A super-sized industrial site in Tauranga will be highly appealing for a wide range of buyers given the extensive potential on offer from a premier landholding in one of the country’s fastest-growing regions.
Lot 1, Kaweroa Drive, Tauriko in Tauranga is a 28,763sq m freehold site that is strategically positioned in the tightly held Tauriko industrial precinct.
The Industrial zoned property represents one of the last chances for occupiers, developers, or investors to acquire a site of scale in this sought-after location where land values have experienced significant growth in recent years.
The site, which is approximately 12 minutes away from Tauranga’s CBD, is being offered as vacant possession and offers dual road frontages to Kaweroa Drive and Matakokiri Drive.
Tauriko has experienced a commercial and industrial property boom recently through the development of the Tauriko Business Estate, which is now home to a number of notable brands such as NZL Group, Cubro, Bidfood, and Brother International.
There has also been significant residential and retail investment in the area through the Tauranga Crossing retail development and The Lakes subdivision, a dynamic community set within a park-like environment.
Emerson, Industrial and Retail Broker at Colliers Tauranga, says this prime offering at Kaweroa Drive, which is located on a prominent corner site, offers vast growth potential.
“The titles on this property are expected to be issued in June and the roading to reach the site has been completed,” Emerson says.
“Site works are underway, and it is hard to understate the potential on offer given its north-facing positioning that offers extraordinary profile and street exposure.
“The property boasts regular proportions, while being located on a prominent thoroughfare meaning it will experience high traffic volumes on a daily basis. Additionally, Kaweroa Drive is a link road via the potential cross city link that intends to move traffic from State Highway 29 to State Highway 36. This location commands serious attention.”
Due to the site being a blank canvas, Emerson says buyers will be presented with a range of options to help the property realise its potential.
“The new owner may choose to construct a building of scale, occupy a portion of the site, subdivide it, or simply landbank it to enjoy the capital growth on offer.”
Schoeser, Commercial and Industrial Sales Broker at Colliers Tauranga, says there is ongoing demand for developable land in the Bay of Plenty region and supply cannot keep up.
“Lot 1, Kaweroa Drive is one of the most exciting offerings that we will bring to the market this year given the sheer scale of the property and its scarcity factor,” Schoeser says.
“It’s incredibly rare to see landholdings such as this one being presented to the open market and the ongoing commercial growth in Tauranga means there will be strong interest in this unique site.”
Bay of Plenty continues to experience steady population growth as people choose to move to the region for its relaxed lifestyle.
According to Stats NZ, in the year ending June 2020, Bay of Plenty’s population grew 2.8 per cent, an increase of 9,100 people, which was the highest percentage increase of any region in New Zealand. This was driven by high growth in Tauranga city and the Western Bay of Plenty district.
“This continued residential growth in the region shows there will be ongoing demand for commercial and industrial development to keep pace with the population making this site a must-see,” Schoeser says.