Only large industrial lot in Po¯keno
A large industrial landholding with scheme plans for an eight-lot subdivision and dairy plant dubbed the Po¯keno Nutritional Park has been placed on the market.
It comes as competition for Auckland industrial space intensifies, driving occupiers south in search of value.
The consented industrial development on 4.8ha of freehold land at 30 Yashili Drive is positioned in a key dairy processing precinct. It adjoins leading infant formula producer Yashili NZ’s state-of-the-art manufacturing plant and Synlait Milk’s recently completed $260 million facility is nearby.
Bayleys South Auckland salesperson Shane Snijder says a shortage of favourably zoned industrial development land within the Golden Triangle of Auckland, Hamilton and Tauranga has weakened the supply pipeline, creating competitive bidding on a limited collection of available properties.
“The subject property represents the only large industrial lot available for sale in Po¯keno and is expected to attract strong interest from various buyer groups, including developers, add-value investors, land bankers and owner-occupiers who are finding large, cost-effective industrial land with favourable zoning credentials more challenging to identify.
“Future and continuous population
growth for Po¯keno and the South Auckland region – which services a huge catchment area encompassing North Waikato and the booming Drury precinct – is a critical buoy for the area, attracting both public and private sector investment.”
Snijder is marketing the property by tender with colleague Tommy Zhang, closing 4pm, Thursday March 14, unless sold prior.
The development-ready landholding is zoned Business–Light Industrial and adjoins a Residential–Living zone at Flannery Rd.
Zhang says developers may choose to complete the eight-lot subdivision and proposed dairy factory, or look to undertake
a more intensive development project, capitalising on the strong appetite for industrial accommodation.
“Estimates reflect the need for 700,000sq m of new floorspace every year if we are to meet the demands of the current level of migration, yet a shortage of favourably zoned industrial development land in Auckland presents a challenge to delivery.
“Given current supply constraints, more businesses are shifting operations to Auckland’s southern boundary, which is having a spillover effect into North Waikato, where meaningful development is taking place.”