With a wave of money rolling off term deposits and as real returns on money in the bank diminish, agents marketing three accessibly priced and fully tenanted industrial units within the established Enterprise Business Park in Christchurch are picking that first-time investors will gravitate to them.

Forming part of a 9-unit complex that was constructed circa-2006 on an Industrial General-zoned site, the unit-titled Units 2, 7 and 8 at 4-6 O'Briens Road in the Sockburn industrial and commercial precinct are for sale through Bayleys. The units are still owned by the original developer and will be sold separately, or in any combination.

The northwest -facing modern units have well-structured leases, a high ratio of allocated car parks, and are assessed at 72 percent new building standard.

Unit 7 with 1,541sqm total floor area is the largest of the offerings and has 39 designated car parks. It is a contemporary and well-maintained facility occupied by infrastructure firm McConnell Dowell Constructors Limited, community service provider The Chris Ruth Centre Trust, and technology company Acusensus. The property generates annual net rental income of $230,000, with a weighted average lease term of 2.6 years, further rights of renewal, and regular rent reviews are in place.

Unit 2 consists of a 763sqm high-stud warehouse, ground and first-floor offices and 17 associated car parks. It is leased to Light of All Nations Ministry Trust under a five-year lease commencing 1 January 2023, with a right of renewal and two-yearly rent reviews. The property generates annual net rental income of $108,500.

Unit 8 is a well-positioned 130sqm ground floor café and food production unit with seven car parks. The food grade premises are leased to The Corner Café and mobile food business Munchies under a single agreement commencing 1st May 2025. This unit returns annual net income of $30,966, with both tenants providing personal guarantees, giving income security.

Graeme Donaldson and Bill Kingston of Bayleys Christchurch are marketing the three units for sale by deadline private treaty closing Thursday 3rd July, unless sold prior.

The smart Enterprise complex is appealing to occupiers, with Donaldson saying the excellent street profile and ease of access elevates it for businesses looking for functional and efficient premises.

“Being on the western side of Christchurch and with strong arterial access, Sockburn offers streamlined connection with the CBD along with south of the city and is close to the ring road giving links to Christchurch International Airport and towns to the north.

“The property itself has dual access from O’Briens and Epsom Roads, with this carriageway accommodating larger truck and vehicle movements.

“The café in Unit 8 is an important part of the business park and rounds out the occupier mix which across the complex covers the spectrum of light industrial/commercial businesses.”

Donaldson says the units provide opportunity for those new to the investment market “to dip their toes in” at an accessible price point but could equally suit existing investment entities looking to bulk up a commercial portfolio.

“There’s a shortage of tenanted investment stock across the city which enhances the appeal of these units for buyers, but also speaks to the attraction that the Enterprise Business Park has for occupiers.

“These units have tidy leases and demonstrated tenant commitment, which will resonate with investors – and lenders.”