Positioned less than a kilometre from the centre of fast-growing Richmond, the more than 1.8-hectare freehold site offers a chance to secure a sizeable holding of scarce industrial land in a sought-after location at the top of the South Island.
The property is partially occupied by various tenants on monthly leases, generating a total monthly income of $7,716 plus GST.
Bayleys Nelson Commercial and Industrial Director Paul Vining said this would provide a useful holding income for new owners while they investigate all the options and the opportunity to add value and develop the property.
“Alternatively, the monthly lease terms mean there is a ready opportunity for an owner-occupier to buy and move onto the site.
“As such, this site represents a blank canvas for buyers and we expect to see interest from purchasers across the spectrum – from owner-occupiers to add-value investors, developers and land-bankers.
“The strategic ‘top-of-the-South’ location should also ensure buyer interest comes from well beyond the region,” Mr Vining said.
The freehold land and buildings at 6,10 and 12 McPherson Street, Richmond, are being marketed for sale by deadline sale closing on Wednesday 1 December, through Bayleys Nelson.
Mr Vining said the property consisted of three freehold titles with a combined land area of some 18,440 square metres.
A number of buildings are spread across the site, including offices, warehousing, and truck-washing, maintenance and fuelling facilities. Mostly dating to around the 1960s, these occupy a relatively small part of the site with a combined floor area of some 840 square metres.
“The McPherson Street site contains ample area for car parking and outstanding access for trucks with plenty of room for manoeuvring, storage and maintenance,” Mr Vining said.
“An NPD truck-fuelling station on-site creates a huge benefit and removes the requirement for trucks and machinery to navigate the busy and tight fuelling stations at the bottom of Richmond’s Queen Street.
“The site enjoys wide frontage to McPherson Street and expansive exposure to busy State Highway 6, plus direct access to main arterial roads linking Nelson Airport, Port Nelson, Tasman and the rest of the South Island.”
Light Industrial zoning under Tasman District Council’s district plan allows for on-site activities including manufacturing, processing, packing, storage, maintenance or repair of goods.
“This zoning offers a new owner the potential to further develop the land to create new revenue streams.
“Properties neighbouring the McPherson Street site are home to a rich mix of existing activities such as freight handling and transport, waste management, equipment hire, fruit packing, timber yards, automotive and building supplies,” said Mr Vining.
The site’s advantages were further heightened by its position within one of the South Island’s fastest-growing locations, he said.
“Richmond is expanding at a great rate with multiple residential and commercial developments underway. Land is only increasing in demand as the region’s population continues to swell.”