The large warehouse premises housing New Zealand’s top wool exporter have gone up for sale in a leading Hawke’s Bay industrial hub.
The nearly 9,000-square-metre complex sits on an approximately 1.17-hectare freehold site in the Whakatu industrial area, between Hastings and Napier.
Centred on a high-stud, single-span main warehouse, the property is home to New Zealand Wool Services International (WSI).
Since its establishment in 1991, WSI has firmly established itself as the country’s leading exporter of wool, with an annual turnover of $200 million. The Christchurch-headquartered business has international offices in China and India. Its scoured wool products are marketed around the world under respected brands such as Purelana and Red Band.
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WSI is part of the Lempriere Group, one of the world's largest wool merchants and processors with a reputation built over 150 years during which it has sourced and processed wool for textile mills and fashion houses across Europe, Asia and North America.
The business occupies its Whakatu premises on a current lease that runs through to 2027 with a further three-year right of renewal – generating an annual net rent of $400,000 plus outgoings and GST.
A further small monthly lease to Napier Wool Storage generates an additional $5,000 plus GST per annum.
The freehold land and buildings at 43-45 Johnston Way, Whakatu, Hastings, are being marketed for sale by Rollo Vavasour of Bayleys Hawke’s Bay.
The site will be sold by private deadline treaty closing on Thursday 28 November, unless it is sold prior.
Vavasour said the single-storey industrial complex comprised several buildings constructed from the late 1970s to the early 2000s.
“Together these provide multiple warehouse spaces, an office/administration area, amenities, and a small shop.
“The main building was constructed in 2004. This spans some 5,734 square metres, encompassing a large high-stud, clear span warehouse with roller door access and a sizeable canopy.
"This building is constructed with concrete block foundations and concrete slab flooring, steel portal framing, and Colorsteel exterior sheathing. Colorsteel roofing is interspersed with perspex, providing the interior with excellent natural light,” Vavasour said.
Positioned around seven kilometres northeast of central Hastings, the site sits within the General Industrial zone under Hastings’ district plan.
Vavasour said this zone offered flexibility over future uses and was popular for both local and out-of-region investors.
“The Whakatu industrial area is sought after by operators and investors due to its central location and accessibility to key transport networks to service the region and beyond.
“Nearby properties along Johnston Way and Rangitane Road are home to large, modern warehouse buildings and the area continues to evolve.
"A number of industrial sections have recently sold. Some of these have been developed, or are being developed, with substantial warehouse/workshop buildings.
“Council planners have indicated no near-term appetite for expanding the industrial zone in Hawke’s Bay, and any expansion in the Whakatu area looks unlikely in the foreseeable future.
"Investors stand to benefit from ongoing demand for a relatively scarce supply of industrial property, particularly on the scale of the Johnston Way site,” Vavasour said.
- Supplied by Bayleys
