Affordable industrial sections released in Central Otago growth hub
Astrategically positioned new industrial subdivision located off Ree Cres in the booming Central Otago town of Cromwell is now on the market through Mark Simpson and Rory O’Donnell of Colliers International.
The large 4.7ha parcel of Industrial land has been acquired off the Central Otago District Council with Resource Consent recently lodged for subdivision into 12 lots varying in size from 1600 square metres to 1.15ha.
Simpson says the growth experienced in and around the Central Otago Region, including Queenstown and Wanaka, is driving very strong demand for transport and logistics related uses that support tourism, construction and the viticulture/horticultural sectors.
“Cromwell is becoming more of a growth hub, but also a more desirable place to live that’s now very well serviced. This has been reflected in strong population and residential growth in the area,” he says.
The smaller more affordable lots also mean businesses can acquire land now for future growth without having large amounts of equity tied up. Titles are expected from mid-2018. Strategically situated within proximity to Central Otago’s main arterials of Barry Ave and McNulty Road, this subdivision is the ideal base for a range of occupiers and uses.
O’Donnell says the population and construction growth in the nearby booming tourist hubs of Queenstown and Wanaka is seeing residential and commercial occupiers further establishing themselves in Cromwell with a longer-term commercial, residential and lifestyle perspective.
“The increasing demand for Cromwell industrial land is being also fuelled by the shortage of affordable industrial opportunities in Queenstown, making this subdivision an attractive opportunity,” he says.
“More specifically, growth in the primary sector has led to strong residential growth for Cromwell, as well as its location within easy reach of the booming tourist hubs of Queenstown and Wanaka, serving both markets.”
Zoned Industrial Resource Area the flat, easy to develop land is on the market in flexible site sizes with expressions of interest sought by 7 December 2017.
For further details, contact Mark Simpson (027 490 6394) or Rory O’Donnell (027 445 3982). Website http://www.colliers.co.nz/148247/