One of the most desirable sites in Tauranga’s fastest-growing industrial area is up for sale ready for a developer to create a facility to house the latest in a growing line-up of big-name local occupiers.
The nearly 3,000 square metres of bare land on offer provides excellent exposure and access to Taurikura Drive, the main spine road running through the Tauriko Business Estate. It sits among premises housing businesses such as Gib, Penske, Royal Wolf, Bunnings and Brother International.
Bayleys salesperson Christy Arundel said the site for sale had excellent development fundamentals, being regular in shape, level and with wide frontage to the precinct’s key thoroughfare.
“With title issued, this freehold industry-zoned land is ready for developers to make their mark.
“It represents a superb and rare opportunity for owner-occupiers to build their own premises in a high-profile and convenient location, or for a new owner to tenant a new facility and enjoy the commercial returns,” said Arundel.
The freehold landholding at 364 Taurikura Drive, Tauriko, Tauranga, is being marketed for sale by Arundel and colleagues Rory Brown and Lloyd Davidson of Bayleys Tauranga.
The site will be sold by deadline private treaty closing on Thursday 26 October, unless it is sold prior.
The approximately 2,997-square-metre property sits within the Tauriko Industry zone under Tauranga’s city plan.
“With a maximum building height of 16 metres and no specific site coverage rules, this zoning enables the creation of a substantial facility. Various industrial activities are permitted, along with ancillary offices, retailing, port activities and service stations,” Arundel said.
The land presents some 57 metres of frontage to Taurikura Drive in the latest stage of the in-demand Tauriko Business Estate.
“Businesses and investors are drawn to Tauriko for its high-quality new buildings, blue-chip neighbours and its ease of access to the Port of Tauranga via the toll road and, via the state highway network, to Rotorua, Hamilton and Auckland,” said Arundel.
Brown said the precinct had undergone significant expansion since the first stage of Tauriko was completed in 2010.
“Development of industrial property is occurring here at an astounding rate due to the lack of available industrial land in Tauranga. Existing premises comprise mainly medium to large-scale buildings of a superior quality due to their relatively recent construction,” Brown said.
The site for sale is highly accessible to a new connection to State Highway 29 which is expected to be open by 2025.
The location offers easy access to state highways 26 and 36 and to the Lakes and Pyes Pa residential subdivisions via Paraone Koikoi Drive. It sits within about a 20-minute drive of Tauranga’s CBD and the Port of Tauranga, some 55 kilometres from Rotorua and around 100 kilometres from Hamilton.
Brown said keen demand for industrial property at Tauriko was underpinned by its location within the “Golden Triangle” area linking Tauranga with Auckland and Hamilton.
“Having the country’s two busiest seaports in this epicentre of population and economic activity is fuelling a burgeoning demand for warehousing to meet the needs of large and small occupiers.
“Winstones Wallboards’ new $400 million plasterboard facility in Tauriko is likely to further stimulate business expansion,” Brown said.
According to Bayleys’ latest Tauranga Commercial Market Update, ongoing demand for warehousing in the city is driving low industrial vacancies. With industrial property in short supply, rental rates have been growing across the region, particularly for prime properties.
Meanwhile, the development environment is improving with construction costs starting to stabilise as supply chain issues are resolved and subcontractors become more readily available, the Bayleys report suggests.