Transpower selling Sockburn strip
The green grassed strip beneath the power pylons roughly indicates the land corridor that’s for sale. Photo / Supplied
Probably the cheapest industrial land on offer in Christchurch for some time is being marketed for sale on behalf of Transpower for under $6 per square metre in one of the city’s most sought-after industrial areas.
The property comprises Transpower’s power corridor at 20 Cable St in Sockburn, which is being marketed with a declared reserve of $79,000 plus – about $5.75 per sq m.
The 13,745sq m strip of land runs parallel to Blenheim Rd on one side and McAlpine St on the other.
Zoned Commercial Mixed Use, it is earmarked for auction at 10am on Thursday April 12 unless sold earlier.
Oliver Salt, an industrial sales broker with Colliers International, says the price reflects the unusual nature of the site, but he’s already fielding good inquiry.
“Industrial land within the west of the city boundaries usually sits between $200 to $400 per square metre but the pricing for this Transpower site reflects its difference.
“We think it lends itself to yarding, car parking and general storage options, but potential buyers would need to do their due diligence to understand its prospective uses.”
Salt says Sockburn is home to a wide range of national and international businesses. “It’s long been one of the most sought-after industrial areas in Christchurch because of its easy access to main arterial routes, high level of local amenities and established conventional property.”
He says there had been a strong uptake of unencumbered freehold industrial land in the area.Recent developments in the immediate vicinity include the new 14ha Central Business Park and Wigram Business Park. Both are now sold out.
Waterloo Business Park has sold 77 per cent of its developed 114ha land that is now home to around 50 businesses with around 1000 employees.