‘Standout’ industrial site in Tauranga
A “standout” large industrial property with a high-stud warehouse and offices has gone up for sale in a key Tauranga industrial precinct, with the potential for significant future rental upside.
The immaculately presented standalone premises sit on a more than 6200sq m freehold site on Hynds Rd in the Greerton industrial area.
Bayleys salesperson Brendon Bradley said a buyer would benefit from an existing tenancy offering annual holding income of $473,760 plus outgoings and GST.
“Indications are the current tenant, Newline Group, do not intend to exercise their final right of renewal in February 2024. This could open up options for owner-occupiers or add-value investors. A market appraisal points to the potential to secure a higher future rental in the vicinity of $540,000 plus outgoings and GST,” he said.
The property at 3-5 Hynds Rd Tauranga, is being marketed by Brendon Bradley, along with Ryan Bradley, James Hill and Scott Campbell of Bayleys Real Estate. Sale is by deadline private treaty closing on Thursday 16 June, unless sold earlier.
Ryan Bradley said the offering consisted of an approximately 4596sq m building on some
6219sq m of predominantly level land. “The property incorporates an immaculately presented standalone industrial premises with a high-quality fit-out.”
“At the rear of the building is some 2900sq m of high-stud warehouse with pallet-racking capabilities up to 8m high, an approximately
190sq m low-stud workshop, 208sq m mezzanine storage area and a 312sq m canopy allowing for dry loading facilities,” said Bradley.
The warehouse is complemented with a twolevel premium-grade office of some 986sq m. This includes open-plan and private offices, amenities and a showroom on the ground floor fronting Hynds Rd.
“As well as providing an enjoyable working environment, the office area presents an impressive facility for hosting or entertaining clients,” said Bradley.
Hill said that to build this building again in today’s market, “you’d be looking at circa $14 million-plus along with the hassle of council, unforeseen delays, lack of land supply and construction material which are all increasing in value. We think there’s huge benefit in an owner-occupier being able to take advantage of these factors in the current climate.”
The property sits in the Industrial zone under the Tauranga City Plan. Campbell said this zoning permitted a wide range of industrial activities, as well as uses such as trade and yardbased supplies, port activities, and ancillary retail and offices.
“Situated approximately 2km from SH2 and 3km from the expressway leading to Mt Maunganui and the Port of Tauranga, Hynds Rd is close to main arterial routes as well as being centrally located for local activity,” said Campbell.
Tauriko Business Park and Tauriko Crossing shopping centre are approximately 4km southwest.