6 Dalziel Place, Hillsborough, Christchurch

THE PROPERTY

• Modern north-facing 1,830sqm building with large high-stud warehouse plus canopy, high quality offices, showroom and amenities
• Located on a 3,598sqm freehold site with excellent access to Lyttleton Port
• Leased to Sydenham Joinery Limited, who have occupied the site since 2017, and renewed their lease for a further six-year term in 2023
• Zoned Industrial-General
• Returning net rental of $195,384pa + GST and outgoings

QUICK LOOK

• National Total Property marketing campaign via deadline private treaty
• Interest generated from Bayleys’ nationwide Total Property magazine, databases, print ads, multiple digital platforms
• Pre-deadline unconditional offer received and accepted by vendor
• SOLD for $3,400,000
• Purchased by a local passive investor who is an established Bayleys client

The Story

Nick O’Styke and Anna Morawiec of Bayleys Canterbury say it was a pleasure to take this quality industrial property to the market for a long-time client that they have dealt with on multiple occasions.

“The property was a logical opportunity for a buyer looking for something with all the hallmarks of a great industrial investment offering. It covered off location, reputable tenant, good income, and rental growth potential – exactly the sort of property we’d all like in a portfolio,” says Nick.

“It was no surprise that when we put the property in front of another long-standing client of ours that it was snapped up, getting an unconditional offer within days of hitting the market and well ahead of the campaign close date.

“This was a good, clean result and really showed the value of having working great relationships with our clients.”

Vendor comment

Vendor Bernie Hunt says Bayleys is lucky to have Nick and Anna on their team and praises the amazing result they attained.

Successful joinery business owner Bernie purchased the Dalziel Place property in 2016 and is now upgrading to a new building. He has dealt with Nick and Anna on other properties both as a vendor and purchaser over the years, and talked to them around 12 months ago about potentially selling this industrial building.

“I didn’t put a time frame around it then as I had tasked Nick to find me some land for a new premises. Now that we’ve secured a site and are about to start building in Factory Road, Belfast the time was right to sell.”

Bernie had no hesitation about listing in the current market as it was all about timing for him, and he had confidence in the team’s ability to get it sold.

“All the properties they have taken to market for me in the past have sold really quickly and for an excellent sale price.

“Nick and Anna are highly motivated and again got a fantastic result in days – it was truly amazing.

“I call it a friendship business. Nick and Anna are both very special people, so easy to work with, always doing their best – Bayleys is lucky to have them.”