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Family-owned portfolio of Franklin development land released to the market

Tags: Commercial

Seven brothers who have proactively worked together to build a successful and enduring business within the primary sector, have jointly made the decision to sell components of their strategically-accumulated portfolio in Pukekohe and Tuakau.


Seven brothers who have proactively worked together to build a successful and enduring business within the primary sector, have jointly made the decision to sell components of their strategically-accumulated portfolio in Pukekohe and Tuakau.

The Reynolds brothers of Pukekohe, who own TA Reynolds Limited, have followed in the well-trodden footsteps of their forebears who started farming and cropping in the district more than 150 years ago.

As enterprising schoolboys in the 1970s, the brothers started farming on land leased from their family and other landowners in the area and later, astutely and strategically-purchased blocks in the district.

The Reynolds’ have been industry advocates, advisors to central Government on soil and sustainability issues, and stalwarts of the local farming community.

Although they will retain a core productive component of their land for the time being, it’s now time for new directions for some of the brothers, and retirement for others.

There is a total 216.35ha (more or less) of land for sale across the portfolio, comprised of nine multi-titled lots – much of which has been rezoned for potential industrial and residential future development.

Duncan Ross, Bayleys Central Auckland along with local agents Shane Snijder and Ben Jameson of Bayleys Pukekohe, are marketing the subject properties for sale by tender as separate lots, or as a whole portfolio. closing 4pm, Friday 3rd July.

Ross says the mixed-use portfolio offers significant scale in one of New Zealand’s fastest growing regions which boasts improved connectivity through infrastructural projects and proven appeal for commercial and residential growth.

“Along with prime, high-yielding horticultural lots for sale – which will have strategic appeal for existing producers in the area wishing to expand operations – there is well-located land earmarked for current and future development across both industrial and residential zonings,” explains Ross.

“With holding income in place on some of these rezoned blocks, it provides unrivalled investment opportunity in a district which is important to the Auckland-Waikato growth trajectory.”

“As we emerge out of the COVID-19 environment, we expect to see greater demand for homes in outer-lying areas as people seek a more balanced lifestyle with flexibility to commute, while the industrial components offer up exciting possibilities given proximity to main arterials.”

Ross says there are several blocks with current or potential future industrial usage that will resonate with developers keen to leverage off a widespread shortage of such land.

“Within the Golden Triangle comprising Auckland-Hamilton-Tauranga, there is still an undersupply of good industrial land that supports growth in the agri-sector and this portfolio offers tangible opportunity for developers.”

At Bollard Road, Tuakau, there’s 9.42ha of prime industrial-zoned land with services in place, currently used for cropping, with holding income available.

Just southeast of this, at the intersection of Bollard and Whangarata Roads, is 31.57ha of industrial-zoned flat land with excellent holding income from a fully-producing kiwifruit orchard (G3/Hayward) that is nicely-positioned for a future industrial business park.

In addition to these already industrial-zoned lots, is 23.27ha in Harrisville Road, Tuakau, currently zoned Rural, but a contender for land-banking with a long-term view to creating a transport hub or conversion to a glasshouse-based growing operation.

Residential developers will be noting the success of other subdivisions in the broader area and recognising the inherent scope that the TA Reynolds portfolio includes for residential development.

Snijder says population growth in the broader Auckland region has resulted in a tangible appreciation of land assets in the Franklin district.

“There has been significant rezoning of land towards more intensive activities with Pukekohe identified by Auckland Council as a priority growth satellite town and now acknowledged as one of the country’s fastest-growing towns,” he says.

“There is unprecedented infrastructural investment happening to the south of Auckland, and some huge industrial, retail and residential development projects near-completion or well-underway.

“The residential and future urban-zoned Reynolds’ land is expected to resonate with the development sector.

“In particular the land at Belgium Road, where preliminary due process is well underway, could fast-track options for well-capitalised developers.”

The Belgium Road lot is 13.36ha zoned Residential-Mixed Housing Suburban with specialist reports for a 127-lot residential subdivision, and Resource Consent for this, pending.

Close to this is 21.99ha in Birch Road and Golding Road, zoned Future Urban and a further 7.92ha in Tuakau, in Elizabeth Street and Buckland Road, with residential zoning in place.

Also, ready to go for a residential development, is 1.85ha in Jellicoe Avenue, in a semi-built-up area adjacent to the Tuakau town centre, next to Tuakau College. It is on all town services, zoned residential and boundary-fenced.

This Jellicoe Avenue block is part of a larger lot which also includes 35.06ha of existing cropping land in Buckland Road, zoned Future Urban.

Speaking for the Reynolds brothers, Peter Reynolds says the Franklin district has an exciting future ahead of it and they will be watching with interest as it evolves.

“As we divest some of our land assets and reduce our personal farming footprint, we hope that the townships of Tuakau and Pukekohe will continue to thrive and attract new people, while the area remains largely the food bowl of the district,” he says.

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