The final five lots available for development are up for sale in the 23-hectare Eastgate Business Park opposite Rotorua Airport offering an opportunity for owner occupiers, developers or add-value investors to establish a presence in one of New Zealand’s most successful business parks.
A total of 1.5791 hectares in five individual titles ranging from 1,825m² to 4,866m², is for sale by tender closing 4pm May 9, 2018 (unless sold prior). The adjoining lots are located on a level block of land, flanked by State Highway 30 (Te Ngae Road) on one side and Wahanga-A-Rangi Crescent on the other three sides.
“This prime piece of real estate has 23,000 vehicles on average passing it every day along SH30, the main road between Rotorua and Tauranga,” Bayleys Rotorua’s special projects manager Beth Millard who is marketing the property with Brei Gudsell. “Rotorua Airport is on the other side of the road and the Port of Tauranga and Rotoura CBD are within easy commuting distance.”
Millard says the vendor’s preference is to sell the land as one block, but tenders will also be considered for individual lots. She says the high-profile property provides excellent options and scope for owner occupiers to expand their businesses and if required the vendor, Eastgate Developments, can design and build premises to a purchaser’s requirements.
“Alternatively, the offering could also appeal to developers seeking a top location with an established track record and quality surrounding occupants, or to investors looking for opportunities to add value and perhaps with a tenant wanting high exposure to large volumes of passing traffic.”
The bare land sites are ready for development, subject to obtaining the necessary consents. All utility services and roading are in place – with a cul de sac providing access to the rear of all five lots.
Launched in 2001, Eastgate Business Park on Rotorua’s eastern arterial route has set the benchmark for the city’s commercial property sector, says Millard. “The multi-use business park has captured local and national attention with its innovative and versatile design concept and emphasis on quality.”
She says Eastgate Business Park was created to fulfil the need for much sought after commercial and industrial land, particularly for large operations. “The park originally established 22 individual sites with strict covenants to ensure the highest standard of development and to provide a quality working – and in some cases living – environment.
“They wanted to be able to accommodate heavy industrial businesses and occupants such as the NZ Fire Service which had unusual but very necessary requirements. However, mindful of the potential adverse environmental impacts that industries can create, Eastgate Developments focused on establishing a business park that was both environmentally and user-friendly.”
Millard says the park's high-profile location on SH30 opposite Rotorua Airport, 12 minutes from the CBD and en route to the Port of Tauranga, has been a major factor in its success as has its unique site-specific Business and Innovation 3 zoning. This allows for a wide range of uses including industrial, offices, retail, tourist accommodation and other commercial enterprises as well as residential.
“The effects-focused zoning means that, providing the activity does not adversely impact on neighbouring properties, the chances of gaining consents are very favourable,” says Millard. “The zoning gives wide scope for new or existing businesses to relocate and purpose-build from scratch to ensure a premium result is achieved that specifically addresses their needs. Commercial opportunities abound at Eastgate, which is evident from the diverse and interesting range of businesses and organisations that have chosen to base themselves there.”
The first company to secure a
site was coatings and aerosol manufacturing company Damar
Industries which has subsequently grown substantially. It
has developed a $46 million, state-of-the-art hazardous
substances handling and filling facility, the largest of its
type in the country. Spanning a three-hectare site, Damar
occupies approximately 16,004m² of buildings and has a
large vacant lot across the road for additional parking and
possible future expansion.
The country's only fire training facility occupies 11 sites at Eastgate while other occupants include Bidfood Foodservice, Storage King, Superior Storage, Fulton Hogan, Combined Road and Traffic Services, Techlight Limited, Checkmate Saws, bug control company Ecomist Systems and Mike Pero Mortgages. Fonterra has just built a nearby custom-made distribution centre in Wahanga-A-Rangi Crescent.
Eastgate Business Park also has 12 multi-use units, some of which have upper level apartments and storage below.
The creation of a dual lane roundabout at the southern end of the land for sale will enhance its value, says Bayleys Rotorua agent Brei Gudsell. It will provide additional, quicker access from SH30 into Eastgate Business Park for traffic travelling in both directions.
The roundabout will also link to Rotorua Airport providing enhanced airport access for Eastgate occupants. “The roundabout is very timely given Rotorua’s projected increases in traffic, tourism and freight growth,” says Gudsell. “It is set to be completed in advance of the location reaching a trigger traffic volume point of 2000 vehicle movements in and out per day.”