With the industrial sector continuing to outperform the market on a number of key metrics, an almost development-ready site in Auckland’s Northwest with scale, prime road front sections. and strategic locational advantages, is expected to attract buyer attention.
The 3.76ha (more or less) parcel of land at 10 Te Ahurea Street, Hobsonville has Business – Light Industry zoning which allows for a broad range of activities including manufacturing, production, logistics, storage, transport, and distribution.
It is one of the last available development sites in the invigorated Hobsonville area and is well-positioned to benefit from proposed roading initiatives that will provide direct arterial links to the evolving Whenuapai precinct.
The landholding, which has been in family ownership for some time, has a proposed 10-lot subdivision scheme in place with sites ranging in size from 1,700sqm – 5,033sqm and the consent process is well-advanced.
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The property is being marketed by Marty van Barneveld and Quinn Ngo of Bayleys, with tenders closing 4pm, Thursday 8th June.
Van Barneveld said having already been through the lengthy process of designing scheme and infrastructure plans, the vendors are now seeking a new owner to take the reins and see the project through to completion.
“Our understanding is that approvals are forthcoming, allowing a buyer to step in and leverage the vendors’ progress to date,” he said.
"Due process with Council is progressing, and a clear path forward has been identified with some preliminary earthworks already undertaken, including levelling most of the site.
“The work completed so far, both behind the scenes and on site, means a new owner could take the coming months to finalise plans and then take advantage of the potential softening of contractor pricing before earthworks season later in the year.”
Given the shortage of land region-wide, van Barneveld expects to field enquiry from more established development entities that have been quietly waiting for an opportunity to secure land in the Hobsonville precinct, to cater for relentless demand for industrial space.
“Many developers will have been keeping their powder dry until the economic climate settled somewhat and with commentators now saying that interest rates have peaked, we’d expect to see more action in the development space.
“The existing 10-lot scheme plan should not limit the potential options for the landholding and as such, large owner-occupiers could also consider this site to build premises for their own operation, before on-selling smaller titles on the balance of the land.”
The Te Ahurea Street land lies within the A-grade Hobsonville commercial precinct, with neighbouring businesses including Bidfood, National Mini Storage, Mainfreight and Makita.
The identified growth node of nearby Whenuapai and infrastructural initiatives to enable development there, underpins the value of the subject land.
“Auckland Transport is currently reviewing proposals to extend and connect Spedding Road in Whenuapai across the motorway and onto Te Ahurea Street,” said van Barneveld.
“This would create a seamless connection between the two commercial precincts and enable streamlined public transport links, and further supports the fact that Northwest Auckland is one of Auckland’s fastest growing regions and is a key focal point for Council.
“The anticipated arrival of 80,000 residents in the Northwest by 2040 is expected to boost the labour pool in the surrounding catchment area by an estimated 20,000 employees, highlighting the value proposition of 10 Te Ahurea Street as a strategic investment opportunity.”
The subject land is 20km northwest of Auckland CBD, 7km from Albany, and the Western Ring Route interchange is 2km away, providing a direct link to the Waterview Tunnel, CBD and North Shore.
- Article supplied by Bayleys
