Developer moves to ‘cash up’ and sell last units in Southport Park project

Two versatile new industrial units going up for auction offer a unique chance for occupiers to set up shop in a thriving business hub beside Hamilton Airport.

The newly constructed tilt-slab units each span some 600 square metres. Each is configured with two separate warehouse tenancies, with flexibility to combine these into one – maximising the options for owner occupiers or investors.

The two vacant units sit alongside each other in a brand new building within a development known as Southport Park.

“The developer is now cashing up and wants these last two units sold so they can move their focus to other projects,” said Bayleys salesperson Luke ten Hove.

“To astute purchasers, these properties will offer real value as a ‘turnkey’ investment – without the hard work and stress of a new build, such as rising build costs, time delays, development finance and interest charges.”

Bayleys Real Estate estimates the individual units could each lease for around $45,000 plus GST to $48,000 plus GST, giving a strong return on investment with a combined rental of more than $90,000 plus GST and outgoings.

With a combination of warehouse, office and storage areas, they are seen as ideal premises for an array of industrial purposes, including manufacturing, warehousing and distribution. Their position within the airport business zone assures occupiers of exceptional air and road transport links.

Units 6 and 7, 19 Sharpe Road, Rukuhia, are being marketed for sale individually or together through Luke ten Hove and Alex ten Hove of Bayleys Hamilton.

The properties will go under the hammer at an auction on Thursday 2 May, unless they are sold prior.

Luke ten Hove said each unit was divided into two self-contained tenancies encompassing a clear-span warehouse with a more than seven-metre stud height, plus office and kitchen facilities.

“Full-height roller door access to each tenancy enables them to be leased out separately, or they can be combined by removing an intertenancy wall, giving flexibility to investors or owner-occupiers. Each unit comes with six dedicated car parks.

“Extra car parks created as part of the Southport Park development are available for purchase with each unit if required.

“The properties sit within Waipa District Council’s Airport Business Zone, which provides for various industrial and business activities, including offices and limited retail, in an integrated mixed-use business park,” Luke ten Hove said.

Neighbouring occupiers include Storage King, Trade Depot and Torpedo 7 DC, as well as other trade and equipment suppliers and aviation-related businesses.

Alex ten Hove said the location beside Hamilton’s airport and key roading links was a major attraction of this fast-developing industrial hub.

“Businesses here sit just off State Highway 21, and within a few minutes’ drive of State Highways 1 and 3. This position within New Zealand’s economic ‘Golden Triangle’ provides ease of access to Hamilton, Cambridge and Te Awamutu, as well as Auckland and Tauranga.

“The well-designed units for sale have the flexibility to accommodate various business needs and their convenient access to road and air transport networks facilitates seamless logistics and operations.

“They offer a ready solution for owner-occupiers or investors looking to establish a multi-tenanted investment underpinned by a location which is assured of future occupier demand.

“With the Hamilton Airport industrial hub experiencing rapid growth and development, investing in these units promises long-term potential for capital appreciation and rental income,” Alex ten Hove said.

Click here for more information on the listing.