Napier industrial site primed for development

Buyers have a rare chance to secure a large landholding ripe for redevelopment in a key Napier commercial and industrial stronghold.

The vacant more than 3,000-square-metre property for sale sits in the centre of the Onekawa industrial precinct. It contains several buildings with a combined 570 square metres of warehousing, plus offices, along with nearly 2,400 square metres of secure yard.

The site enjoys excellent accessibility and prominence thanks to a position on Wakefield Street, a major internal through-road in central Onekawa.

With nearby State Highways 2 and 50 supporting easy travel to Napier Port, Hawke’s Bay Airport, and the wider region, it is considered ideally located for logistics for local, national and international distribution and manufacturing businesses.

Bayleys salesperson Matt Webb said quality sites of such scale were seldom released to market in an industrial hub which sees perennially high demand from tenants and owner-occupiers.

“This high-profile property presents an exceptional platform for owner-occupiers, developers, long-term land bankers, or investors seeking to position themselves in a proven industrial hub.

“Developers have multiple ways to add value, by either clearing the site and designing and building a strong, valuable long-term asset, or adapting the existing structures to suit their development.

“Vacant possession gives owner-occupiers an opportunity to move in and position their business in a proven bastion of commercial and industrial activity. The site is particularly well suited for yard-based operations.

“The various buildings offer flexibility to be split into a number of potential tenancies, as an ongoing add-value investment or to generate holding income while a development proposal is progressed,” Webb said.

The freehold land and buildings at 52, 54 and 56 Wakefield Street, Onekawa, Napier, are being offered for sale by negotiation through Webb and colleague Grant Anderson, of Bayleys Hawke’s Bay.

The property comprises approximately 646 square metres of buildings on 3,034 square metres of land across three freehold titles. The corner site has convenient dual access points and around 60 metres of frontage to Wakefield Street.

Buyers have the potential to add further scale, flexibility, and supplementary options, by purchasing the 1,011-square-metre (more or less) property next-door at 58 Wakefield Street.

The land sits within Napier City’s General Industrial zone.

Anderson said this, and the three freehold titles, offered excellent development flexibility for a wide range of industrial and commercial uses.

The sale came as the industrial sector showed further evidence of its ongoing market appeal, he said.

“Industrial property has been a star performer over the last several years. Bayleys’ latest industrial market update points to improving feasibility for development – evidenced nationally by a solid pipeline of builds – particularly in areas that are seeing high leasing demand.

“Bayley’s February report notes developer confidence is supported by an expectation that long-term industrial property supply shortfalls will persist. The recorded vacancy of 1.9 percent for Napier/Hastings is significantly lower than rates seen in many other centres.

“Underpinned by these strong market fundamentals, the Wakefield Street site offers a rare and compelling opportunity for buyers to secure an asset defined by proven location, future flexibility, and long-term demand,” Anderson said.