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Less than a year after purchasing a strategically located 32ha block of former farmland, Ngāi Tahu Property’s plans for the development on Hoskyns Rd are progressing.
The development, known as Tawhiri, adjoins the Izone Southern Business Hub and is close to IPort Business Park and Rolleston town centre.
It is being rolled out in three stages with nearly half of the sites in stage one confirmed as sold or under contract.
Of the 21 sites, seven have sold, a further three are under contract and advanced negotiations are under way on several other lots.
Harry Peeters and Nick O’Styke, of Bayleys Christchurch, are marketing the balance of the freehold sites in stage one of Tawhiri, with the individual lots being sold by negotiation and the new titles expected to be through by the end of this year.
“Site sizes range from around 1,000 sq m up to almost 2.8ha and there are no build ties with construction companies meaning there is inherent flexibility for both investors and owner-occupiers.
“Land is priced from $165 per square metre, making it extremely competitive in the marketplace - particularly when compared with the asking price of other similar industrial land in the vicinity," said Peeters.
He said they’re seeing demand and interest from trade merchants, such as plumbing and gas specialists, coolstore, logistics, food processors and manufacturing businesses.
“I believe the market is showing confidence on the back of evidence that big players in the development market are committing significant resources to establishing a presence in the Rolleston area.
“Ngāi Tahu Property has been proactive and strategic about securing industrial development land, recognising that it’s the strongest performing segment of the wider commercial property market and wishing to support Canterbury’s logistics, manufacturing and agri-business sectors."