New trade-based units in Hamilton

An artist's impression of some of the new units to be built at Te Rapa. Photo / Supplied

A new development of purpose-built units in Te Rapa, Hamilton, is being specifically targeted at trade-based businesses.

Nineteen freehold tilt-slab styled units are soon to be built on what was an under-utilised block of land which had previously housed several dilapidated storage structures and makeshift portacom' offices around a heavy duty storage yard.

The flat site at 23 Bristol Place encompasses approximately 3590sq m of land, and is surrounded on all sides by factories, light manufacturing, engineering plants and warehousing properties.

The new concrete and Colorsteel units to be built on the site at 23 Bristol Place range in size from about 50sq m to 150sq m and are being sold from $199,000 plus GST. Units are available to purchase individually, or in any permutation of multiple sites subject to availability.

With high-stud, over-height roller-doors, and all units having their own off-street parking, the proposed spaces will suit a variety of uses.

The freehold, unit-titled ,work-spaces are being marketed for sale through Bayleys Hamilton and feature in Bayleys' latest Total Property portfolio magazine.

Rebecca Bruce and Jordan Metcalfe of Bayleys Hamilton say the block of terraced units has been designed with small trades-based businesses in mind.

Bruce says the most likely tenancy profile included professions such as plumbers, electricians, builders, audio-visual technicians, drain-layers, mobile automotive mechanics, home-handymen, landscape gardeners, and home cleaning services.

She says the Bristol Place property's location benefits from easy access to main arterial routes and the CBD. Units within the block are being sold with minimal interior fit-out specifications in order to maximise the warehouse floor area.

"They will be sold with kitchenettes and bathroom amenities as standard. Office space and mezzanine level configurations can be custom-built to purchasers individual requirements and will be priced accordingly," Bruce says.

Metcalfe says with vacancy rates in Te Rapa hovering at 1.2 per cent and the majority of new development catering to the larger end of the market, there is an obvious demand for smaller units of this type in Hamilton.

"With huge demand in the market for small industrial units, the developers of 23 Bristol Place have chosen the sizes based on this demand. Potential buyers must act quickly if they are to secure a unit at what is an unbelievable price point of $199,000 plus GST," he says.

He also says that price tag for the entry-price level units will be appealing to potential buyers looking for "storage space" for recreational vehicular paraphernalia — such as motorhomes, racing cars, caravans, speed boats and jet skis.

The units could also appeal to residential property investors looking for entry-level real estate assets in the commercial and industrial property sector.