Estate sale frees industrial area

Wednesday 14 April 2004

Possibly the last and best piece of vacant land in Auckland's blue chip industrial belt has been put up for sale.

By The Landlord

The 6.6ha of greenfields land is at 791 Great South Rd, Mt Wellington, opposite Sylvia Park Rd.

Its appearance on the market is the result of a deceased estate sale.

Colliers International director Charles Cooper says the site is in the middle of a highly sought-after industrial area where land is scarce.

Those sites remaining are tightly held by developers or owner/occupiers who have earmarked uses for them and are mostly unwilling to sell, preferring to "land bank" or hold on to their sites for the long term.

The late owner bought the site 14 years ago from New Zealand Railways, when the former Government department's assets were sold.

He had long-term plans to develop the land into an industrial estate.

During his ownership, the land was re-zoned by the Auckland City Council from Business 3, which classified it as "transport", to Business 6, which gives a new owner greater and wider development options up to the heaviest industrial zone usage.

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