Truck scale

Large-scale industrial offer arrives in Taranaki market

Significant land ownership and industrial premises in New Plymouth with a long-term lease in place with a leading Taranaki company, and inherent future potential for added value, has been brought to the market for sale.

The combined 3.14 hectare site at the east end of Connett Road in the Bell Block Industrial Estate south of State Highway 3, the main road north to New Plymouth, is held under three separate titles.

The main structure among the 4,844 square meters of buildings was constructed in 2015 for the existing occupant, Symons Group, a successful and evolving transportation company that has been in existence since 1984 and occupies only the entire site.

While there is currently a lease in place for the entire site, the lease structure allows for it to be split to reflect individual titles, giving future flexibility for a new owner.

The parking and truck dispatch operations for Symons are located at the western boundary, there are three modern warehouses located in the center – one with adjoining two-story offices – and at the eastern boundary there is a large yard of storage of equipment and pipes.

The large trucking depot includes a car wash, workshop and staff facilities, security fencing and internal roads connecting the three sites.

The buildings are 100% new construction standards and the property generates a net income of $ 640,969 plus GST per year with a built-in rental growth clause.

It will be sold by auction on Thursday 9 December via Bayleys.

Sunil Bhana and Mike Houlker of Bayleys Auckland are teaming up with Iain and Darryl Taylor of Bayleys Taranaki to sell the Connett Road East property which has an underlying zoning of Industrial C and the flexibility to be owned in three titles.

As the industrial sector continues to dominate the broader commercial real estate market in terms of returns and capital gains, Bhana said this New Plymouth offering will adapt to investor demands for well-leased properties with future potential.

“Auckland-based investors have fought for all the large-scale industrial opportunities that present themselves both in the greater Auckland area and in the New Zealand region,” he said.

“With an extremely tight supply across the country for industrial inventory and with a documented shortage of future development land, this property in the thriving Bell Block neighborhood will have considerable appeal to investors. “

Iain Taylor said that over the past three years, industrial estate land in New Plymouth has doubled in value and the Connett Road property has the added benefit of being one of the few to have a profile relative to the State Highway.

“The Symons Group took advantage of this exposure and is well established at the site which met their operational needs in the transportation and energy transportation sectors.

“With nearly 40 years in the industry, Symons is a widely recognized business name both in the region and beyond and has diversified its service offering in response to changing market dynamics – especially more than they are essential service providers. “

Taylor said there have been very few industrial assets of this scale on the market in recent years and, with Symons occupying the entire site and still having 6.75 years to run on its lease, an investor with no intervention recognize the intrinsic value of the property.

“As it is held in three separate holdings, there is huge potential going forward given the growth seen in Taranaki and continued nationwide demand for industrial assets.

“Bell Block is also solidifying its position as a very strategic part of New Plymouth’s history with further growth expected as a result of road initiatives that will streamline movements around the city and the wider region.”

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