Industrial site for sale for first time in 50 years

NZ Herald

20 Oct, 2016 10:42 PM2 mins to read

An aerial view of the 4.6ha Sockburn site in Christchurch occupied by BOC.

German publicly listed multinational The Linde Group is selling its 4.6ha Sockburn site but will lease back part of it for another 15 years.

The property is occupied by BOC, a member of The Linde Group, which supplies compressed and bulk gases, chemicals and equipment around the globe, says Sam Staite, director of industrial sales at Colliers International in Christchurch who is marketing 21 Epsom Rd for sale by deadline private treaty closing on November 16.

"BOC has been operating from the Epsom Rd site for more than 50 years and is now in the process of rationalising its operations," Staite sys.

"As a result of increased efficiencies, BOC now only requires part of the property for the long term. This 18,000sq m area houses its main operations and filling floor building as well as a former oxygen factory building which was decommissioned in 1991/92.

"BOC will take a new 15-year lease on this centre site, giving any buyer an excellent holding income of $280,000 per annum net rental. It's a big advantage to have such an established business as a long term tenant."

The 21 Epsom Rd property also incorporates two other sites consisting of a former acetylene factory, vacant from December, and the staff cafeteria and office buildings over which BOC has a short term lease.

BOC is located only 230m from the busy Sockburn Rd roundabout, that links Main South Rd, Blenheim, Racecourse and Epsom Rds.

Home to a wide range of national and international businesses, Sockburn has long been one of the most sought after industrial areas in Christchurch because of its easy access to arterial routes, and high level of local amenity.

Staite says recent developments in the immediate vicinity include the new Central Business Park, located to the west at Racecourse Rd on the former Alliance Freezing Works site. Companies now located there include Peter Baker Transport, Netlogix, Ulrich Aluminium, and Blackwells Loadmaster.