CBRE is pleased to present the sale of 32 Iport Drive, a true international grade trophy industrial investment situated in the Rolleston IPort Business Park.
Completed in 2020, 32 Iport Drive presents one of Christchurch’s best opportunities to acquire a true premium International grade industrial asset of scale. The 4.52 hectare site includes 20,390sqm of high stud warehouse, 560sqm of office, and over 8,000sqm of breezeway and canopy area in addition to an open boundary, shared with the Midland Inland Port allowing access to the Main South Railway line.
Leased to Lyttelton Port Company, wholly owned by Christchurch City Council, the asset is currently returning $3,945,745 per annum net plus GST, and offers exceptional rental growth via two yearly CPI rent reviews and four yearly rent reviews to the greater of CPI & market.
The asset is located in the IPORT Business Park, a $500 million business park positioned on 122 hectares of prime industrial-zoned land in Rolleston. IPORT is strategically located at the intersection of the South Island’s major freight arteries, neighbouring the Midland Inland Port, the recently opened Southern Arterial Motorway and the Metroport Inland Port.
Opportunity Highlights:
32 Iport Drive is a purpose-built, international-grade logistics facility located adjacent to the Midland Inland Port in the South Island’s transport and logistics epicentre.
- International grade logistics facility
- 29,401sqm (approx.) of premium grade warehouse on 4.52ha of land
- AA Credit rating of the Head Tenant, Lyttelton Port Company
- Shared boundary with Midland Inland Port enabling direct access
- Long term lease and strong rent profile
- Direct rail siding access to Main South Railway Line
- First of this scale to come to the market in Christchurch history.
32 Iport Drive is being offered for sale by way of an International Expressions of Interest campaign closing Wednesday 27th March at 4:00pm NZST (unless sold prior). Potential buyers are invited to participate in the sale process by registering their interest. All offers must be provided to CBRE, the exclusive agent.