Divestment of some 13 hectares of freehold, industrial zoned land in the Hawke’s Bay provides a raft of opportunity for developers, owner occupiers or investors.
Currently operating as a vineyard, the land enjoys Gimblett Gravels status, with its location in the wine area that’s renowned for producing some of the best, full-bodied red wines around the world.
The property is for sale by Tender closing 4pm Thursday 15 April 2021, unless sold prior.
The site has an estimated net area of 13.019 ha with a relatively flat contour.
Alongside the vineyard plantings, the property also comprises two windmills for frost protection and access to bore water for irrigation.
Colliers broker Rob Nankervis who is marketing the property says it offers huge development potential.
“This offering is a prime opportunity to secure a large industrial land holding in the sought after Omahu industrial area.
“The General Industrial zoning provides for a wide range of permitted industrial activity and would lend itself well to logistics, packaging, or storage due to its proximity to residential areas.
“An added bonus for developers is a low liquefaction rating, which can mean cost savings down the line.
“The site is well positioned on the north western fringe of Hastings just off Omahu Road, which is a main arterial route and provides easy access to Hastings town, just 5kms away.
“Sitting between State Highway 2 and 50, the site also benefits from excellent connectivity to Napier Port and the CBD.
“The Omahu Road precinct is a popular and established industrial and food processing area with neighbouring operators including McCains, Freshmax, Wineworx and Visi Packaging, to name a few.”
According to Napier-based agent Nankervis, industrial land is in high demand in the Hawke’s Bay, a trend which he says is set to continue.
“The Hawke’s Bay is an excellent investment location with a number of underlying economic benefits such as a growing population and employment opportunities that support commercial real estate activity.
Latest GDP information from Infometrics shows that the Hawke’s Bay region enjoyed economic expansion of 2.1% in the year ending March 2020.
“The region’s growth is supported by local, regional and international demand for exports and the Napier Port provides an essential link in the supply chain.
“The Port is fundamental in driving regional prosperity by connecting Hawke’s Bay and central New Zealand to global markets.
“Its popularity is continuing to flourish, experiencing year-on-year container growth in the past decade, and handling a record number of containers in 2020 according to the latest annual report.
“A consent process is underway for a new wharf and to deepen the shipping channel, meaning its growth is only set to continue.”
Nankervis says that strong regional growth has resulted in land becoming increasingly hard to find for developers and occupiers.
“We are seeing the availability of land following a similar trajectory to Auckland and Tauranga where demand is outstripping supply.
“This is especially true in the industrial sector, which remains one of the most popular and high-yielding asset classes.
Whether you’re an owner-occupier, developer or investor, this could well be the regional industrial opportunity you’ve been looking for.”