Investment Income & Unused Water Rights
For Sale by Negotiation
2 Matipo St, Christchurch, Canterbury, New Zealand
view north east to central Christchurch
view north west
This significant land holding with food processing facilities and cool storage, offers an exciting blend of income and opportunity.
- Site Area: 1.6249ha
- Approx Net Lettable Area: 8,400m²
- Current lease income: approx NZ$500,000 (US$350,000)
- Zoning: Industrial Heavy
- Resource Consent (subject to a new resource consent application): to take and use ground water at a rate of 2,592 cubic metres per day
- Resource Consent Expiry Date (subject to a new resource consent application): 2036
Annual rental is approximately NZ$400,000 or approximately 40% of net lettable by assessed value, with negotiations underway to lease more warehouse space.
Until 2015, 2 Matipo St, was a food processing site and had a permit to take and use ground water to a volume not exceeding 2,592 cubic metres per day (approximately 950m litres/annum).
Canterbury's artesian water is known for its unparalleled purity and this water right has incredible potential because of its quality and volume. Importantly, in New Zealand water is a free raw material input to the manufacturing process. There is no tax, fee or levy on water provided the property owner complies with the terms of the consent.
Seismic strengthening and fire compliance engineering plans and costings have been completed. However this work has not been scheduled to start with any work undertaken to be determined by the purchaser's requirements.Once complete this makes available approximately 950m² of quality offices over two levels along with various workshops and food processing areas.
This is an outstanding opportunity to land-bank in a prime industrial location with investment income, knowing more lettable space is soon available, and/or take it a step further and consider capturing the real value of water. To register for the Information Memorandum complete the form below or call Jeremy Speight 64 276 555647