Demand for buildings and office space

Press, 24 March 1988, Page 43

Demand for buildings and office space

I "People are too pessimistic about the developing real estate in Christchurch,” says J ■ Roger Bridge, a partner.; [in M. B. Cook and Co,;-... 4 |'■ ! “There is a considerable amount of wrong information going “'out,, especially in connection with ail the new buildings and office space which is becoming available." [ ■ M. B.jCook and! Co., Ltd. Real Estate Agents, [was established in i Christchurch in 1928 and [has specialised in leasing and selling ! commercial properties. -

P- i ' ■ • i ■ ■ Mr Bridge says- that; there, is a deman'd fori .office space, especially in[ Rjiccarton and other; areas bordering the: city’s: cen-j itral business district, I | "Here, rentals can be. down by as much las 50 :per cent and the <~new- i modern offices I offer,: ample-“parking space.” ■ i I j Beaiey Park is one in- , Iteresting development just bbyoncl the city centre?.' Situated on th'e corner of ißeale's; Avenue and: Bar-> badoes. Street! it is the i' South Island's first office bark. L • 7 |, : | "It ;! features low-rise

4 . 4 ! [ ' I | - ■ : buildings ip a park-like environment with -plenty of parking!” !Mr[. Bridge says. I; ( I I! . -1 ; The: development is by Archibald and Govan, and M. B. Cook' acts as the sole leasing agents. "The ninje buildings in the park are being .built in two stagesjjand stage: tw'o = isj almo'st: completed. park ' is - already fully leased- withj about 60- per cent ; being for . Government ! offices.” I ; I 1 Another cievelopmeint js the Riccarton i :Business Park in Mandeville Street. :At present, jthree buildings

are being constructed for particular tenants and two more jare being negotiated. ;■ j ; ' i | “This development will provide showroom space along with offices, warehouses! and light manufacturing,” Mr Bridge §ays. . , The Riccarton Business Park has ready access to' the city |S 'major transport links and its immediate neighbours ! include the Canterbury I i Building Centre, Placemakers, Forest N.Z. Optical, Lundia New Zealand and Nashua ! Office Products. it is; also close to a number l of quality hotels and shopping malls. Close to the central city, Nat West house in Cashel Street is one of the interesting glass buildings which have; appeared in Christchurch during recent months. It has a distinctive j octagonal shape irnd is 10 storeys tall. .; Nat West House is being leased $y M l . B. Cook for its Dunedin owners., I Mr Bridge says that ■there ife .a | demand for industrial space in new areas isuch las Birmingham Drive, j "We 'nave been involved in a number of Birmingham Drive sites including A.W.A.J Autoparts, and New’ Zealand Steel.” : Many; office, and industrial {developments are constructed 'under a design/biiild scheme which is offered by M. B. Cook. This arrangement enables clients tjo design t ieir own buildings to their specific requirements. "Some of the Birmingham Drive developments have , beenconstructed under' this scheme,” Mr Bridge bays. Looking to the future; Mr Bridge believes there is somb justification in being optimistic about the demand; for building space in Christchurch.