The modern warehouse-and-office premises sit on a more than 2,200-square metre freehold site within in the Izone business park in Canterbury’s Rolleston industrial hub.
The property for sale at 5 John Morten Place is fully leased to Industrial Brake and Track (IBT), a major provider of spare parts to New Zealand’s mining, forestry, roading, contracting, quarrying, earthmoving and construction industries.
IBT supplies replacement parts for engines and brakes, as well as undercarriage and rubber tracks, for the likes of earthmoving machinery, excavators and cranes.
Formed in 2006, and 100 percent New Zealand-owned, the company is headquartered at the Rolleston site, with three satellite offices in Queenstown, Ashburton and Tauranga.
IBT pays an annual net rent of $152,128 plus outgoings and GST for its Rolleston premises, on a lease that runs through to 2028 with a further five-year right of renewal. The lease comes with built-in 2.5 percent annual rent increases, replaced every third year by a market rent review.
The freehold land and building at 5 John Morten Place, Rolleston, are being marketed for sale by Nick O’Styke and Anna Morawiec of Bayleys Christchurch.
The property will be sold by deadline private treaty closing on Friday 12 May, unless it is sold prior.
O’Styke said the approximately 830-square metre building sat on some 2,233 square metres of freehold land with 16 car parks.
“Constructed to a high quality in 2021, the property encompasses a more than 690-square metre clear-span warehouse with two roller doors, complemented by some 136 square metres of smart, modern office and staff amenity areas.
“A large, fully fenced yard at the front allows for easy vehicle manoeuvrability and plenty of parking, while around 35 metres of road frontage gives the property a prominent presence in this popular location.
“A new five-year lease to national-brand tenant Industrial Brake and Track makes this property an attractive bottom-drawer investment,” O’Styke said.
The site, zoned Business 2A by Selwyn District Council, provides excellent land conditions.
Morawiec said the property, and tenant business, benefited greatly from being located within New Zealand’s largest industrial park, the now sold-out Izone Business Park.
“This location offers easy access to State Highway 1, connecting Rolleston with Christchurch’s central business district, the Port of Lyttelton and Christchurch International Airport.
“Two large inland ports are also nearby, making the area a convenient location for many industrial and logistics businesses.
“Located around 15 minutes’ drive from Christchurch, Rolleston is a thriving town with an expanding population which has become an extremely popular location for businesses as well as new residential development,” said Morawiec.