Large industrial site for sale at 96 Austin Street, Onekawa, Napier

The site could potentially add to industrial and retail businesses of Onekawa in future.

A large Onekawa industrial site seen to have significant development potential is up for sale.

The 2.96ha property at 96 Austin Street is currently leased to ContainerCo, which uses it for container storage.

Calum Ironside, a commercial broker for the appointed estate agency Colliers Hawke's Bay, said opportunities to buy land for development in the area are few and far between.

"This is an incredibly rare chance to secure a huge site with significant upside in Napier's most tightly held and established industrial hub," he said.

"Onekawa is highly sought by tenants due to its excellent access and proximity to major residential areas and a good source of labour."

The property sits almost adjacent to Prebensen Dr, providing easy connectivity to Hawke's Bay Expressway and Port of Napier.

Colliers commercial broker Rob Nankervis said the site offers major development opportunities through subdivision, with the vendor having draft plans to split the property into three or nine lots.

"A new owner could purchase the entire site and further explore a new development along these lines, capitalising on strong demand for smaller vacant industrial sites," he said.

"The property's huge potential in the congested Napier industrial market – underpinned by the increasing rarity of similar offerings in the national and local arenas – makes it a must-consider for buyers with big aspirations."

With the likes of Mitre 10 Mega and the soon-to-be-completed Kmart development nearby, the site could potentially add to the industrial and retail businesses of Onekawa in future.

ContainerCo's lease to the site expires in April 2021.

The property comes to the market as a single site or as three subdivided lots of 5668sq m to 1.58ha, pending resource consent.

Colliers International has been exclusively appointed to market the 29,645sq m property for sale by deadline private treaty closing at 4pm on Thursday, October 8, unless sold prior.