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Vast Lower Hutt development site goes on the market
Media Release
30.9.2016
Vast Lower Hutt
development site goes on the market in receivership
sale
A large chunk of undeveloped land on the edge of
Lower Hutt’s commercial and industrial precinct has been
placed on the market for sale through a receivership
process.
The 2.2 hectare flat triangular site in Waiu Street comes under a general business zoning – allowing for the construction of commercial, industrial, or warehousing premises. The land is adjacent to the Wainuiomata Mountain Bike Park.
The site was formerly owned by a land development contracting firm which used it as a land-fill site over a number of years before being placed in receivership. The land is being marketed for sale by Bayleys Wellington salespeople Mark Walker and Paul Cudby through a tender process closing on October 26.
Mr Cudby described the plot as the biggest undeveloped site of its type in the city.
“Under council regulations, the site can operate as one ‘mega’ premises or yard, or could alternatively be subdivided into sections as small as 200 square metres,” Mr Cudby said.
Tucked in an elevated position behind a row of large warehousing units and smaller light industrial business premises, the vacant land has access off Waiu Street at the southern end of town. Mr Walker said there were multiple permutations for any future owner considering subdividing the land.
“Sitting as it does behind several existing large warehousing premises, a number of sections could be easily configured to add to those existing buildings, or adding additional space to the rear of the operations,” he said.
“Alternatively, a commercial office park or terraced light industrial unit development could be established. Hutt City Council has expressed a willingness to discuss development options with any new purchaser with a view to encouraging employment and growing commerce in the city.”
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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