trade showroom 58sqm

+ 182sqm office and showroom area

+ Three roller doors under canopy

+ 30 car parks

AVAILABLE NOW $234,000pa + GST and outgoings

AVAILABLE NOW Contact CBRE for more information

NATHAN O’NEILL 021 288 2707

JEREMY BROWN 027 506 0430

www.cbre.co.nz/17082020

+ Huge traffic count

NATHAN O’NEILL 021 288 2707

www.cbre.co.nz/38612345

FOR SALE/LEASE PREVIOUSLY MPI APPROVED 69 HAMMERSMITH DRIVE, WIGRAM

MODERN WIGRAM WAREHOUSE

FOR SALE STORAGE/WAREHOUSE UNIT 9 ELMDALE LANE, PHILLIPSTOWN

North-facing office and warehouse with a 6m stud to the knee. Supported by two roller doors under canopy and a secure yard area. Previously approved MPI transitional facility.

PERFECTLY POSITIONED This is an ideal tradesman’s unit - a lock-up storage unit or office and display. + Bite sized industrial + Seriously motivated vendor + Handy fringe location

+ Warehouse: 785sqm

+ Value add opportunity

+ Single level office: 165sqm

+ Total floor area: 193sqm approx.

+ 16 on-site car parks AVAILABLE NOW Lease $115,000pa + GST and outgoings

ASKING PRICE $279,000 + GST (if any)

NATHAN O’NEILL 021 288 2707

JEREMY BROWN 027 506 0430

NATHAN O’NEILL 021 288 2707

Boundary line indicative only www.cbre.co.nz/99992211

www.cbre.co.nz/19742019

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

When times are uncertain, innovation and experience matters. Stay informed with local market-leading advice from our team of experts.

FOR SALE

SECURE YOUR FUTURE IN IPORT

STAGE 11 FOR SALE NOW IPORT BUSINESS PARK, ROLLESTON

IPORT is a $500 million business park located on 122 hectares of prime industrial-zoned land at Rolleston.

ve IPort Dri

2.47

20.11

34.93

IPORT continues to be a huge success, with 26 lots already sold to date.

Now that the Southern Motorway Stage 2 extension is open to traffic, meaning the predicted reduction in travel time between Rolleston to Christchurch CBD from 30 minutes to 15 can be enjoyed, the developer has released Stage 11, which offers a total of 16 lots between 800sqm and 10,797sqm.

30.00

LOT 804 2370m 2

LOT 805 800m 2

LOT 806 1200m 2

7

60.00

.1

35.00

LOT 803 2100m 2

LOT 802 2100m 2

.44

37.04

LOT 801 3319m 2

37.0

8.7

8

43.3 25.0 25.0

75.17 54.67

123.33

LOT 808 1.0139ha

LOT 825 1115m2

20.00

20.00

31.18

+ Close proximity to Midland Inland Port + 1.5km from SH1 + Great geotechnical conditions + No maximum site cover

71.18

LOT 826 7835m2

LOT 827 9170m2

ASKING PRICE Starting from $212,000 + GST (if any)

