A lot of people think Christchurch is totally devastated but industrial land is untouched in the main.
Colliers agent Gary Seear said it would be wrong to write off the majority of the city’s industrial, which is virtually untouched in the west.
“Bromley, Woolston and the east have some damage but the west and south is fine. We don’t want people to be scared away thinking the whole of the city is affected.”
Most spare space that had been completed has been taken up and commercial tenants are seeking alternative spaces. The level of inquiries for new space has shot up, Mr Seear said.
“We haven’t seen any sales of land yet the sales should increase. It has to because of supply and demand. There are several sites where developers have started buildings for completion in about six months. There are even plans for spec buildings which we haven’t seen for a long time.
“Everyone has helped out people trying to find space. In coming weeks some people will reflect about whether they want to be on the outskirts. Some of them will go back to the central; business district but only in two or three level buildings.
“No one of our generation will go back to a high rise. We’d be reluctant to go back to our building (the Brannigans building in Gloucester St). There was concrete falling when we got out and since then it’s been red stickered.
“I can’t see a shift or abandonment of the central business district because there are still too many valuable buildings. But land prices in the central business district will fall while prices in the west will go up,” Mr Seear said.
Chris Hutching
Wed, 16 Mar 2011
Wed, 16 Mar 2011
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