Sections in Eastgate Business Park with Rotorua Airport and Lake Rotorua in the background. Photo / Supplied
The final five freehold lots available for development are for sale in the 23ha Eastgate Business Park, opposite Rotorua Airport and only 12 minutes' drive from the Rotorua CBD.
"This sale gives owner-occupiers, developers or add-value investors a last chance to establish a presence in one of New Zealand's most successful business parks," says Beth Millard of Bayleys Rotorua who, with colleague Brei Gudsell, is marketing the lots for sale by tender closing at 4pm on Wednesday May 9 – unless they sell earlier.
Millard says the property for sale is a large, flat, land holding of 1.5791ha in five titles which range from 1825sq m to 4866sq m.
"The lots are ready to develop, with utility services and roading already in place and a cul de sac providing access to the rear of all five lots," Millard says. "They're also in a high-profile location with three of the titles having significant frontage to Te Ngae Rd, doubling as State Highway 30, which connects Rotorua with the Bay of Plenty."
Wahanga-A-Rangi Crescent borders the land on the three sides while a short distance north is the intersection with State Highway 33 which connects Rotorua to Tauranga.
"Along with being strategically placed across the road from Rotorua Airport, this prime piece of real estate has 23,000 vehicles passing it every day with the Rotorua CBD and Port of Tauranga being within an easy travelling distance," Millard says. "The business park's closeness to Rotorua also makes it an easy commute for employees."
She says the vendor's preference is to sell the land as one block, but tenders will also be considered for individual lots.
"The property provides excellent options and scope for owner-occupiers to expand their businesses. If required the vendor, Eastgate Developments, could design and build premises to a purchaser's requirements – perhaps with space for a tenant wanting high exposure to large volumes of passing traffic.
"Alternatively, the lots for sale could also appeal to developers seeking a premium location with an established track record and surrounding quality occupants. They could also attract investors looking for opportunities to add value."
The five lots for sale comprise:
Lot 1 of about 4866sq m with frontage to SH30 and Wahanga-A-Rangi Crescent;
Lot 2 of around 2465sq m with frontage to SH30;
Lot 3 of approximately 2570sq m with frontage to SH30;
Lot 4 of about 2146sq m with frontage to Wahanga-A-Rangi Crescent; and
Lot 5 of around 1825sq m with frontage to Wahanga-A-Rangi Crescent.
Millard says a site-specific Business and Innovation 3 zoning is one of New Zealand's most flexible zonings with a wide range of uses including industrial, offices, retail, tourist accommodation and other commercial enterprises, and residential.
"The effects-focused zoning means that - providing the activity does not adversely impact on neighbouring properties - the chances of gaining consents are very favourable," she says.
"The zoning gives wide scope for new or existing businesses to relocate and purpose-build from scratch to ensure a premium result is achieved that specifically addresses their needs."
Gudsell says the commercial opportunities offered by being part of the Eastgate Business Park are evidenced by a diverse range of businesses and organisations that have already chosen to base themselves in the complex.
She says the first company to secure a site was coatings and aerosol manufacturing company Damar Industries which has subsequently grown substantially.
"It has developed a $46 million, state-of-the-art hazardous substances handling and filling facility - the largest of its type in the country. Spanning a 3ha site, Damar occupies about 16,004sq m of buildings and has a large vacant lot across the road for additional parking and possible future expansion."
Another early Eastgate entrant was the National Training Centre for the NZ Fire Service.
"The size and location of the park allowed for the development of the country's only fire training facility across 11 sites," Gudsell says. "The $10 million state-of-the-art centre, which can train over 1500 fire fighters a year, encompasses three buildings and a 6685sq m concrete training yard.
National wholesale distributor Bidfood Foodservice is an Eastgate neighbour which established its main distribution centre on 6006sq m of land within the business park 2002. The national wholesale distributor provides a complete range of food and non-food products to the foodservice and hospitality industry, from small cafes through to New Zealand's largest businesses.
"Closeness to the Rotorua CBD and the airport – along with quick access to the region's lakes and Bay of Plenty coast, was a factor which attracted Storage King to Eastgate," says Gudsell.
"Specialising in both commercial and domestic storage, Storage King has developed clean, dry and sought-after units especially suited to boat, campervan, caravan and car storage."
Another company, Superior Storage occupies a 7211sq m site encircled by electric fencing. It uses the latest technologies to offer a simple swipe card entry system which opens the gate and turns off the alarm in different sections of its property.
Roading, construction and aggregate supplier Fulton has a storage yard in Eastgate on the corner of Wahanga-A-Rangi Crescent and Katoro Drive; and Fonterra has just built a custom-made distribution centre in Wahanga-A-Rangi Crescent.
Other businesses at Eastgate Business Park include traffic sign manufacturers and traffic management company Combined Road and Traffic Services; road, tunnel and smart lighting provider Techlight Limited; Checkmate Saws, a leading edge industrial cutting technology company; insect and bug control company Ecomist Systems; and Mike Pero Mortgages.
The business park also has 12 multi-use units, some of which have upper level apartments and storage below.
Gudsell says the Eastgate Business Park was created to fill a need for commercial and industrial land close to Rotorua - particularly for large operations.
"The park originally established 22 individual sites with strict covenants to ensure the highest standards of development and to provide a quality working and living environment.
"Eastgate Developments wanted to accommodate heavy industrial businesses and other occupants like the NZ Fire Service which had unusual but very necessary requirements. However, mindful of the potential adverse environmental impacts of some industries, Eastgate focused on establishing a business park that was both environmentally and user-friendly."
Gudsell says the creation of a dual lane roundabout at the southern end of the land for sale will further enhance the value of Eastgate's location.
"It will give additional, quicker access from State Highway 30 into Eastgate Business Park for traffic travelling in both directions; and the roundabout will also link to Rotorua Airport providing enhanced airport access for Eastgate occupants.
"The roundabout is very timely given Rotorua's projected increases in traffic, tourism and freight growth. It is set to be completed in advance of the location reaching a trigger-traffic volume point of 2000 vehicle movements in and out per day."
Vendors were living 700km apart while waiting for a buyer.