Commercial -
New complex offers The Works to meet rising ‘micro industrial’ demand
Units in a new look multi-unit complex in Elsdon are being snapped up fast as demand for ‘micro industrial’ premises grows among buyers turning their hand to commercial property.
Positioned in the heart of the Elsdon industrial precinct, in fast-growing Porirua, The Works development has been in hot demand with over 70 percent of 86 units already sold to a mix of investors and owner-occupiers.
The developer is now offering the final 21 units, ranging in size from 190 square metres down to just under 20 square metres.
Designed by respected national architects Designgroup Stapleton Elliott, the new industrial village is now under construction to high standards with maximum flexibility for users in mind.
Each unit-titled space offers a six-metre stud height, with optional extras including a mezzanine floor or glass frontage. Solid concrete construction will ensure a seismic rating of 100 percent-plus of new building standard.
Users will benefit from excellent truck access, a container bay for loading and unloading goods and 24/7 complex-wide security. All available spaces will be equipped with sprinkler fire prevention systems.
All but the two smallest units come with dedicated parking, ranging from two to five spaces per unit.
The freehold strata-titled properties at The Works, 12 Mohuia Crescent, Elsdon, Porirua, are being marketed for sale by negotiation, through Mark Walker of Bayleys Wellington Commercial.
Priced from $139,000, individual units can be secured with a $5,000 deposit, with completion staged from October 2023.
Walker said the most popular size to date had been the 50-square-metre option, of which only 12 remain. Unit floorplans are available on request.
“The extremely affordable entry price point means there is strong demand and we would recommend potential buyers act with urgency to secure one or more of the remaining units,” said Walker.
“Flexible industrial zoning, combined with the highly versatile nature of the units, will provide for a diverse community of users, such as those seeking offices and showrooms, warehousing, distribution points for online retailing, or trade or creative workshops.
“Others may seek them as an extension of household storage for personal ‘toys’ such as boats, campervans or collectable cars. For this type of user, an entry-level investment in a unit of this size could be an interesting alternative to hiring space in a self-storage complex.”
Walker said this style of ‘micro industrial’ business park had taken off in recent years, giving rise to numerous developments in Sydney, Auckland and Wellington.
“With the scarcity of commercial space in the cities, and the emergence of new small buyers including former residential property investors, developments like these cater to a significant demand in the market,” he said.
The Works complex sits on the former site of the Whitireia Trades Campus, within an established industrial precinct typified by a mix of low to medium stud warehouses used for manufacturing and storage.
The area’s desirability is underlined by the presence of notable businesses such as Whittakers, Bunnings Warehouse, PlaceMakers, Turners Cars and Mitsubishi.
The Works lies within walking distance of Porirua’s city centre, with its bulk retail outlets, numerous hospitality operators and the North City Shopping Centre. It is within a three-minute drive of State Highway 1 via the new Kenepuru Drive on-ramp, ensuring easy access to the Transmission Gully motorway and Wellington's CBD.
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