Last lots in Otaki commercial park

9:16 AM Wednesday June 20, 2018 True Commercial

Lots marked out for sale in the Otaki Commercial Park on the on the Kāpiti Coast north of Wellington. Photo / Supplied

The last remaining lots for sale or lease are now on offer in the Otaki Commercial Park on the Kāpiti Coast north of Wellington. 

The sale presents an opportunity to design and construct new premises in the purpose-built business park, says Dean Anderson of Colliers International’s Kāpiti office. 

Anderson, with colleague Gemma Pettit, is marketing the lots for sale or lease at 46 Miro St, close to the soon-to-be-completed Kāpiti Expressway. 

“The park offers businesses the opportunity to secure well-located commercial sites, which are becoming increasingly difficult to find on the Kāpiti Coast,” says Anderson.

Pettit says lots of between 782sq m and up to 2072sq m are available in the greenfield development - from design & build and up to flexible turnkey options. 

“There is something here for businesses in a variety of sectors which could benefit from moving to one of New Zealand’s fastest-growing localities. There is also the potential to combine two lots to provide sites of up to 4000sq m to accommodate larger occupiers,” she says. 

Roading, services and landscaping are in place in the development, which will provide 42 lots on completion. Several occupiers including Fletcher Construction, Transpower, Riverbank Engineering, Ogo Technology, CSS Technologies and Kapiti Candy Co are already operating from new facilities.

Anderson says the new expressway is providing a tremendous boost to the Kāpiti property market. 

“Significantly quicker travel times to and from Wellington are forecast, which is giving property developers, tenants and investors a lot of confidence in the region’s future.

“Because of this renewed focus on the Kāpiti Coast, it’s becoming harder to secure suitable commercial sites with good access to the new expressway. As a result there’s been considerable interest in Otaki Commercial Park to date, with Stage One nearly sold out and Stage Two now on the market.”

The opportunity to acquire land at much cheaper prices than other industrial areas in Wellington, Porirua and the Hutt Valley is another key attraction on offer at the park, Anderson says. 

“This is a great opportunity for businesses to position themselves in a growth locality where land is still accessibly priced. The regional roading improvements underway also mean fast transportation times to Wellington as well as the central North Island, which is a big benefit for businesses looking to service clients to the north and south of Kāpiti.”

Otaki Commercial Park also offers occupiers ultra-fast broadband, sustainable building design, LED street lighting, a zero-emission stormwater system and a recreational park. 

The development is located in an established commercial and industrial area 500m from proposed interchanges to the Kāpiti Expressway. Along with the Wellington to Levin Northern Corridor Road of National Significance and Transmission Gully roading projects, several major commercial and infrastructure projects are also underway on the Kāpiti Coast which are expected to benefit property owners and occupiers, says Pettit.

“Development is well underway on the Kāpiti Landing Business Park near Kāpiti Airport. Several large-format retail stores are already open and the development is expected to create thousands of jobs.”

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Dean Anderson, Colliers International