CONTACT US

65.23

.5

4

80.29 28.63

36.02

LOT 824 800m2

89.46

40 .43

2480m²

30.00

LOT 823 800m2

65.00

64.24

64.0

2367m²

35.00

24.66

+ Stage 11 titles available October 2020

40

3525m²

64.0

58.17

LOT 1104

LOT 1102

35.00

12

63.0

108.06

43.82

80.4

57.63

LOT 1103

LOT 822 1200m2

20.00

60.00

5459m²

41.49 37.0

30.00

LOT 821 1400m2

20.00

117.79

136.1

LOT 1101

+ Development contributions prepaid (unless a super user) 30.00

111.63

1.0797ha

+ B2A Industrial - Zoning

60.00

.7

LOT 1105

1

47.03

30.00

LOT 807 1200m 2

80.00

35.00

63

+ Lot sizes between 800sqm - 10,797sqm 76.5

3.5

35.00

.5 12

31.15

30.38

35.00

123.33

AD ONS RO MADDIS

6.39

20.00

60.00

2

9

30.00

40.00

20.00

.9 10

31.14

40.0

52.50

130.17

53

7

60.17

105.11

1560m²

16

40.50

1370m²

20.14

Freight Drive

40.00

6.4

LOT 1110

LOT 1109

29.90

40.00

6413m²

LOT 818 1064m²

41.97

.9

52.53

32.00

40.0

40.0

IPort Drive

59.89

4789m²

LOT 1106

30.43 35.31

3.5 4.5

57.61

LOT 1111

108.13

32.17

4.5

4.56

Container Drive

34.77 65.75 4.5

81.11

41.5

85 .6 1

53.75

25.0

25.0

23.9 1.1 2.4

LOT 816 1966m²

8

Factory Drive

35.5

60.0

56.53

59.3

40.0

LOT 811 3902m²

80.72

1000m²

995m²

.6

3.5

LOT 1115

LOT 817 978m²

This is a unique opportunity for business owners or investors to purchase unencumbered land - with no building ties to any building company and prepaid development contributions. These lots will suit occupiers who want to own rather than lease new premises, enjoy reduced rating expenses and be part of an exciting industrial development.

67.01

16

4.21

59.3

14.82

10.55

800m² 40.0

LOT 1116

32.17

20.0

20.0

LOT 1118

.15 14

4.5

29.90

67.01 41.97

23.32

6942m²

60.03

30.43

800m² 40.0

LOT 1107

41.97

42.67

7 6.0 61.6 4

57.28

60.01

20.0

LOT 1117

41.97

34.77

122.03

32.57

LOT 815 2158m²

40.0

40.0

41.43

7509m²

.59

LOT 814 1527m² 46.30

LOT 812 3747m²

5547m²

LOT 1108

29.50

15

89.81

LOT 813 1295m²

102.84

131.36

LOT 1119

19.45

29.89

9.18

10

.7

3

34.21

31.82

HOSKYNS ROAD

SCOTT BENTLEY 027 203 3310

47.09

HOSKYNS ROAD www.cbre.co.nz/491779571

FOR LEASE

FOR LEASE

EXCELLENT WAREHOUSE, OFFICE AND LARGE YARD 80 CHAPMANS ROAD, WOOLSTON

THREE LEASE OPTIONS AVAILABLE 200 MACES ROAD, BROMLEY

Boundary line indicative only

Boundary line indicative only

ARE YOU LOOKING FOR A SITE FOR CONTAINERS? A great opportunity to lease this warehouse/ factory building on a completely standalone site. This property offers tidy office space, clear span warehouse with good roof height, mezzanine and excellent street access into a large yard area, which is ideal for container deliveries.

© Google Maps

CHARLES LUNEY BUSINESS PARK + Office area: 224sqm + Warehouse area: 589sqm + Yard area: 2,050sqm + 35 car parks + Industrial Heavy - Zoning + Land area 4,620sqm + Site has been MPI certified

Charles Luney Industrial Park is a well managed and maintained business park in Bromley. This site offers a variety of different size space for lease with good car parking and yard space for containers. We are advertising three different size warehouse/factory buildings each with their own office spaces, car parks and power supply.

+ Building 4: 845sqm office/warehouse + Building 6: 820sqm office/warehouse + Building 8: 1,715sqm office/warehouse + Industrial Heavy - Zoning + Excellent car parking available

AVAILABLE NOW Asking rent reduced to $115,000pa + GST + Opex

PRICE BY NEGOTIATION Contact CBRE for more information or to arrange an inspection

SCOTT BENTLEY 027 203 3310

SCOTT BENTLEY 027 203 3310

www.cbre.co.nz/14072020

www.cbre.co.nz/14072020

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)

A R E YO U LO O K I N G F O R COMMERCIAL PROPERTY ADVICE? We know exactly how to guide real estate occupiers and investors in today’s fast-paced, volatile climate.

Contact one of our experts for a confidential discussion about your commercial property.

Tim Rookes

Bonnie Stone

Carl Graham

Merv Davies

Mike Beresford

Phil Overend

Managing Director 027 562 3700

Director 021 843 690

Director 022 485 412

Director 021 435 899

Director 027 433 1346

Director 022 642 7930

Paul Brown

Scott Bentley

Cameron Darby

Nathan O’Neill

Adam Wallis

Jeremy Brown

Associate Director 021 386 069

Associate Director 027 203 3310

Senior Negotiator 027 450 7902

Negotiator 021 288 2707

Negotiator 027 695 9989

Negotiator 027 506 0430

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.

CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) Level 4, 222 High Street, Christchurch

03 374 9889

www.cbre.co.nz