Industrial site with multiple income streams

A large industrial landholding for sale with numerous warehouse buildings and a three-bedroom home offers unique flexibility for add-value investors and owner-occupiers in a proven Palmerston North location.

Set on nearly 6,400 square metres of freehold land on Cessna Road, in the Roslyn industrial and service precinct, the site encompasses a collection of tidy warehouse units in varying sizes.

Several are leased on short-term arrangements, to tenants including engineering and sound and lighting businesses, generating a combined holding income of $105,481 plus GST per annum.

Others are vacant and immediately available for occupation or value-add leasing.

“This unique mix will allow new owners to tailor their strategy, whether that’s securing space for their own operations or repositioning the asset and increasing income through new tenancies,” Bayleys salesperson Karl Cameron said.

“Buyers of this sizeable landholding may also investigate longer-term redevelopment possibilities in a precinct where numerous larger occupiers operate successfully from more substantial buildings.

“Complementing the existing industrial buildings is a well-maintained three-bedroom house, with sweeping elevated views toward the Ruahine and Tararua ranges. This presents the option of on-site living for an owner-occupier, or an extra diversified income stream for investors,” Cameron said.

Now on the market for the first time in around 60 years, the freehold land and buildings at 96-110 Cessna Road, Palmerston North, are being offered for sale by deadline private treaty closing on Wednesday 15 April. The sale is being marketed by Cameron and colleague James Crawley, of Bayleys Manawatu.

The site’s multiple buildings have a combined floor area of approximately 1,570 square metres. These are underpinned by an Industrial-zoned landholding of some 6,391 square metres.

Elevated to maximise the views, the Tudor-style home has three bedrooms, one bathroom with a spa bath, and two toilets. Comfort is enhanced by underfloor heating, functional living spaces, and private grounds.

“With its tranquil setting and impressive views, this dwelling is an interesting additional feature which presents an appealing opportunity for those seeking a relaxed lifestyle in a city-fringe area,” Cameron said.

“Overall, this unique Cessna Road property represents a versatile and scalable opportunity in an established industrial hub, with multiple pathways for future growth.”

Located around three kilometres northeast of the city centre, the site is well connected to key arterial roads and lies just off State Highway 3. This enables easy transport of materials and people through the city and onward to destinations north and south.

“This is well recognised as a desirable industrial area, as can be seen by the dynamic cluster of businesses that operate here.

“Well suited for industrial, trade, logistics and service-based firms, including numerous established produce wholesalers, this location offers a high-functioning base on the edge of the city.

“Businesses requiring an environment with operational efficiency and a readily available workforce seek out the area’s balanced mix of industrial facilities, workshops, service yards, commercial operators and residential catchments,” Crawley said.

Reinforcing the area’s appeal for distribution, storage, and light industrial activities is its proximity to Palmerston North Airport, and other important industrial zones such as Kelvin Grove and Bunnythorpe, all of which are within a short drive.

The wider Roslyn area is also home to plenty of everyday business and staff amenities, such as cafés, bakeries, dairies, and takeaway options. More extensive retail and hospitality services are at hand minutes away in the city centre.