One of the largest parcels of prime industrial land in many years has been converted into a new industrial park.
Strong demand has led to 20 industrial lots ranging from 1000sq m to 20,000sq m being made available in Awatoto, one of Hawke's Bay's most sought after industrial areas.
With limited opportunities of freehold industrial land being available for greenfield developments, the Awatoto Industrial Park is being developed to satisfy owner occupier and tenant demand driven by strong regional growth and supply shortages.
Colliers International industrial sales specialists Rob Nankervis and Peter Chrisp say the park offers multiple advantages to potential owner occupiers or tenants.
"The logistical advantages and development potential of this park are huge with its key Napier and central North Island location, extremely limited development opportunities in the region and solid regional economic growth," Mr Chrisp said.
Colliers says this is a chance to snap up possibly the last freehold industrial opportunity in the Napier area.
"The industrial park would be well suited to any type of industrial activity that wanted to have good access to major transport links throughout the North Island or direct access to the Napier Port for exporting," Mr Chrisp said.
Major businesses operating in the area include Heinz Watties, Turners & Growers, Pan Pac, Delegates, Mr Apple and Whakatu Coldstores.
Hawke's Bay is experiencing an industrial boom through the prosperity generated off the back of the primary sector. In turn, increasing exports of food products from Napier Port are driving growth in the transport sector, with leading transport companies such as Tomoana Warehousing and NZL increasing their footprint in the region.
Mr Nankervis said with this growth in the industrial market as well as Hawke's Bay's central North Island location and strong performance in the horticultural, viticultural and agricultural sectors, this opportunity stands to significantly benefit from the region's future growth.