Eurocell is closing its mill and selling the land with vacant possession.
The property has more than 400 metres of frontage to Park St and is immediately to the north of the bulk retail cluster incorporating Mitre 10 Mega, Parapine ITM, Briscoes, Big Save Furniture and Wellington Beds.
Colliers agent Tim Julian said it was unusual for such a large parcel of land to come on the market so close to a CBD.
‘‘Large site users sometimes spend five to 10 years amalgamating such sites incurring substantial costs along the way.’’
The site is on 13 separate titles ranging in size from 750 square metres to more than 6000sqm. The zoning is primarily for industrial use such as manufacturing and warehousing but certain retail uses are permitted.
The vendors were South Island based and owned various businesses, including sawmilling. With the closure of Eurocell there was no reason for them to retain ownership of this property, said Julian.
Other big businesses in the Maidstone area include the Inland Revenue Department, Parapine Timber
holding and to the north in Montgomery Crescent is INC (formerly known as National Can) and Wedgelock.
Julian said there was a vibrant local industrial community.
This was a high-profile site, close to other well known businesses and a short walk to the CBD and Upper Hutt Railway Station.
There are several buildings on the site totalling 4800sqm.
Julian said the rating value of $3.14m was likely to be at the top end of the selling range.
The property is being sold by private treaty with a closing date of November 3.
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