The large industrial site housing the Gisborne regional base for transport and infrastructure services giant Downer has been put up for sale.
The freehold property of approximately two hectares sits within the established Awapuni industrial precinct, just minutes from Gisborne’s central business district on State Highway 35.
Fully leased to Downer NZ Limited since 2009, the site at 187 Awapuni Road has been described as one of the most significant industrial property listings in recent years in a city which is experiencing a substantial shortage of industrial land.
Downer employs 5,000 staff in more than 60 towns and cities across New Zealand.
With a history dating back to 1870, it has built a significant proportion of the country's roads, rail lines, telecommunications and hydroelectric schemes. More recently, it has expanded into water and renewable energy projects.
The company’s parent, the Downer Group, is listed on the Australian Securities Exchange and New Zealand Stock Exchange and has operations in 23 countries across Australasia, Europe, the Middle East and South America.
Downer’s tenancy of the Awapuni Road site generates annual net rental income of $361,820 plus outgoings and GST. Its current lease runs through to 2024, with three further five-year rights of renewal.
The freehold land and buildings at 187 Awapuni Road, Gisborne, are now being marketed for sale by way of a tender closing at 4pm on 30 April, through Bayleys Gisborne.
Salesperson Mike Florance said the Awapuni Road property currently consisted of buildings with a total floor area of some 670 square metres on a freehold site of just over two hectares.
“The existing buildings provide workshop space and office accommodation for Downer staff, while most of the balance of the site consists of expansive yard areas.
“The company utilises these areas as a base for plant and machinery which are used in projects throughout Gisborne and the wider East Coast region,” Mr Florance said.
The Awapuni Road site is zoned Industrial under Gisborne District Council’s Tairāwhiti Resource Management Plan, yet lies less than two kilometres from the heart of the city’s central business district – and minutes from the airport and port.
Mr Florance said the property’s strategic positioning on State Highway 35 facilitated easy access to the north and south of the city.
Surrounding occupants within the Awapuni industrial precinct encompass a range of industrial activities in business sectors including automotive, transport and construction.