New Industrial Subdivison For Hornby

New Industrial Subdivison For Hornby

Scarcity of space sparks heavy interest

A new 14-hectare subdivision is being developed in Hornby, on the former Watties land off Shands Road Ð and the rarity of the development is sparking considerable interest.

Once completed, the development is expected to be worth more than $40 million.

The subdivision, which is on land zoned Business 5, will be called Sir James Wattie Estate, after the founder of Watties. It is a joint venture between Laing Developments and Naylor Love.

The subdivision will offer development site options from 4,000 square metres to four hectares. It will include outstanding entrance and landscaping features, to create a distinguished presence and pride in the location.

"We want to create a world-class industrial estate the likes of which just aren't being created in Christchurch. Many of the likely occupiers are the local headquarters of international corporations and we wanted to offer them an international quality estate, one they and their clients want to be associated with. We have an emphasis on creating value for our clients and being valued," says Duncan Laing, Managing Director of Laing Developments.

Simes Real Estate commercial agent Andrew Mason, who is marketing the development, says already serious expressions of interest have been made for more than 40% of the development.

"Blocks of over a hectare of industrial zoned land in the Hornby area are becoming increasingly scarce, as rising land values have resulted in many of the larger blocks being subdivided in recent years."

Andrew Mason says Hornby is fast becoming the preferred location for many businesses in the transport and logistics industries.

"Historically this was because of the cost and availability of the larger blocks but now there is a critical mass of the larger industry players in Hornby, many others are looking to follow. This started with Progressive's Supply Chain and followed since then by many other companies such as Foodstuffs, Cardinal Freight, Linfox, Pasco Transport and Anchor to name a few".

But it's not just the transport industry that's moving to Hornby.

Andrew Mason says in the last year several manufacturing companies have relocated or opened a second site in the area.

"Hornby's lower land cost and its proximity to both the State Highway One network and arterials feeding into the CBD and other industrial suburbs means that Hornby is a credible alternative for many former Sydenham or Sockburn tenants".

The Sir James Wattie Estate will be available for construction from the end of this year with completion of the road network expected before Christmas.

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