T¯akapu Rise freehold industrial park opportunity
The first stage of a design-led industrial business park development just north of Wellington city has been launched to the market as investors and owner-occupiers in the region demonstrate an appetite for industrial property.
The release of an initial 32 freehold units within the proposed 60-unit Ta¯ kapu Rise development in William Earp Place, near the Grenada interchange adjacent to State Highway 1, has been met with enthusiasm by the market.
With deposits from $36,800, early commitments have already seen four units sold, 10 are currently under contract, and a further six are under offer or on hold for interested parties.
Ta¯ kapu Rise is being spearheaded by successful Wellington developers Rosco Industrial, who bring 40 years of industry experience in the region to this new project which is due for completion mid-2022.
The development is being undertaken by the proven team behind the successful and established Silverstream Industrial Park, the Grenada and Gracefield Business Parks and the fresh-to-the-market Imperial Park development.
Bayleys Wellington Commercial sales team of Bhakti Mistry, Fraser Press and Ethan Hourigan are marketing Ta¯ kapu Rise.
The units are being sold with fixed prices ranging from $368,000 - $899,000 plus GST (if any) and the development is due for completion mid-2022.
Mistry said Ta¯ kapu Rise will offer the investment and owner-occupier market a sought-after foothold in the Wellington region’s industrial sector.
“In the wake of pandemic-induced structural change in the employment market, we’re noting more self-employed people wanting to secure their futures with a business premises that they have tangible control over.
“Meanwhile, investors need somewhere to put their dollars to realise a decent return on investment and the industrial market continues to outrun other property sectors in this regard.”
The freehold units on offer at Ta¯ kapu Rise have been designed by Wellingtonbased Bonnifait-Giesen Architects, and range in size from an entry-level 46sqm through to 117sqm with roller door or fixed glass panel frontage options. Stud heights range from 5.4 – 8-metres.
The fitout includes a bathroom with the flexibility to customise and include kitchenettes and mezzanines. The site will be landscaped, have a sophisticated security system and there will be two exclusive car parks per unit.
Construction will comprise concrete slab with steel studs, pre-cast concrete panels and profiled metal cladding to the exterior, and aluminium joinery.
Mistry said the units will provide a mix of service retail, office and industrial workspaces and it is likely that demand will quickly outstrip supply in this popular location.
The pivotal location of Ta¯ kapu Rise allows easy access to both the northern and southern motorway links to Johnsonville, Wellington CBD, the Hutt Valley, airport and Transmission Gully arterial.
“A freehold, purpose-built property with strong tenant appeal stacks up well with financiers from a lending perspective – particularly for the entry-level units.”