Stage two of the Spedding Industrial greenfield development in Whenuapai is being released to the market for sale.
The initial launch in late 2023 drew considerable interest leading to $130 million of sales and contracts, leaving only 21ha of land available for purchase.
Sitting adjacent to the fast-growing area of Westgate in Auckland, the industrial development at Spedding Road encompasses 46ha of land bound by Brigham Creek Road to the north, State Highway 16 to the south-west, with Whenuapai airport to the east, and State Highway 18 to the south.
With earthworks almost complete, the site is a hive of activity and further infrastructure developments are continuing to take place, which will enhance the connectivity and accessibility of the location.
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Oyster Capital is leading the development of the site and they have a proven track record of delivery in the north-west of Auckland.
As well as making improvements to the surrounding roading network and pedestrian and cycle links, they are committed to the preservation of natural wetlands in the area through riparian planting along the Sinton Stream and Totara Creek.
Oyster Capital's Director Cameron Wilson believes significant infrastructure upgrades will help unlock future development potential in a region experiencing high growth.
"Spedding Industrial is well placed for both north and southbound travel that circumnavigates the Auckland Harbour Bridge," Wilson says.
"The transport upgrades we are undertaking in the delivery of this project will significantly improve the area's connectivity to the rest of Auckland and has underpinned the strong demand we have seen from current and prospective purchasers."
The land is being marketed for sale by Colliers Directors Josh Coburn and Blair Peterken via negotiation.
Auckland has been starved of industrial land developments in recent years, so this new offering has been welcomed by industry. The site has been rezoned to Business - Light Industry Zone under the Auckland Unitary Plan following an extensive private plan change process.
Coburn, Director of Capital Markets and Site Sales at Colliers, says the second stage of the land release offers flexibility for buyers with the owner-occupier sector showing strong interest.
"A lot of our inquiries have come from North Shore-based businesses where land and large buildings are scarce. Given the ring road nature of State Highway 16 and 18 and the unparalleled access that Spedding Industrial offers to each of them, it makes a move to the north-west area of Auckland a very sensible transition," Coburn says.
"Until the site has been sold down, there remains the capacity to tailor the boundaries of the lots to perfectly accommodate future occupants. Titles are expected to be issued next year."
Research from Colliers highlights the lack of industrial space across Auckland with the most recent data pointing to an overall vacancy rate of 1.75 per cent for industrial floorspace.
Nearby precincts to the Spedding Industrial development include Henderson, which has a prime industrial vacancy rate of 0.4 per cent and Rosebank/Avondale where there is next to no available prime space.
The tightly held North Harbour hub also has a prime vacancy rate of only 0.4 per cent, underscoring the demand for industrial space on the North Shore and in West Auckland.
Peterken, Director of Capital Markets at Colliers, says the area surrounding the Spedding Industrial development continues to rapidly evolve.
"There are a number of popular residential developments that have taken shape across West Auckland during the past few years, including in Whenuapai, Red Hills, and Westgate, which are considered key growth areas by Auckland Council as part of their long-term plan," Peterken says.
"To complement the residential growth there will be an increasing need for more commercial services and Spedding Industrial is perfectly positioned to provide businesses with an opportunity to secure a stake in Auckland's next major industrial development.
"With notable commercial brands establishing themselves in nearby Westgate such as Costco, Harvey Norman, and Bunnings, among a host of other retailers and amenities, now is the time for industrial operators to secure their place in the Spedding Industrial development."
- Supplied by Colliers
