One of the last remaining industrial development sites in Waikato’s most sought-after industrial pocket has been placed on the market for sale amid intense owner-occupier demand for premises across the region.
The bare land site at Lot 57, Te Kowhai East Road in the popular commercial and industrial hub of Te Rapa provides 7,942sq m (more or less) of industrially-zoned development land, with easy access to major transport networks, including State Highway 1 and the new Waikato Expressway.
Bayleys Hamilton salesperson Jordan Metcalfe says that as Hamilton’s fastest-growing industrial area, the precinct forms a vital part of the Golden Triangle economic powerhouse, which contributed circa 52 percent of national GDP in the year to March 2021.
“Nationally, there is a shortage of viable industrial development sites, with tight availability being felt acutely across the Waikato, which as part of the Golden Triangle, is the most productive import and export corridor in New Zealand,” Metcalfe says.
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“In the 12 months to March 2021, more than half of all industrial building consents were issued for properties within the golden triangle of Auckland, Waikato and Bay of Plenty, adding economies of scale and ease of development in the area.
“Developers and owner occupiers are utilising current market conditions to seek well-located sites with underlying land value from preferable zoning, and value uplift from development potential.”
Metcalfe says the site is one of the last remaining bare land sites ripe for development within the newly developed region of Te Rapa.
He is marketing the property for sale with Bayleys colleagues Rebecca Bruce and David Cashmore.
The property will be auctioned at Bayleys Hamilton’s auction rooms at noon on 29 September 2022, at 96 Ulster Street, Hamilton.
Bruce says Waikato’s industrial sector has been leading non-residential building development activity, fueled by rapid growth in the e-commerce sector and the associated demand for logistics premises.
“Bare land opportunities are becoming rare as hen’s teeth as demand from industrial occupiers, buoyed by the halo effect from Auckland, continues to soar.
“The property, situated at the northern end of Te Rapa, is surrounded by some of New Zealand’s most high-profile businesses, including heavy equipment supplier Porter Group, NZ Post’s recently acquired Fliway Transport, national wholesale grocer Bidfresh, and transport and logistics giant Mainfreight.
“Proximity to such major operators begets a high level of demand from businesses wanting to expand and grow, which contrasts against a chronic shortage of industrially zoned land to underpin value growth."
Bayleys Waikato’s commercial director David Cashmore says Te Rapa’s recent expansion has been tremendous as new industrial development ploughs ahead, owing to a preferable position north of Hamilton with simple access to motorway connections to Auckland and Bay of Plenty.
“The rapid uptake of new industrial subdivisions along the city’s northern boundary has been astounding with some 60ha of land nearly sold out,” Cashmore says.
Cashmore says properties within the precinct will benefit from substantial local development, particularly as earthworks are underway at the Ruakura Superhub – a 30 year project alongside the Waikato Expressway, which includes an inland port.
Tainui Group Holdings is developing the project in a joint venture with the Ports of Tauranga.
“Set to contribute more than $5 billion to the local economy once fully developed, the project will provide an add-value proposition for the broader region.
“Surrounding properties will benefit from improved accessibility to freight and logistics lines, as well as a significant new residential catchment and a strengthening local economy.”
- Article supplied by Bayleys
