Auckland, 14 June 2014 - At a time of major transport infrastructure improvement and evolution across Auckland, 14 lots in one of the last remaining large industrial subdivisions in a rapidly developing part of the city, only five minutes from the hubs of Hobsonville and Albany, has come up for sale at The Mill Industrial Park, 21 Forestry Road, Kumeu.
The freehold sites, which vary in size from 2000sq m to the biggest lot of 1.5 hectares, are being marketed by Peta Laery of CBRE on behalf of The Mill Industrial Park, for sale by private treaty, with initial expressions of interest sought in mid-July.
Large users can be accommodated on site by utilising adjoining lots to make a site in excess of 3 hectares.
“This is a 22-lot, 17 hectare industrial subdivision in an undervalued but increasingly well-connected part of Auckland,” says Peta Laery. “We are coming to the end of the time when land prices in Kumeu are substantially cheaper than neighbouring areas, largely because of the considerable transport investment that is already connecting Kumeu with the rest of the city”.
“Already land values in The Mill Industrial Park - and Kumeu - are attractively outperforming their more newsworthy neighbours in Albany and Hobsonville. As current infrastructure improvements such as the Waterview Connection across the city are completed, the remaining sites at The Mill will only become a more highly attractive proposition for a wide range of industrial occupiers”.
“Essentially, The Mill offers companies an opportunity to beat the rush: a chance to design and build your own facility in a well-thought-through subdivision in a great area at a good price before development pushes prices up further.”
“I’d urge companies looking for a well-connected industrial location that is zoned for a wide range of uses to give The Mill serious consideration: don’t miss out. By the time your site is built, prices will definitely have risen.”
The Mill is named after the former Carters mill on the site, says Development Manager Jonathan Polglase.
“When we purchased the site, it was really just an old defunct saw mill that had been sold by Carters ten years before then. We saw the opportunity to take something that was a bit run down and provide an answer to the shortage of industrial land in the region. We harnessed an opportunity to develop the location and bring a range of sites to a market that was crying out for them.”
Polglase says that prior to purchasing the site, it had been fully remediated to the ‘Unpaved industrial’ level, which is an extremely high standard.
“Since then, we demolished a number of buildings, installed roading, water and services, and created ready-to-build-on sites in park-like surroundings to offer an attractive working environment for a wide range of Industrial uses for local and regional businesses.”
The 14 available sites sit within the first 10 hectare stage of industrial lots within the 17 hectare subdivision, with a second, nearly 6-hectare stage ready for development ‘down the track’ according to Polglase.
“All sites in The Mill come fully serviced. We have invested a significant amount in site infrastructure including storm water, 170m3/day potable water supply from a water bore, as well as 14m3/day onsite waste water treatment, with the capacity to extend many times that as required.”
“Additionally, the electricity and gas infrastructure is in place, providing flexibility and potentially lower development costs for occupiers of the site. This will be advantageous for anyone looking to generate heat from an alternative source to electricity. We can also accommodate high electricity users via underground cables as required due to the close proximity of high voltage lines.”
Polglase says that the site has been developed to be sympathetic to the environment and provide a genuine asset to the local community.
“We worked to ensure that what we developed would align itself with Green Star principles, creating one of the few parks in the area with substantial water and waste water systems in place.”
“For example, the stormwater ponds on site not only meet Council requirements, but they are also effectively wetlands, providing an amenity for companies in the location - and they reduce watercourse pollution via onsite vegetated wetlands. Additionally, although consented on-site water use is 170m3 per day here, at our initiative every site needs to fit tanks and collect water off the roof, ensuring two water supplies are available to each occupier.
“In addition to all of this, a 9 million gallon lake that was originally created for firefighting purposes is ready for large-scale water use as required.”
Laery says that these and other features positively impact 21 of the 145 un-weighted points that go towards a Green Star Industrial rating for buildings located within the precinct.
“Being developed as an industrial park, The Mill has provided numerous opportunities to implement environmental features beyond the scope of its individual sites and buildings. Environmentally preferred infrastructure, shared services and amenities have been incorporated to reduce the site’s environmental impact as well as increase the potential for all future buildings to perform well in Green Star rating assessments.”
Laery says that the eight current occupiers in the park - which include Freedom Pools, Onsite Solutions and timber treatment company North Treat - are consistently being joined by new neighbours.
“Well-known JSC Timber recently purchased a 1.5 hectare lot in order to create their head office. This is a very established nationwide firm that is owned by a well-known Auckland family. They are creating a 3,900sqm facility with a lit, fenced and metalled yard, which is due to be finished at end of the year. JSC’s choice of The Mill clearly demonstrates the confidence that established businesses have in the location.”
The Mill is located 2.5 kilometres from the centre of Kumeu and approximately 2 km from the village of Riverhead, 20 minutes North West of Auckland’s CBD, says Laery.
“The Mill is accessed from Forestry Road, which is just off Deacon Road. It provides easy access to a range of new roading developments. Not only is the proposed new North West Motorway extension on The Mill’s doorstep, but the Western Ring Route motorway will link North and South from Manukau through to Albany.
“This new motorway, which passes within only a couple of kilometres of the property, will become a major trunk line for commercial purposes, as it allows traffic to completely bypass the CBD. It will enable easy and rapid access equally to Albany and to Auckland International Airport in Manukau.”
Laery describes the potential of the location as ‘The Story of the West’, saying that The Mill – and Kumeu – are exceptionally positioned for the future development of Auckland.
“$325 million is being invested 5 minutes away from where we are at The Mill. When you think about the development that is taking place in this part of the city - 1500 sections going in at Riverhead (less than a kilometre down the Road), the development of Westgate shopping centre, Hobsonville Point, Whenuapai and Massey North – only 10 minutes from the end of the motorway, it is nothing short of transformative.
“Plus the widening of the North Western motorway causeway and construction of the Waterview Connection is going to open up access to this part of the city. Travel times across the North Shore are already faster than the old alternatives, and soon you will have great access from the Coatesville Highway to Albany, only 15-20 minutes to town and the airport. From the site you won’t hit traffic lights till Drury.
“There is no doubt about it: the West is coming closer than anyone realises. Kumeu is going to become a thriving area sooner than you think. And, when you consider that sections at The Mill are priced from $250 per square metre, compared to nearby Hobsonville land, which is around $100 per square metre more expensive, The Mill really does provide an exceptional location for companies looking to the future.”
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.