Bayleys news & articles

Property investors revved-up as land goes up for sale

Tags: Commercial

Two large portions of Special Development-zoned land adjacent to one of New Zealand’s premier motorsports tracks and events centre have been placed on the market for sale.

The two greenfield sites border onto Manfeild Park in the Manawatu township of Feilding.

Combined, the two freehold plots up for sale contain 30,550square metres of land, which is owned by Manawatu District Council. The South Street property consists of a 19,880square metre landholding, while the Kawakawa Road plot consists of a 10,670 square metre section.

The properties have been placed on the market for sale by tender through Bayleys Palmerston North, with tenders closing at 4pm on Thursday 9 August 2018. Salespeople Bede Blatchford, Karl Cameron and Lewis Townshend said the sites could either be tendered for individually or as a combined parcel.

“As a virtual ‘blank canvas’ development opportunities, these parcels of land offer total flexibility from a design and build perspective to work in conjunction with a broad range of economic activities taking place in the immediate neighbourhood,” Mr Blatchford said.

The two sites are zoned Special Development under the Manawatu District Council District Plan. Mr Blatchford said the classification had been created to recognise the importance of Manfeild Park as a multi-purpose facility, and to facilitate the development of business activities sympathetic to Manfeild Park and this particular location in Feilding.

The site allows for permitted uses such as equestrian or motorsport accessory retail outlets, offices, convenience food operations, or farming and agricultural supply warehouses. Garden centres or vehicle sales yards are not permitted on either location.

Adjacent is Manfeild Stadium which is the largest single-span sports and entertainment venue in the Lower North Island – with 7750 square metres of space capable of holding up to 5000 spectators. Its central arena under a 10-metre high stud regularly hosts equestrian show jumping and parading competitions, while the venue can also be configured to host theatre-seated events for 5000 guests, or 2000 people in a banquet arrangement.

Sitting in Feilding’s south-western corner, Manfeild Park and the associated motor racing complex and function centre are bordered by residential properties on one side, industrial and warehousing premises on the other, and the Feilding Sale Yards on the South Street aspect. With cattle and sheep auctions run twice weekly, the stock sales yards are the biggest in the Southern Hemisphere.

Mr Blatchford said the South Street landholding could be developed to sustain businesses involved with the nearby stock sales as an option.

Related articles