Two substantial landholdings within the Spedding Road industrial estate in the NorthWest of Auckland are available for sale and offer owner-occupiers the opportunity to secure their own site for their future operations.
Measuring 1ha and 1.25ha respectively, the sites are part of the strategically located 46ha Spedding Road development, known as Spedding, that has recently been rezoned to Business – Light Industry Zone under the Auckland Unitary Plan following an extensive private plan change process.
Infrastructure, roading, and site establishment works are being done and earthworks are expected to begin shortly with titles likely to be issued in the first quarter of 2025.
The development of the super site will lead to convenient connectivity to the surrounding motorway network meaning future occupants will be able to use State Highway 16 and 18 with ease, greatly enhancing their productivity.
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The Light Industry zone is the prevalent industrial zone in Auckland, and provides for a range of land uses, including manufacturing, production, logistics, storage, transport, and distribution activities to name a few, meaning there is vast potential for a range of prospective occupiers.
Colliers recently brokered a deal for Property for Industry Limited to purchase approximately 5.8ha of land spread across two lots on the western side of the estate.
Colliers Directors Josh Coburn and Blair Peterken are selling the subject sites via negotiation.
The West Auckland region has experienced notable growth in a range of industries during the past decade alongside substantial increases in its residential population.
Stats NZ tracked the area’s population as 311,636 in June 2022, up from the 282,129 noted in the 2018 New Zealand Census.
Residential developments in Red Hills, Westgate, and Hobsonville Point have all contributed to this growth.
There has also been major investment from retail businesses and the area is home to the first Costco in New Zealand, which opened last year to much fanfare.
Large-scale industrial occupiers are also prevalent, owing to the opportunity for expansion.
Coburn, Director of Capital Markets and Site Sales at Colliers, says these sites will generate huge demand among buyers given the scarcity of available industrial land across the city.
“Research from Colliers notes that industrial vacancy rates are at 1.7 per cent across Auckland and that rate has held below 3 per cent since August 2013, despite inventory increasing by more than 1.5 million square meters, indicating the strength of demand for industrial property in the city,” Coburn says.
“Rarely do sites of this scope with so much potential present themselves to the open market and forward-thinking organisations will have the opportunity to acquire a significant landholding to develop to suit their needs.
“This level of flexibility will be appealing to businesses who would then not be bound to future lease agreements and would have greater control over their future.”
Peterken, Director of Capital Markets at Colliers, says the ongoing infrastructure improvements to West Auckland have added to its desirability as a place to operate a business from and Spedding is the perfect platform.
“Vendors Oyster Capital are highly experienced land developers with an intimate knowledge of the local area following their work on the nearby housing development on Brigham Creek Road,” Peterken says.
“Everything you would want in terms of amenities is sitting on the doorstep of this location, including Costco, Bunnings, Harvey Norman, and the Westgate Shopping Centre, among a host of other retail and hospitality offerings.”
- Article supplied by Colliers
