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Investors warm to EcoChill industrial premises for sale

The modern premises housing a pioneering New Zealand provider of sustainable commercial refrigeration solutions have gone up for sale in a central Christchurch industrial location.

The versatile warehouse and office property in sought-after industrial Sydenham is home to the Canterbury service hub of EcoChill.

Founded in 2000, Kiwi-owned and operated EcoChill is a leader in natural refrigeration solutions and the development of zero-emission cooling technology. It specialises in delivering temperature and humidity-controlled environments, from packaged units to turnkey solutions, that meet business’s environmental and performance goals. Headquartered in Auckland, the company has service hubs in Waikato, the Bay of Plenty and Christchurch.

The property for sale on Kingsley Street, Sydenham, is fully leased to EcoChill on a current lease that runs through to 2029 with two further six-year rights of renewal.

The lease generates an annual net rental return of $164,000 plus outgoings and GST, with built-in 2.5 percent annual rental growth plus market rent reviews every three years.

The freehold land and building at 37 Kingsley Street, Sydenham, Christchurch, are being offered for sale through Nick O’Styke and Anna Morawiec of Bayleys Canterbury.

The property will be sold by deadline private treaty closing on Thursday 7 March, unless it is sold prior.

The approximately 1,180-square-metre building sits on more than 2,000 square metres of freehold land with onsite parking for 18 vehicles.

O’Styke said the functional, high-stud warehouse spanned more than 1,000 square metres with a container-height roller door and an approximately 60-square-metre canopy. This was accompanied by some 130 square metres of modern office and staff amenity.

“The original factory was constructed with concrete floor slab and precast concrete walls, supported by steel portal frames with central columns, with the office and amenities added in 2007. With strengthening works completed, the structure has an Initial Evaluation Procedure seismic rating of 100 percent of new building standard.

“A large secure front yard allows for ease of access and manoeuvrability, adding further to the site’s versatility.

“The property and tenant enjoy excellent profile with around 40 metres of frontage to one of Sydenham’s most popular streets,” said O’Styke.

Morawiec said one of the site’s key attractions was its central location in the sought-after area of industrial Sydenham.

“Sydenham is close to the city centre and the amenities of Colombo Street and handy to main arterial roads enabling easy access across other parts of the city,” she said.

The property for sale forms part of the Industrial General zone under Christchurch’s district plan.

“This zone in Sydenham serves as a prominent industrial hub with a diverse range of properties. These provide space for the likes of medium to large-scale manufacturing, warehousing and distribution centres.

“The suburb’s commercial sector offers a mix of corporate offices and consulting firms contributing to the professional landscape, while retail spaces, cafes, restaurants and boutique shops attract residents and visitors,” Morawiec said.

Click here for more information on the listing.

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