Business park aimed at owner occupiers and developers

The site of the planned Brigham Creek Business Park borders the SH18 motorway realignment in Hobsonville. Photo / Supplied

A new industrial business park is planned for a 19.1ha block of land alongside the State Highway 18 motorway realignment in Hobsonville, West Auckland.

In one of the few significant bare land development site acquisitions in the past two years, Brigham Creek Business Park has acquired the former farm land for $10 million, or around $50sq m.

The sale was negotiated by Stuart Bode of Bayleys Auckland, Daryl Devereux of Bayleys North Shore Commercial and Terry Jones of Bayleys Northwest Auckland.

Jomac will manage the development of the Brigham Creek Business Park development, which is strategically located on the Hobsonville corridor. The site has good access to the new Auckland Ring Road (SH18), which is ahead of schedule and is set to open in April 2011.

Mark McKearney, Jomac's property asset manager, says planning is under way for the new industrial park, and resource consent will be applied for with a view to commencing earthworks in summer 2011-2012.

It is proposed that sites will be developed ranging from around 2000sq m and upwards, which will be available for purchase by owner-occupiers and developers.

McKearney says Brigham Creek Business Park hopes to be able to price the sites starting from $300sq m.

Jomac will also be offering design-build options for tenants, providing a turn-key solution to occupants from planning through to construction and relocation.

McKearney says they will be looking to provide businesses with buildings of a similar standard to the Highbrook Business Park at East Tamaki.

Devereux, a principal of Bayleys North Shore Commercial, believes the natural growth for Brigham Creek Business Park will come from the tenants and owner occupiers currently struggling to find space in the North Shore's industrial business parks.

"Industrial land has pretty much run out on the Shore and the small number of well located vacant lots remaining are likely to be absorbed over the next two years," says Devereux. "Brigham Creek Business Park will provide a solution for the North Shore warehouse tenant, when the only real choice has been relocating to South Auckland or travelling further away from Auckland's business hub to Silverdale.

"This is a foundation site for the Hobsonville area with huge visibility to passing traffic and is located less than one kilometre from the new motorway's on and off ramp."

The State Highway 18 realignment, which will become part of the Auckland western ring route connecting Manukau City with Waitakere City and North Shore City, will provide an alternative to the heavily congested State Highway 1.

"When this is completed, it will further enhance the already good transport links the property enjoys, and reduce travel times to the port, airport and the major commercial and industrial precincts elsewhere," says Devereux.

"In addition to plans for the Hobsonville corridor, major residential and commercial developments at the nearby Hobsonville airbase have commenced and the proposed expansion of the Westgate town centre will transform the area into a dynamic commercial hub."

Bode says it appears likely that industrial land values have now bottomed out. "In the current financial climate sourcing funding to acquire bare land, which generates little if any income, remains a challenging issue for investors and developers."