"A new owner could alternatively land bank the property for future use or investment. It could also be left as a lifestyle block with a new owner using the land for grazing."
A three-bedroom family house is included in the sale, which Mr Smith said could be used as a holding income while plans are developed for the site or it could potentially be re purposed into a site office or left as a home for a farm lifestyle.
From the industrial development perspective, Mr Smith said Morrinsville was recognised as a cost-effective option for companies looking for prime cheaper land close to Hamilton.
"There has been recent development of industrial sites, while sales of land have proven the demand for industrial titles supporting future development," he said.
"Morrinsville's proximity to Hamilton 29 kilometres away has seen businesses regard the town as a feasible option as other comparable sites in the bigger areas are priced out of the market."
Morrinsville is a town supported by a strong rural economy and recognised as an extension of Hamilton.
"It is regarded as one of the most intensively dairy farmed areas in the world creating a large service industry, although there are other businesses setting up in the town"
The town's population of just over 7,000 is expected to increase to 8,800 people living in 3,768 homes by 2033. That would mean more business and industrial land would be needed, said Mr Smith. A total of 37 hectares of vacant industrial zoned land is located within or on the outskirts of the town. Thirteen hectares will be needed by 2033, according to the Matamata Piako District Council's 30-year town strategy.
However, if most of the demand is for land in town, then the supply will start to run out by 2033, Mr Smith said.
Much of the land located in the western part of Morrinsville's Business Zone is more industrial than commercial in nature. The stockyards and grain silos are a legacy of the historic development of Morrinsville, while more recent service industry businesses have been established under the operative district plan provisions that permit light industry in both the business and industrial zones.
Mr Smith said other industrial businesses have established sites south of the town, in two adjacent areas. The first area, along Morrinsville Walton Road, comprises heavy industries such as fertiliser and chemical manufacturing. The second area, along Bolton Road, includes conventional industries such as a transport depot, concrete manufacturing plant, and other light industries.
The town strategy shows an inner industrial area, adjacent to existing commercial development, on land already zoned Industrial and further development within the outer industrial area located south of Morrinsville also on land already zoned Industrial.
Mr Smith said the inner industrial area will appeal to service industries, dependent on a central location for customer contact. The outer industrial area will have land available to locate new heavy industry as well as light industries that are less dependent on passing trade or customer contact.
"Freight movements are likely to be predominantly from and to the west, in the direction of Hamilton. This will minimise the need for heavy vehicles to travel through the town to access the area," he said.
