An ongoing shortage of industrial land is expected to drive strong demand for remaining lots for sale at Whanganui’s fastest-growing industrial hub.
Multiple freehold sites have been put up for sale at the Westbourne Industrial Estate in Castlecliff.
With nearly half of the 24 lots at Westbourne already sold or under contract, Bayleys Salesperson Russell Duggan expects keen buyer interest in the remaining land driven by businesses’ desire to relocate or expand into the new estate.
“With industrial vacancy sitting under 2 percent across the city, prime industrial land for development in Whanganui is as highly sought-after as it is rare,” said Mr Duggan.
Remaining land parcels at the Westbourne Industrial Estate, 20 Mill Road, Castlecliff, are being marketed for sale by negotiation through Bayleys Whanganui.
Mr Duggan said a variety of land options were available so businesses could secure the amount of land they need for their specific requirements. Available sites range in size from about 2,000 square metres to over 9,600 square metres.
“Westbourne Industrial Estate presents options for a variety of occupiers and developers at competitive rates. Sites purchased to date have typically sold for between $200 and $230 per square metre.
“Each lot comes complete with infrastructure and services to the boundary and is sold subject to subdivision and resource consent and issue of title. This is expected to be issued by late January 2022,” Mr Duggan said.
The land for sale is part of the Industrial (7A) zone under Whanganui’s district plan, permitting most industrial activities.
“The area is already home to a good mixture of occupiers and operations including warehousing and storage facilities, manufacturing and large-scale industry, as well as new operations looking to begin construction in the next six to 24 months.
“Indications are that more will follow as this fresh industrial hub continues to expand.
“The hub is anchored by nationally recognised occupiers and all parcels of land in the adjacent development are under offer or contract,” said Mr Duggan.
Established national occupiers include CP Wools, Parkwood Doors and Wight Aluminium. Alongside them are regionally-recognised operators such as Sharp As Haulage, Sort It Out Landscaping and Castlecliff Health.
Mr Duggan said industrial operations in the area benefited from its convenient location a short distance from the city centre, logistics hub and Whanganui River Port, along with highway connections to major centres to the north and south.
“With a lack of commercial and industrial land and properties in Whanganui’s main industrial precinct, Mill Road has become the place to be for new developments, relocating businesses and to service the expansion of the industrial sector.”