A high-performing industrial property in one of Canterbury’s tightest-held industrial precincts is being brought to market, offering investors immediate income, leasing flexibility, and long-term upside in a strategic growth location, Bayleys brokers say.

Bayleys Christchurch commercial and industrial specialist Steven Schwalger is marketing the 1,436sqm (more or less) freehold site at 17 Avenger Crescent for sale by auction at noon on Thursday, 3rd July 2025 (unless sold prior), alongside colleague Graeme Donaldson.

Schwalger says the dual-tenanted asset features a modern, post-earthquake building with a total floor area of approximately 985sqm spread across two industrial units, each with a generous warehouse component, quality office space, and on-site parking.

“Currently fully leased, the property returns a combined net income of $130,115 pa plus GST and outgoings. The income is underpinned by two established tenants, packaging business PacLink 2021, and security provider First Security Guard Services, with a healthy Weighted Average Lease Term (WALT) of 3.16 years.”

Schwalger says the asset offers a rare combination of modern construction and two income streams in a prime industrial location.

“This is a split-risk opportunity in a market where quality, well-leased industrial property is in demand. The dual-tenancy structure allows for income diversification while providing excellent leasing flexibility.

“The tenants are well-established national operators, with current leases to 2029 and 2027. Lease arrangements also provide for renewal rights through 2035 and 2033.

“The subject property is undoubtedly a robust offering that would suit investors seeking strong cashflow with the potential for future rental growth.”

Positioned on the corner of Avenger Crescent and Morse Road, the property benefits from an excellent profile and connectivity, with access to the Southern Motorway and key arterials, including Halswell Junction Road and Shands Road.

The property is zoned Industrial General under the Christchurch District Plan, allowing for a broad range of industrial activities with minimal conflict to surrounding uses.

Bayleys Christchurch commercial and industrial specialist Graeme Donaldson says Wigram is widely regarded as one of Christchurch’s premier industrial precincts, having undergone significant transformation and growth following the Canterbury earthquakes.

“The area features modern infrastructure, high-quality developments, and proximity to major commercial, residential, and logistics hubs.”

Donaldson says these fundamentals support strong tenant demand and low vacancy rates in the precinct. “Wigram has become a destination of choice for trade, logistics, and service-based businesses. The level of amenity, access, and connectivity makes it an incredibly attractive location for occupiers, which in turn underpins investment performance,” he says.

“The building has been constructed to 100 percent of the New Building Standard (NBS) and offers functional design that suits a wide range of uses. Combined with the strength of its location and the tenancy profile, 17 Avenger Crescent represents a strong, long-term play for investors.

“This is a future-proofed asset in a high-growth catchment. As industrial remains one of the most resilient sectors in the market, opportunities like this continue to attract informed capital seeking quality and stability.”