All 16 freehold industrial units in a new, purpose-built hub in the heart of Napier’s premium industrial area are under contract just three weeks after being placed on the market highlighting strong demand for industrial property in Hawke’s Bay.
Bayleys Napier salesperson Mark Evans said the units at Turner Place Industrial Park attracted strong interest with the purchaser mix made up of around one-third investors, one-third owner-occupiers and one-third hobbyists.
He said the development has come at a time when there are compelling local reasons to consider an investment in industrial property.
“Industrial vacancy in Napier has never been lower, the Hawke’s Bay’s primary-producing economy is enjoying a boom and there is a general lack of affordable, modern warehousing – either for lease or for sale,” Evans said.
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“As a result, quality industrial real estate is highly-sought after in the market and competition for space is pushing rents higher.
“With bank interest rates now at an all-time low, Turner Place Industrial Park has offered a range of attractive solutions for purchasers who want to ‘own their future’ by way of an affordable freehold investment in industrial bricks and mortar,” he said.
Evans said the opportunity to purchase off-plan before construction commences resonated with many buyers and the offer was oversubscribed, with several back-up offers.
He said Turner Place Industrial Park has attracted businesses seeking to take control of their business asset as well as future business growth, securing their business base – while enjoying the advantages of ownership versus paying off someone else’s asset under the threat of lease expiry and rent reviews.
“These new, high-quality premises will not only offer a great working environment, they will also add value to brands whose owners have chosen to be part of this exciting new industrial hub.”
He said there is now a selection of units available for lease from $160 per square metre plus GST.
The Turner Place Industrial Park at 9 Turner Place will consist of quality, single-storey freehold units located on a dual-frontage site with convenient vehicle access within Napier’s Onekawa industrial precinct.
Warehouse spaces in the development range from units of 93 square metres for $295,000 plus GST (if any) to 140-square metre units for $425,000 plus GST (if any).
A key feature of the park is its strategic location. Zoned Main Industrial by Napier City Council, it lies on a no-through-traffic road off a busy arterial route linking the Onekawa industrial area to nearby residential areas and Napier’s central business district, making the site easily accessible for owners and customers.
Turner Place Industrial Park will be built with a seismic rating of 100 percent of new building standard by Hawke’s Bay-based construction firm Gemco Group, which has delivered successful projects across New Zealand spanning all major property asset classes.
The 16 individual units will each feature a minimum 4.2-metre stud height, motorised industrial roller door access, plus toilet and kitchenette facilities. Each site has either one or two dedicated car parks, ducting for fibre internet connection to the exterior and the option of three-phase power.
Evans said the new industrial park would feature two buildings constructed with modern precast tilt-slab concrete walls, concrete floors, COLORSTEEL roofing and aluminium joinery.
He said it also offered convenient access to Napier Port and Hawke’s Bay Airport, as well as the Hawke’s Bay Expressway which provides exceptional connection to the north via State Highway 2, just 600 metres away, and south to Hastings and the lower North Island.
Construction of the new industrial park on bare land at 9 Turner Place is subject to the granting of Napier City Council resource consent and building consent.
