Goodman NZ to rescue in space race

Auckland’s industrial market is supply-constrained with businesses at capacity and those requiring additional warehouse and logistics space finding few options.

Goodman NZ, however, has new build-to-lease projects which will provide much-needed new supply, says Michael Gimblett, Goodman’s general manager of development.

Low vacancy levels and a lack of appropriately-zoned development land has caused the shortage and Goodman’s own portfolio is nearly full with no vacant warehouses available.

But its development programme has been accelerated to meet the unprecedented level of demand for warehouse and logistic space.

It includes design-build projects for customers who require tailored solutions, and build-tolease developments on an uncommitted basis.

The build-to-lease projects provide high-quality spaces suitable for a range of new business customers, Gimblett says. “It’s a proven strategy with the 15 warehouses developed last year leased before completion or shortly afterwards.”

To meet future demand a new package of build-to-lease projects include:

* Highbrook Crossing Units, Highbrook Business Park, East Tamaki, a seven-unit development providing 4265sq m of warehouse/showroom space on Underwood St and Business Parade South.

There are six adjoining warehouse units, ranging in size from 335sq m to 595sq m with the seventh a standalone 545sq m facility. These are similar to the seven Parade units opposite, leased before completion late last year and early this year.

* Waiouru Pt, Highbrook Business Park, East Tamaki, has two adjoining warehouses overlooking the Tamaki River and alongside the Esplanade reserve on Waiouru Rd.

These developments provide

1800sq m and 2012sq m of warehouse and associated office space and are due for completion next November but are available for lease now.

* 70 Plunket Ave, M20 Business Park, Wiri. This development at the front of M20 Business Park on Plunket Ave, Manukau, includes a

9130sq m warehouse together with 500sq m of office space.

It is a rare opportunity in a strategic location near the southern and the south-western motorways and presents an opportunity to get in early and tailor the plans to suit requirements.

* 14 Timberley, Westney Industry Park, Mangere, is located close to the airport and SH20 and provides 4970sq m of warehouse and office space.

* 68 Westney Rd, Westney Industry Park, Mangere, is the expansion of an existing facility, providing 7877sq m of warehouse space and 637sq m of enclosed canopy area. This facility will be available October 2020.

Gimblett says the new facilities will provide customers with another option for space requirements. “They are of a size and design that is likely to appeal to a wide range of occupiers and we expect them to lease quickly.”

Several earlier warehouse projects at Highbrook Business Park and Savill Link in Otahuhu will be completed over the next few months. There are also other opportunities within the Goodman portfolio for customers who need distribution facilities.

Roma Rd Estate in Mt Roskill has warehouse space ranging from 5000sq m to 30,000sq m.