For more than 25 years Cavell Leitch has shared an immensely valued working relationship with Simon Henry, one of Christchurch’s largest industrial property investors, and his Rapaki Property Group. During this time Cavell Leitch has assisted Rapaki with the acquisition, development and leasing of a number of commercial and industrial sites in Christchurch, (including the former IRD building), Wellington and Auckland
Some of Rapaki’s most recent projects that Cavell Leitch has assisted with include:
Belfast Business Park: Rapaki is currently completing the development of the 60 hectare industrial development Belfast Business Park in north-west Christchurch which will have an estimated end value of $400 million (http://www.belfastbusinesspark.co.nz/). Around 80% of the available sections at the Park have now been successfully sold down. Rapaki’s General Manager, Brendon Stewart attributes this to the Park’s quality and its accessibility to the new Northern Corridor motorway. Purchasers are now being welcomed to express interest in the final stages which are now underway.
Cavell Leitch assisted Rapaki with the preparation of the initial sale and purchase documentation and the completion of detailed due diligence investigation of all aspects of the property, before working alongside the client and its financier through to settlement. Following the completion of the purchase we have assisted with the subdivision of both the northern undeveloped and southern developed blocks of the land, and the subsequent sale or leasing of the resulting titles.
Cavell Leitch has also helped Rapaki tailor specific design-build contracts for purchasers who do not have the time or experience to complete an industrial build themselves. A recent successful example has been the completion of Winstone Glass’s new premises at Belfast Business Park.
BOC Gas Plant: In September 2017 Cavell Leitch worked with Rapaki on the negotiation, investigation and acquisition of BOC Gases Limited’s large industrial complex in Epsom Road. We assisted with the preparation of the documentation associated with the partial lease-back of the site to the vendor, and the subsequent subdivision and sale of part of the property to a third party. Rapaki is currently considering its future options for the remainder of the strategic 4.6 hectare piece of industrial zoned land in the tightly-held Sockburn area.
Independent Fisheries site: Cavell Leitch has assisted Rapaki with the investigation and acquisition of the Independent Fisheries’ Woolston plant, due to settle later in the year. Cavell Leitch were instrumental in negotiating the terms of Independent Fisheries’ lease back of the majority of the site. Rapaki intends to bring several of the site’s smaller titles to the market shortly, and purchasers are invited to register their interest now.
“We enjoy a harmonious yet professional working relationship with Cavell Leitch” says Brendon Stewart. “The synergy of their technical skills and our property aptitudes has produced positive outcomes for us and our customers”.
Cavell Leitch prides itself on working alongside our clients to deliver tailored, timely and cost-effective legal advice alongside an outstanding level of service. Please do not hesitate to contact one of our property team’s experts if we can assist you with your next project.
Copyright © Cavell Leitch. All rights reserved. Redistribution is only permitted with express written permission. For enquiries please contact us. This article by its nature cannot be comprehensive and cannot be relied on by clients as advice. It is provided to assist clients to identify legal issues on which they should seek legal advice. Please consult the professional staff of Cavell Leitch for advice specific to your situation.