Sites are selling down quickly in Christchurch’s newest Industrial subdivision with around 30 percent of the freehold sites already committed.

Landowner/developer The Wellington Company is behind the master-planned Factory Road Industrial Business Park, at 79 Factory Road, Belfast – the last undeveloped industrial land available within Christchurch’s Northern Corridor. There is a total 39 lots across the park of varying sizes with the cost-effective land priced from $275 per square metre and lot sizes ranging from around 1,000sqm to amalgamated sites of up to 24,400sqm.

Titles have been issued, services installed to site boundaries, and a landscaped entrance created. There are no build ties associated with the business park, allowing purchasers to design and build bespoke premises to suit operational needs and the Industrial General zoning allows for a wide range of industrial uses including trade services, logistics, warehousing, light manufacturing, and automotive.

The subdivision provides convenient access to State Highway1/74, significant exposure to approximately 48,000 vehicles daily, easy connectivity to Main North Road, and a proposed future connection to the new Northern Expressway.

With a good choice of individually priced sites remaining, the lots within the Factory Road Industrial Business Park are being marketed by Sam Stone of Bayleys Christchurch.

As titles and services are in place, Stone says buyers can proceed with the design, consenting, and build process immediately and it is clear from the buyer response to date that the sites are filing a gap in the industrial market.

“Bayleys has sold four sites in the last few weeks alone, with small to medium-sized businesses attracted to the location and the value on offer. The latest buyers include a home-staging business, two builders, and an engineering business which demonstrates the appeal across the board.

“There are limited opportunities in Christchurch to buy accessibly sized and well-priced sections, and as the sites can be amalgamated with options up to more than 2ha, large-scale operators such as bigger manufacturing businesses can be accommodated, too.

“If buyers are interested in turnkey options, then they should talk to us as we are dealing with a number of building companies who could deliver tailor-made solutions.”

Stone says owner-occupiers looking to make a move into a property of their own could leverage the new government Investment Boost initiative to get the tax benefit on qualifying new buildings and associated plant and equipment.

“That recently announced initiative could be the nudge that some potential owner-occupiers need to progress to ownership.

“News that the government also intends to allow more overseas building materials into New Zealand's construction sector could also make the overall new-build more cost effective.”

Factory Road Industrial Business Park is well-positioned to leverage connectivity to Christchurch International Airport, Lyttelton Port and the Christchurch CBD. A large residential catchment including Kaiapoi, Woodend, Rangiora and Pegasus means there’s a large pool of labour to draw on, and the area is well-serviced by retail and amenity.