Developers aim to build on success
The developers of a complex of industrial units in Sockburn in Christchurch are repeating the concept nearby on an old meatworks site.
Tauranga-based CBC Construction have already built the City West complex on Nga Mahi Rd just southeast of the Sockburn roundabout.
Now they are taking unmet demand from that project and channelling it into a similar complex on the other side of the roundabout.
They are planning to build the WestGate Business Park on part of the old Alliance Freezing Works site on Racecourse Rd. They will complete the project under the name Tetley Partners, which also has a Porirua shareholding.
Their plan this time is to build 24 units on the one-hectare block.
The land is part of a larger 6000 square metre sitesold off by the Alliance Group co-operative last year, after the 2011 closure of the unprofitable meat plant.
The buyer of the larger site - land development company Central Business Park - are subdividing and developing their land for industrial use, and on- selling the smaller block to Tetley Partners.
Real estate agent James Cooney of Knight Frank is selling and leasing the units. He says the project began after high demand for the smaller units at City West, and as a result WestGate will have units priced at under $850,000, with most under $500,000. It will have about 100 car parks.
"A lot of people who missed out at Nga Mahi Rd are now looking at this complex. We haven't taken it to the market yet and we've got offers coming in. It's aimed at that middle range, it's targeted at the masses," Cooney says.
Construction of the complex will be staged, with work due to start soon. The units will be a combination of warehouse, office and showroom space.
- © Fairfax NZ News