Huge development site could become the next big industrial park

Massive 67.76ha tract of freehold land for sale near Auckland Airport

A huge tract of freehold industrial development land for sale near Auckland Airport has the potential to be transformed into a substantial business park, brokers say.

Colliers International has been exclusively appointed to market the 67.76ha landholding on Puhinui Road, Wiri, for sale by tender.

Located only two minutes’ drive from the airport, the site is on four separate titles in the specially zoned Puhinui Precinct, which Auckland Council has earmarked for future industrial growth.

The titles are for sale either individually or together, with tenders for any or all four of the titles to be submitted by 4pm on Monday 3 September.

Greg Goldfinch, Industrial National Director at Colliers International, says the landholding is among the last and best of its kind in Auckland.

“It’s no exaggeration to say this opportunity has the potential to become Auckland's next big business park,” he says.

“The chance to acquire an industrial development site of this scale, so close to Auckland Airport and the motorway network, will likely never be repeated.

“The current owners have invested many years of planning and design work to facilitate development of a new business park or industrial estate on the site.

“They have drawn up a comprehensive masterplan with input from Auckland Council, the New Zealand Transport Agency, expert consultants and adjoining owners.

“Potential buyers will be able to draw on a wealth of expert advice including yield calculations, roading plans, and geotechnical, archaeological, cultural, landscape and storm water reports.

“With much of the hard work already done, the new owner will be able to unlock the site’s potential almost right away, and perhaps save a great deal of time and money.”

Zoned Light Industry, the property is located on four titles at 358, 420 and 440 Puhinui Road and 92 Prices Road.

Goldfinch says the landholding benefits from about 692m of frontage to Puhinui Road (State Highway 20B) and some 221m of frontage to Prices Road.

“Puhinui Road is the main arterial route between Manukau and Auckland Airport, giving the property huge exposure to passing traffic.

“It is a tributary of SH20, which forms part of the recently completed Western Ring Route – a key piece of infrastructure that links Auckland’s northern, western and southern suburbs via the airport.

“The property itself is located 1km west of the SH20 and SH20B interchange, and 1.5km east of Auckland Airport.

“Road frontage to Prices Road provides a potential point of access away from the main highway traffic.”

Colliers International Industrial Director Paul Jarvie says the property is ideally located close to both the Wiri and Auckland Airport industrial precincts.

“Wiri is one of Auckland’s fastest growing industrial precincts due to its central location and proximity to SH1 and SH20.

“The completion of the Waterview Tunnel has created greater access to the rest of the Auckland region and beyond, while the Wiri Inland Port provides direct rail access to the Ports of Auckland.”

Jarvie says most of Auckland’s freight forwarders and logistics companies are based at or near the Auckland Airport industrial precinct.

“The property for sale couldn’t be better placed to take advantage of freight and logistics business,” he says.

“Auckland Airport is the busiest airport in New Zealand and the second busiest in Australasia, with passenger numbers expected to more than double to 40 million by 2044.”

A massive investment programme is underway, with $2 billion in spending planned by 2022, including significant public transport and roading infrastructure. A second runway is expected to be operational within a decade.

Jarvie says the property for sale is vacant except for about 3,500sq m at the southwest corner on Prices Road, which is leased at $70,000 a year. The lease has a relocation clause.

The landholding is contiguous aside from a small 1.21ha site at 440 Puhinui Road, on the corner of Prices Road. 

Light Industry zoning provides for industrial activities that do not generate objectionable odour, dust or noise emissions.

This includes light manufacturing, production, logistics, storage, transport and distribution activities.

The zoning imposes no specified height limits, but there is a 10m height limitation directly adjacent to Puhinui Road to provide a visual setback, while height controls are also in place for the central part of the site which sits under the flight path. 

The wider Puhinui Precinct encourages industrial use; however, proximity to Auckland Airport makes sensitive activities such as dwellings or offices unsuitable on the site for sale.

Prior to development of the site, the owner has agreed that certain roading improvements will occur.

Now embedded in Auckland’s Unitary Plan, the precinct rules require a new road connection to be constructed at Puhinui Road, and a new junction connecting Prices Road to McLaughlins Road.

The vendors, in conjunction with NZTA, Auckland Transport, Auckland Airport and other landowners are currently redefining the nature of the intersection requirements to ensure the roading infrastructure requirements can be delivered by 2020.

Colliers International research shows Auckland’s overall industrial vacancy rate has remained at low levels over the past 12 months, sitting at 2.3 per cent in February 2018.  

The low vacancy rate, combined with growing rental expectations and a lack of stock for sale, has helped to drive prime industrial yields in Auckland to their lowest levels.

The limited supply of vacant development sites in the face of rising demand is directly impacting land values. Industrial land values in Auckland have seen a significant increase over recent years corresponding with an increase in demand and development activity.

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