Chance to spread out or add value at Bay industrial site

An industrial property for sale in Te Puke, Bay of Plenty. Photo / Supplied

A semi-developed industrial property in Te Puke, Bay of Plenty, is for sale, presenting an opportunity for an industrial operator requiring plenty of space or as an add-value proposition for an investor-developer.

Graeme Coleman of Bayleys Tauranga says the property in Station Rd, only 700m from central Te Puke and just 22km from the Port Of Tauranga, has tangible benefits for an industrial user who can see the upside of being based slightly away from the main Bay of Plenty hub.

"A dollar goes a lot further in Te Puke, and with direct access through to the port via State Highway 2, this property is well-situated for a user with distribution requirements or a company that needs to be close to the main arterial route."

The 3.809ha property is being offered through Coleman by deadline private treaty closing March 28.

"It will have vacant tenancy if required, or the current tenant, the TR Group, which has some mutual shareholding in the land being sold, will enter into a lease for a period of up to two years with an approved purchaser," Coleman says.

"Terms would be negotiated between vendor and purchaser, but this could provide a holding income stream while a new owner firms up future plans for the property."

TR Group specialises in the lease, rental, hire, sale and GPS tracking of heavy vehicles throughout the country, and is New Zealand-owned and operated. Its head office is in Auckland and the firm has 10 branches nationwide.

Coleman says 1.6ha of the total site is usable, having been developed in recent years.

There are two 241sq m buildings on-site along with a small office and ablution block.

Compact loose metal covers the balance of this component of the property, providing yard area for the tenant's vehicle operations.

The majority of the remaining 2.2ha has been excavated with fill and compaction undertaken.

"There is now just a small area to the northern boundary remaining to be filled. All that is required now is a tidy-up to ready this part of the site for more intensive usage. Geotechnical reports are available for the entire site."

There is also the possibility of developing the site into smaller industrial parcels, says Coleman.