Auckland, 27 February 2016 - A large parcel of industrial greenfield land in a rapidly-growing town on the outskirts of Auckland is on offer, presenting potential buyers with an opportunity to occupy, subdivide or land bank.
The 28.05ha block of undeveloped land at 45 McDonald Road, Pokeno - on the intersection of SH1 and SH2 at the foot of the Bombay Hills - is for sale by negotiation through CBRE and Colliers International.
Greg Goldfinch of Colliers International who, with colleague Todd Kuzmich and CBRE’s Bruce Catley and Tim Boyle, is marketing the property, says it is likely to appeal to those seeking large industrial properties who have been pushed out of Auckland’s suburbs.
“With the shortage of industrial land in Auckland - especially for sale - values are at an all-time high and large users are having to push further south, north or north-west; simply due to lack of supply.
“This property presents an exciting opportunity to secure a large parcel of industrial land in a strategic location in the periphery of Auckland to occupy, subdivide or land bank with a long-term view.”
A proposed two-stage development has been prepared for the site, which borders land owned by Hynds Group and the Dines Fulton Hogan Joint Venture and runs adjacent to the new industrial development Gateway Business Park, Goldfinch says.
“The development for 45 McDonald Rd would see the site subdivided into 13 lots, ranging in size from 8,687sqm to 4.31ha.”
A significant amount of development work and infrastructure has been completed on the adjoining Gateway Business Park to date, Goldfinch says.
“There has also been extensive residential development in close proximity to the site, including Pokeno Village Estate and Hitchen Block, for which demand has exceeded supply - a strong sign of an increasing need for business and industrial facilities in the area.”
The most significant recent development for the region was the opening of Yashili International’s $220 million 30,000 sqm milk processing facility in November last year, which has an annual production capacity of around 52,000 tonnes of milk formula, Kuzmich says.
“Yashili chose Pokeno for its strategic location within the ‘golden triangle’ formed by Auckland, Hamilton and Tauranga, and this plant is now a major attraction for the area that is likely to be a drawcard for other service industries and activities.”
The bulk of the site at 45 McDonald Rd is a large, sub-divisible block, with a small strip of land along the south-eastern border, which wraps around the adjoining Hynds Group of land, Kuzmich says.
“There is the potential for a rail spur into the site, offering a rare opportunity to access the main trunk line, which would be the key use for this narrow strip of land.”
The land is zoned Industrial 2 under the Waikato District Plan, Kuzmich says.
“This provides for a wide range of industrial activity - including manufacturing, processing, assembly and distribution, storage, freight and wholesale of goods, as well as hire centres, service stations and refuse transfer stations.”
The property is situated off the eastern end of McDonald Road, more to the south-eastern fringes of Pokeno, Catley says.
“Pokeno is an area experiencing huge growth, with the Waikato District Council expecting the population to triple by the mid-2000s.
“The Auckland housing bubble is likely to drive even more growth, with data from realestate.co.nz showing there was a 114% jump in the number of Aucklanders using the website to search for Waikato properties during the mid-2014 to 2015 period.”
The Pokeno District centres on Pokeno Village, which lies south of the Bombay Hills and to the western side of SH1, known as the Auckland-Hamilton Expressway, Catley says.
“This offers easy access to ports in Auckland and Tauranga and the Auckland Airport - which is 30 minutes’ drive away - with travel time to Hamilton set to be further reduced when the new Waikato Expressway is completed in 2019.”
Pokeno was subject to a plan change which rezoned rural land surrounding the village into industrial, business and residential, Boyle says.
“The Pokeno Plan Change is well underway and includes 2000 residential sections to the north, a revitalised town centre, a centralised sports park and 80 hectares of industrial land.
“Residential developments include the large subdivision the Pokeno Village Estate and Hitchen Block, an urban village in a rural setting covering 400 hectares of residential, employment and community zone.”
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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.