High demand for Rangiora land

The first stage of the Rangiora Business Hub's development saw exceptional market penetration with 18 of its 35 sites contracted and 10 of those sites sold.

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The first stage of the Rangiora Business Hub’s development saw exceptional market penetration with 18 of its 35 sites contracted and 10 of those sites sold.

Recent sales activity in Rangiora has highlighted that demand is outstripping supply for freehold industrial land in Greater Christchurch, property company Colliers said.

Sam Staite, director of industry at Colliers, said just eight weeks after it went live, 18 of the Rangiora Business Hub’s 35 sites were under contract and 10 had been sold.

With Christchurch’s freehold industrial land supply in the final stages of being absorbed by buyers, values ​​are expected to continue to rise strongly, Staite said.

“Industrial land across Canterbury is scarce and with very few new developments on the way, it’s no wonder this development is already in high demand with sections selling out quickly.

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“We knew there would be strong interest from homeowners, investors and tenants, but even we were surprised by the speed of sales.

“The main advantage is that the Rangiora Business Center offers the opportunity to secure affordable, freehold industrial land in one of the highest growth commercial locations in the district.

“Given the level of sales, we expect the developers to release stage two shortly, although prices may be higher than stage one, where there are still seven bundles available.”

Staite said the first stage titles were expected to be released in the second half of 2023. It was likely that the second stage would be completed at the same time as the first stage.

The industrial park is being developed by Mainland Capital, a South Island-based commercial real estate investment manager.

Minutes from the bulk retail district of Southbrook, the planned 13.8 hectare development offers freehold title with options ranging from 1200 square meters to 1.35 hectares.

The main entrance to the industrial park on Todds Rd is a few hundred yards from Flaxton Rd where McDonald’s, Mitre10 Mega and Pak ‘n Save are located.

Both roads of the development lead to Kingsford Drive Business Park, home to companies such as MainPower, NZ Police, Rayonier and PGG Wrightsons.

“Southbrook, and in particular Flaxton Rd, has experienced significant growth in recent years as industry and services have responded to the ever-growing population of the Waimakariri District. This growth has created a shortage of industrial land available for sale, especially smaller land,” Staite said.

The city of North Canterbury was becoming the place to watch as developers and big industrial companies turned their gaze to the silent former director, he said, with faster motorway links, a growing population and a dearth of greenfield industrial sites.

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