A significant landholding in Hastings that has considerable development potential offers developers, investors, or owner-occupiers the opportunity to acquire a large-scale site for their next major project.
1170 Maraekakaho Road, Longlands in Hastings measures 9.49ha and comprises approximately 5.01ha of Industrial zoned land and 4.47ha of land that is zoned Plains Production.
The total holding is under a single freehold title and is one of the last remaining large, undeveloped parcels within the highly sought-after Irongate industrial area.
The property is perfectly suited for a noteworthy development that could enhance the surrounding area and has favourable proximity to the Hawke’s Bay Expressway, providing access to various other parts of the region.
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It allows for immediate commencement of construction as it already boasts access, services, and a title, which sets it apart from other large greenfield sites.
One key drawcard is the site comes with a consented truck wash, which can be hard to obtain, and a highly functional 5,500sq m of hard-packed shingle yard space that will prove incredibly useful for future occupants.
The location boasts an array of blue-chip neighbours, including Balance, Waipak, Tumu's, Hilton Haulage, and Rockit, further enhancing the site's appeal and potential.
Colliers Hawke’s Bay Brokers Jack Hughes and Danny Blair have been exclusively appointed to market the property for sale by tender, closing at 4pm on Wednesday 24 May, unless sold prior.
Hughes, Sales and Leasing Broker at Colliers Hawke’s Bay, says the sheer size of the landholding means it is well placed for a large-scale development.
“It is rare to see sites of this size brought to the market, but it will be highly appealing for buyers who will recognise the potential on offer,” Hughes says.
“The contour and shape of the site means it is perfectly positioned to be transformed into a sizeable transport, logistics, or industrial offering.
“The Industrial zoning is incredibly helpful for prospective purchasers as it offers tremendous flexibility for any future usage.
“The property also has the potential to be positioned as a cool store facility, which would be sought-after in the local area given the prevalence of horticulture in Hawke’s Bay, one of the bedrocks of the local economy.”
Blair, Director at Colliers Hawke’s Bay, says the access to the property from Maraekakaho Road is convenient.
“While there is no profile to the main road from the property, it means it is away from the hustle and bustle and offers privacy for the occupants,” Blair says.
“With the motorway network nearby, the Hastings CBD is only 4.2km away, while the Hawke’s Bay Airport can be reached in approximately 20 minutes.”
Blair says buyers with a long-term view of the property could unlock further value in the future.
“There is potential that surrounding land could be rezoned down the line, which will allow the industrial hub of Irongate to flourish even further.
“Properties of this nature that offer such flexibility and scale remain highly desirable for buyers given the growth potential on offer. The fact that any future development could begin immediately as the services are in place is another important selling point.”
- Article supplied by Colliers
