ACC Investments is making its largest-ever direct investment in the South Island through Ahumahi Property, a new industrial property development and investment company established in partnership with Ngāi Tahu Property and Carter Group.
Ahumahi Property brings together three strong balance sheets and the industrial development experience of Ngāi Tahu Property and Carter Group. It will operate as a standalone business, with each shareholder holding an equal one-third interest.
Ahumahi Property will initially develop approximately 200 hectares of land across three strategic Greater Christchurch locations at Pound Road in Hornby, Ryans Road near Christchurch Airport and Two Chain Road in Rolleston. Together, the sites have a projected value of approximately $700 million as developed, vacant industrial lots.
L-R: Ian Purdy, Head of Direct Property & Infrastructure, ACC Investments; Tim Carter, Carter Group; Phil Mauger, Mayor; Justin Tipa, Kaiwhakahaere, Te Rūnanga o Ngāi Tahu; Philip Carter, Carter Group.
These three developments will form the foundation of Ahumahi Property’s South Island portfolio, with the company actively seeking other significant industrial property opportunities across the South Island.
Over time, Ahumahi Property envisages building an industrial property fund with an estimated completed value of approximately $1.5 billion.
Carter Group’s Philip Carter says the company welcomes the opportunity to establish a meaningful partnership with ACC Investments and Ngāi Tahu Property, with all three organisations sharing a long-term investment horizon and confidence in the prospects and growth potential of the South Island.
He says the initiative also responds to strong underlying demand over the past four to five years for more industrial land and modern facilities across Greater Christchurch, particularly in the west and south-west, where the supply of large, serviced and well-located sites has remained constrained.
“Ahumahi Property’s developments will create significant new employment and investment opportunities. Bringing the three organisations together gives us the scale and investment strength to pursue opportunities that would be difficult for any one of us to undertake alone,” Carter says.
Ahumahi Property will offer serviced industrial land for sale alongside purpose-built premises for lease, some of which will be retained as long-term investments. Plans currently provide for around 315 industrial lots across the three locations, catering for businesses ranging from smaller owner-occupiers to major logistics, warehousing and industrial operators.
Two Chain Road is already zoned for industrial use, while Pound Road and Ryans Road have received fast-track approvals for industrial subdivision and development. The three locations are well connected to major road, rail and air freight infrastructure.
Pound Road is in Christchurch’s established south-west industrial corridor, Ryans Road adjoins Christchurch Airport, and Two Chain Road adjoins the South Island Main Trunk Railway and is the proposed 98-hectare South Island intermodal freight hub at Rolleston, which is intended to improve connections between road and rail freight networks.
ACC Chief Investment Officer David Iverson, says the investment reflects ACC’s long investment horizon and its confidence in the South Island’s long-term growth prospects.
“This is a significant, long-term investment in high-quality industrial land and property, alongside two partners with deep development experience and a strong commitment to the South Island,” Iverson says.
“The partnership gives Ahumahi Property the financial capacity to invest at scale, respond to the needs of major tenants and build a substantial portfolio over time.”
Justin Tipa, Kaiwhakahaere of Te Rūnanga o Ngāi Tahu, says Ahumahi Property reflects the long-term approach Ngāi Tahu takes to investment.
“As an iwi, our approach to investment is driven by our commitment to protecting and growing the resources that enable us to fund tribal initiatives and programmes for our people, and to the generational development and prosperity of communities here in Te Waipounamu. Partnerships like this create a level of scale, expertise, and shared vision that strengthens our ability to deliver on that mission, while also contributing to the growth of the New Zealand economy.”
“Ahumahi is a strong example of New Zealand-based capital coming together to support long-term growth and invest in the future of our communities and regional economies.”
Selwyn Mayor Lydia Gliddon says the partnership is a significant vote of confidence in Selwyn and the wider Canterbury economy.
“This is exactly the kind of well-funded, long-term investment needed to support Selwyn’s growth and create more opportunities for businesses and jobs,” Mayor Gliddon says.
“The Two Chain Road development also adds momentum to the proposed South Island intermodal freight hub, helping create a more efficient freight network with benefits extending well beyond our district.”
Christchurch Mayor Phil Mauger says the investment reinforces Greater Christchurch’s position as one of New Zealand’s strongest and fastest-growing economic centres.
“Making more well-located industrial land and purpose-built premises available will give businesses room to grow, attract further investment and support new jobs. It will also strengthen Greater Christchurch’s role as the South Island’s freight and logistics hub.”
The first serviced industrial sites are expected to be available from the second half of 2027, with development across the locations progressing in stages to meet market demand.
Further information for prospective purchasers and tenants will be released as planning progresses.
ENDS
Media Contact:
Erin Jamieson | Convergence Communications | 021 743 237
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