A large industrial landholding with scheme plans for an eight-lot subdivision and dairy plant dubbed the ‘Pōkeno Nutritional Park’ has been placed on the market for sale as competition for Auckland industrial space intensifies, driving occupiers south in search of value.
The consented industrial development on 4.8ha of freehold land at 30 Yashili Drive is positioned in a key dairy processing precinct adjoining leading infant formula producer Yashili New Zealand’s state-of-the-art manufacturing plant, and nearby Synlait Milk’s recently completed $260 million facility.
Bayleys South Auckland salesperson Shane Snijder says a shortage of favourably zoned industrial development land within the Golden Triangle zone of Auckland, Hamilton and Tauranga has weakened the supply pipeline, creating competitive bidding on a limited collection of available properties.
“The subject property represents the only large industrial lot available for sale in Pōkeno and is expected to attract strong interest from various buyer groups, including developers, add-value investors, land bankers and owner-occupiers which are finding large, cost-effective industrial land with favourable zoning credentials more challenging to identify.
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“Future and continuous population growth for Pōkeno and the South Auckland region – which services a huge catchment area encompassing North Waikato and the booming Drury precinct – is a critical buoy for the area, attracting both public and private sector investment.”
Snijder is marketing the property at 30 Yashili Drive for sale by a tender process with Bayleys colleague Tommy Zhang, closing at 4:00 pm on Thursday, 14th March 2024 (unless sold prior).
The development-ready landholding is zoned Business – Light Industrial and adjoins a Residential – Living zone at Flannery Road.
Zhang says developers may choose to complete the eight-lot subdivision and proposed dairy factory, or look to undertake a more intensive development project, capitalising on the strong appetite for industrial accommodation.
“Estimates reflect the need for 700,000sq m of new floorspace every year if we are to meet the demands of the current level of migration, yet a shortage of favourably zoned industrial development land in Auckland presents a challenge to delivery.
“Given current supply constraints, more businesses are shifting operations to Auckland’s southern boundary, which is having a spillover effect into North Waikato, where meaningful development is taking place to accommodate the needs of a growing population.
“Pōkeno is in an ideal position for businesses serving Auckland, Waikato and the Bay of Plenty, given its strategic location at the crossroads of State Highways 1 and 2.
“With direct motorway access to Auckland, the Ports of Tauranga, the new inland port at the Ruakura Superhub, and the Auckland Airport logistics precinct, businesses in the primary industries sector – including international juggernauts Synlait Milk, Yashili New Zealand continue to commit to the area.
“Confidence is underpinned in major planned works, reflected by Fisher & Paykel’s recent acquisition of 104ha in nearby Karaka for $275 million to future-proof its research, development, and manufacturing operations.
“The business, like many others, has outgrown its East Tāmaki facility and spread south in search of suitable accommodation to achieve its growth objectives.”
Zhang says that substantial logistics hubs have emerged nearby at Hamilton’s Ruakura and Horotiu, leveraging the infrastructural benefits of inland ports and freight rail connectivity.
“With circa $2.4 billion in Government funds committed to local infrastructure, the subject property provides a significant opportunity for purchasers, including land bankers, developers, owner occupiers and add-value investors, to position themselves to capitalise on the next tranche of local investment.”
- Supplied by Bayleys
