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Developers eye land of opportunity in prized Petone business hub

A remediated site has gone up for sale ripe for a substantial commercial development in a Petone business hub known for attracting key projects and big-name occupiers.

The nearly 3,000-square-metre landholding sits in a prime location with over 100 metres of frontage at the high-profile corner of Udy and Bouverie streets.

Decontaminated and compacted to enable its current use as a timber storage yard, the flat, fully fenced business-zoned land is considered by Bayleys salespeople marketing the sale to be significantly underutilised.

Buyers will eye its exceptional development potential in a precinct that embodies Petone’s strong commercial heritage.

Next door is the Imperial Park business park development, whose units attracted near record buyer demand when sold down by Bayleys a few years ago.

For nearly a century the Imperial Park site was home to a large cigarette-making plant, owned since the late 1990s by Imperial Tobacco.

Neighbouring large developments house the likes of Mitre 10 MEGA, the Ministry for Primary Industries, Plumbing World, food wholesalers Gilmours, and Whitireia and WelTec’s Petone campus.

“Now surplus to the vendor’s requirements, the Udy Street property offers buyers the chance to secure what is the only available vacant site in this tightly held area,” said Bayleys salesperson Ethan Hourigan.

“With remediation and compacting works completed, much of the hard work is done. Owner-occupiers, developers and land bankers alike will note that landholdings like this in one of the Hutt Valley’s premier business hubs are as rare as hen’s teeth.”

The freehold property at 29 Udy Street, Petone, is now being offered to buyers with vacant possession from 1 October 2024 and flexible settlement terms.

The site is being marketed for sale by way of a tender closing on Wednesday 24 April, through Hourigan and colleague James Higgie of Bayleys Wellington.

The landholding of some 2,960 square metres sits within the General Business zone under Lower Hutt’s district plan, providing for a wide range of commercial uses.

Higgie said the site was development-friendly, being flat, sealed and of more-or-less regular shape.

“Extensive road frontages of around 45 metres on the southern boundary along Udy street and 60 metres on the east-facing boundary along Bouverie Street will lend excellent profile and exposure to any future development here. The location will further heighten its buyer appeal,” Higgie said.

The land for sale lies a few minutes’ drive from Jackson Street, with its lively hub of cafes, restaurants, and large bulk retailers such as Bunnings, Briscoes, The Warehouse, Smiths City and Kathmandu.

“This is a strategic location which is handy to State Highways 1 and 2 enabling convenient access across the greater Wellington region. Businesses here can be easily reached in under five minutes by road from Lower Hutt and 15 minutes from central Wellington,” Higgie said.

Click here for more information on the listing.

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