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Character, purpose and opportunity combine in Sydenham

A well-located and refurbished industrial property in Sydenham, Christchurch is now for sale as its owners progress with salvaging other properties around the city and giving them a new lease of life.

Formerly a commercial glass factory, 105 Orbell Street is a high profile 1950s building which has been creatively reimagined into a flexible mixed-use hub and, along with the functional adjoining warehouse at number 109, provides a total of around 1,619sqm of lettable space on a substantial 1,793sqm site.

The vendors, Box 112, are innovative specialists adept at repurposing and rejuvenating heritage and industrial properties around Christchurch city and have been behind well-known projects such as The Yard, The Welder and The Midland Club.

Strengthening of the subject property at the corner of Orbell and Disraeli Streets has brought the seismic rating up to 100% of new building standard, and extensive refurbishment works have been carried out to create a well-presented and adaptable offering with character, great natural light and authentic nods to its industrial past.

Exposed steel, concrete, new timbers, glass and existing industrial features such as a gantry crane, high pitched ceilings and mezzanine areas combine to produce a workable space with loads of personality.

The property has on-site parking, loading bay, cycle parking and expansive street profile.

While there is currently some vacancy across the property, the occupied space returns annual net income of around $165,500. Tenants at 105 Orbell Street are indoor axe throwing business, Battle Axe Throwing and the Grater Goods food production business and café, while next door at 109, is panelbeater business, Allied Auto Bodies.

Vacant space available for lease comprises a ground floor office tenancy, a showroom/retail/office tenancy and warehousing space.

The property is being marketed by Ryan Kerr and William Wallace of Bayleys Christchurch via a deadline private treaty campaign closing 6th June.

Kerr said the owners have done a remarkable job turning what was a typical industrial “shed” into a sought-after mixed-use property that has broad appeal to occupiers.

“Many will remember that the vintage store Junk and Disorderly used to operate from here, and a new owner could take the property further and create more value by re-leasing the vacant space to businesses that complement the existing line-up.

“Over the past five to six years, Sydenham has evolved from its more-gritty industrial roots to become an eclectic suburb where local artisan and entrepreneurial businesses have found a really convenient base that people want to visit.

“Sydenham has effectively reinvented itself and is now a destination for people looking for a point of difference, and this Box 112-designed property has helped foster that perception and new reality.”

Kerr said owner-occupiers looking for unique space will recognise the opportunity to acquire the whole property, then occupy the vacant areas themselves while benefitting from the rental income from existing occupiers

“As those leases roll over, there’s room for a growing business to expand operations, or continue leasing out the components of the building that are not required.

“Equally, a savvy investor will appreciate that the hard work has been done on the physical building and see that the space has flexibility and opportunity for any number of businesses to lease.”

The property is zoned Industrial General and has approved consents for mixed-use, commercial, retail and warehousing.

The strategic location close to Moorhouse Avenue and the Christchurch CBD, means Sydenham property is tightly held by owners and remains in high demand from occupiers looking to leverage the efficiencies that the suburb offers businesses.

Click here for more information on the listing.

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