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Compact Industrial Site Provides Rare Design-and-build Opportunity In Fast-growing Regional Hub
An undeveloped, flat land site on the corner in one of Hawke’s Bay’s fastest-growing industrial precincts has been placed on the market for sale – complete with plans for a modern factory premises and offices.
The 6,769sqm (more or less) landholding comprises a buildable area of 5,428sqm (more or less) located in the Hastings precinct of Longlands.
Longlands lies within the wider Irongate industrial hub – an emerging area southwest of the city earmarked specifically for growth by the Hastings District Council.
“Recognising the value of industrial output to the local economy, the council recently lowered development contribution charges for developers seeking design-and-build opportunities. This is a pro-business move which has attracted new operators – particularly in the cold storage, logistics, processing and distribution sectors – to the Longlands and Irongate locale,” says Bayleys Napier salesperson Rollo Vavasour.
“In addition to this, significant improvements to local infrastructure, including the reconfiguration of Irongate Road West and intersections at Maraekakaho and Irongate Roads, have streamlined access routes, making the location more attractive and accessible for operators moving goods.
“Neighbouring occupants include leading firms Venta and MCL Construction, national logistics provider Farmers Transport, wholesaler ACME, manufacturer Motus Hydraulics, and growers Bostock New Zealand and Rockit Apples have an established local presence, demonstrating a strong appetite for local investment.
“Subsequently, interest from large-scale international firms, such as Mainfreight, which has proposed a new distribution centre, is putting pressure on an already tight supply of available development land,” he says.
Vavasour is marketing the property for sale with Bayleys Napier colleague Mark Evans by way of auction on Friday, 24th February at 12:00 pm (unless sold prior).
The property, in the newly formed Tumu Way subdivision, is zoned General Industrial Irongate Area within the Hastings District Council Operative District Plan, which provides for an average site area of 10,000sqm and a minimum site area of 5,000sqm.
“In practice, this means any site area of less than one hectare is a rare opportunity within the precinct,” Evans says.
“Upon execution of the current consented plans, the property will comprise good-quality, high-stud industrial factory facilities with an associated two-level office annexe and marked car parking for 30 vehicles.
“The 3,286sq m (more or less) of consented plans include executive-quality office accommodation, which has been prepared by Simply Architecture and proposes a significant design-and-build opportunity for a local operator to maximise the compact site with road frontage on two sides within the fast-developing Longlands industrial precinct,” he says.
“The wider Irongate area continues to experience rapid growth, buoyed by significant projects including modern, high-quality premises for concrete construction firm Lattey Group, manufacturers Motus Hydraulics and BBI Wood Products, in addition to Rockit Apples’ 8.5 ha cool store and packhouse facility.
“Since the pandemic onset, the industrial property sector has been a bright spot, outperforming other asset classes thanks to an emphasis on growth and innovation, strong investment from local firms and international operators, as well as scarcity of available land.”
Evans explains that despite recent economic uncertainty, council forecasts continue to project a positive long-term growth path for the Longlands/Irongate precinct, which has experienced significant industrial demand, particularly for post-harvest and manufacturing facilities since a large proportion of land has been re-zoned as industrial.
“For operators attracted to the area, location remains paramount, with the Tumu Way subdivision providing an attractive option adjoining public transport routes and easy access to the Napier Port and State Highway 2 north and south, as well as Maraekakaho Road – a regional arterial route.
“In addition to this, amenities nearby include the Stratford Lodge retail precinct, giving the emerging area a vibrant edge and huge value uplift potential as it entrenches itself as a key central North Island industrial location,” Vavasour says.
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Bayleys Real Estate
New Zealand
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