A functional, well-located industrial warehouse and yard in the Frankton area will be auctioned in September, with prospective buyers urged to look past the gritty initial first impressions to recognise the potential inherent in the property which will be vacant on settlement.
The property comprises 2,206sqm of industrial-zoned land with a circa-2000 modern, high-stud 525sqm clear-span industrial building with dual roller door access and reception area.
Jordan Metcalfe and Rebecca Bruce of Bayleys Hamilton are marketing the land and buildings at 63 Higgins Road, Frankton with the auction to be held at 12pm, 17th September (unless sold prior).
Metcalfe said the property is expected to resonate with both investors and more particularly, owner-occupiers that require generous yard space for their business operation – something that is increasingly hard to find in the Hamilton market.
“There’s pretty slim pickings for those businesses that require yards for heavy machinery and equipment, truck parking, container storage or other uses and where reasonable scope for manoeuvrability is needed.
“With tight conditions and low vacancy across the industrial market currently, this could be an opportunity for a business to transition from having leased premises to becoming an owner-occupier to secure their operation’s future.”
Bruce said while the property’s yard surrounds may look a bit scruffy due to the nature of its existing use, it’s very superficial.
“The bones of the property are very good, and an add-value investor or motivated business owner could really whip it into shape by sprucing up its street appeal and tidying up the warehouse inside.
“While accepting that this is an industrial property through and through, a bit of paint and some landscaping would go a long way to sharpening up the offering from a presentation point of view.”
Metcalfe said the Frankton location remains sought-after in the market despite the emergence of other industrial precincts in the Hamilton area.
“Frankton is a no-frills, roll your sleeves up location that is close to main arterial routes including being around 500-metres from State Highway 1, ensuring easy access in and around Hamilton and outwards within the wider Golden Triangle.
“This property’s generous yard allows for good movement in and out of the property, and it’s conveniently located for delivery and pick-up purposes.
“It’s also handy to the CBD, the hospital and large format trade operators like Bunnings.”
Metcalfe said infrastructural initiatives for the area including the Hamilton to Auckland Corridor which will leverage off improvements to State Highway 1 and ongoing investment in the Waikato Expressway, main trunk rail and inland ports can only further strengthen the credentials of industrial land in Frankton.
“Plus with planning underway for the Southern Links Project which will improve southern connectivity, it’s a big win for industrial businesses who rely on resilient transport networks for their operation.”
Bruce said they are anticipating enquiry from businesses in the local area looking to scale up to bigger premises.
“Many industrial businesses have found escalated demand for their goods and services throughout the pandemic and have outgrown their current base,” she said.
“With a bit of vision, this Higgins Road property could morph into a really desirable industrial site.”
Property address: 63 Higgins Road, Frankton, Hamilton