A prime site in Hamilton’s tightly held Te Rapa industrial precinct presents buyers of all kinds with the opportunity to secure a strategically located landholding for their next development.
38-44 Karewa Place, Te Rapa is a flat contoured freehold site that spans approximately 1.9411ha and is zoned Industrial Zone under the Hamilton City Operative District Plan.
The property is surrounded by a range of modern buildings and high-profile brands, including Countdown and Kmart, while The Base Shopping Centre is approximately 500m away.
With more than 100m of road exposure, there is significant profile attached to the site, which also offers easy street access for future occupants.
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Colliers Hamilton Director Alan Pracy has been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday 18 May, unless sold prior.
Situated in the heart of the North Island’s ‘Golden Triangle’ of Auckland, Hamilton, and Tauranga, Hamilton is within 140km of both of New Zealand’s main seaports in Auckland and Tauranga and approximately 50 per cent of New Zealand’s population resides within these parameters.
With an estimated population of 179,900 according to Infometrics, Hamilton is one of the fastest growing cities in New Zealand.
Industrial sites in Te Rapa are highly sought-after by occupiers, developers, and tenants given the favourable nearby motorway access, which links them to Auckland and the Franklin region.
Blue-chip operators in Te Rapa include Steel & Tube, Downer Group, and Firth Industries, among a host of others.
The adjoining sites to the subject property are consented for a wide spread of uses, including retail and industrial.
Pracy says the property is perfectly positioned to be developed and offers potential for a large variety of future uses.
“We have a motivated vendor who has instructed us that they want this land sold,” Pracy says.
“The level nature of the site means it is incredibly versatile and the opportunity to acquire a landholding of this size is rarely seen in Te Rapa, where industrial land remains keenly sought due to the outstanding access to key transport networks.
“This site could be the future home for an owner-occupier who wishes to own their own premises and avoid being constrained by a lease, while developers could seize the opportunity to construct a new building and lease it out.”
Pracy says Hamilton holds appeal for businesses looking to take advantage of the area’s growing population.
“Late last year Hamilton City Council released a report that noted the growth of the city that included an 8 per cent growth in population from 2017 to 2021, a 15 per cent increase in GDP for the area, as well as a 12 per cent increase in jobs.
“These figures were all ahead of the national averages and shows Hamilton has come through the Covid-19 pandemic with a positive outlook for the future.
“The manufacturing sector made up 10 per cent of the city’s GDP and employment, and the subject property can be utilised for further development in this thriving industry.”
Pracy says when examining all of the pertinent factors, this site provides a premium purchasing opportunity.
“It is rare to see a site of this size and versatility become available in Te Rapa.”
- Article supplied by Colliers
