Opportunity for smaller industrial businesses

Opportunity for smaller industrial businesses to secure quality Te Rapa units

Six newly-completed industrial units in the evolving Te Rapa Gateway industrial park are now available for occupation, with similar units in the first stage of this development having been snapped up pre-COVID-19.

Developed by Te Rapa Gateway Limited, the six new-build units at 31-41 Clem Newby Road, Te Rapa, form part of its wider 60-hectare Te Rapa Gateway precinct which is underpinned by robust and improving infrastructural credentials.

Te Rapa Gateway is Hamilton's fastest growing industrial area and its zoning provides for a diverse range of warehousing, bulk storage, processing and manufacturing.

The units currently for lease are adjacent to the already tenanted similar units at 680-740 Arthur Porter Drive. There is full drive-through capability between Arthur Porter Drive and Clem Newby Road which strengthens the access and locational benefits of the lease offering which sits alongside the Waikato Expressway.

Leasing agents Jordan Metcalfe and Alex ten Hove of Bayleys Waikato say they’re anticipating sound enquiry on the units from proactive industrial businesses looking for quality premises that will position them strongly in New Zealand’s economic recovery phase.

“Feedback we’re getting from many occupiers is that they may need to downsize to remain productive yet competitive in the changed market we find ourselves in post-lockdown,” says Metcalfe.

“Then there is the first-time tenant who, having experienced the push-pull demands of working from home, has decided to back themselves and move to dedicated premises where they can move their businesses ahead in a fit-for-purpose location.”

The units are of tilt slab construction and offer high-specification air-conditioned office space with ultra-fast broadband across two levels, kitchenette and staff amenities, roller door access to a high-stud clear-span warehouse, generous canopies and parking.

Configurations range from 289sqm-544sqm warehousing/showroom space with supporting office amenity of 120sqm-140sqm and separate access. Associated allocated car parking ranges from four to eight spaces across the offering.

“Given the shortage of quality new-build property of this size for lease in the Te Rapa area, the annual rentals of between $58,830 and $92,210 plus GST net per annum are competitive,” says Metcalfe.

“That said, the landlord is proactive and would consider some incentives on a case-by-case basis.

“There is tangible opportunity for a smaller business to leverage off the success and activity of larger businesses in the area and help to underpin the wider industrial market in Te Rapa.”

The units are of a size and rent that could work for trade showroom businesses and service providers that see value in being located close to leading operators that include NZ Windows, Bidfood, Fosters Construction, The Tool Shed and Hynds.

New rail initiatives and improved connectivity to nearby The Base commercial/retail hub are also expected to fuel interest in these units.

“With work underway on a new station for the Te Huia Hamilton to Auckland commuter train service, and a pedestrian connection from the industrial park to The Base, business owners at Te Rapa Gateway stand to benefit,” says Metcalfe.

“Improved commuting options will help attract staff from outer catchments and The Base, with its broad retail, café and service offerings, will be more easily accessible.”

Other infrastructural and business development projects in the region also strengthen the location as a place to anchor an industrial business from.

“As the Golden Triangle narrative for Auckland-Hamilton-Tauranga gains further traction in the market on the back of inland port initiatives, the completion of the Waikato Expressway and the growing appeal of Hamilton as a place to do business, industrial units such as these will be in demand from businesses wishing to be part of the region’s growth trajectory.”

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