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Truck rental firm’s modern regional HQ and maintenance depot is for sale

The property within the Waterloo Business Park in the West Christchurch suburb of Islington is occupied by commercial vehicle hire firm O’Neill Rentals - owned by parent company North Harbour Rentals whose fleet have been hired for such big screen productions as Lord of the Rings, Avatar, Power Rangers and most recently The Power of the Dog.

The vehicle rental firm’s extensive commercial fleet encompasses furniture and household removal trucks, flat deck and HIAB trucks, curtainsider trucks, chiller trucks, vehicle transport trucks, tip-tray trucks, as well as vans, mini-buses, utes and trailers. For the movie sector, North Harbour Rentals supplies wardrobe and costume storage trucks, hair and make-up suites, camera and prop transporters, and container haulage trucks.

Auckland-based North Harbour Rentals bought out O’Neill Rentals in 2015 to expand its nationwide servicing capabilities. O’Neill Rentals was established in 1987. The company’s purpose-built Islington site features a vehicle maintenance and mechanical repairs workshop, along with a wash bay, staff amenities, and office space.

Sitting at the intersection of Commerce Crescent and Halswell Junction Road, the property comprises 683 square metres of high-stud open plan warehousing and adjoining office space sitting on some 5,183 square metres of freehold land.

Constructed in 2017 to a high standard, the building features precast concrete panels and long-run zincalume roofing surrounded by a fully concreted yard. Internally, the building comprises 414 square metres of workshop and wash bay areas, with a further 269 square metres of office space.

The freehold property at 23 Commerce Crescent in the Waterloo Business Park, Islington, is now being marketed for sale by deadline private treaty through Bayleys Canterbury, with offers closing at 4pm on Thursday, April 28, 2022 (unless sold prior). Salesperson Jeremy Speight said the property was being offered as a sale-and-leaseback opportunity.

North Harbour Rentals/O’Neill Rentals will be signing a new 10-year lease at the site, which will become operative when the property sale is settled. The lease will be for $250,000 per annum – with annual rent increases linked to the Consumer Price Index, and market rent reviews every four years. The lease will include a further 10-year right of renewal.

“The site and infrastructure deliver everything the tenant seeks for its Christchurch-based operations. The fully-fenced corner site delivers high visibility – with O’Neill’s fleet parked around the perimeter to not only showcase the range of vehicles available to hire, but also to subliminally cement itself in the minds of passing future customers,” said Speight.

“Dual access points off both Commerce Crescent and Halswell Junction Road deliver an efficient through-flow of vehicles. Meanwhile, the central position of the workshop with its three 5.5-metre-high roller doors, and adjacent wash bay, allows for vehicles to be discreetly housed for repair or maintenance work.

“The north-facing offices are located over two levels – with a public reception area on the ground floor facing onto the covered portico. The upper floor contains more offices, as well as a boardroom, while a separate mezzanine extends into the workshop.”

Waterloo Business Park – some 16 kilometres west of Christchurch’s central business district and close to the industrial precincts of Hornby and Wigram – has been developed over the past 10 years, and now houses a vast array of variously-sized tenancies across multiple business sectors.

The O’Neill Rentals yard and offices sit on the route directly linking Islington with the Christchurch CBD via the southern motorway extension. Accessibility is expected to further improve with the arterial route extension planned between Hornby and Waterloo Business Park.

“That ease of motorway access enables O’Neill Rentals to efficiently service a large proportion of private clientele coming from all parts of Christchurch,” said Speight.

“With corporate and local body council clients stretching from Nelson in the north to Invercargill in the south, State Highway 1 access is also critical.”

Click here for more information on the listing.

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