Heavyweight industrial property on the market

ANDREA FOX
Last updated 09:23 23/01/2013
 Mainfreight
FAIRFAX NZ

Big business: Mainfreight’s property in Tasman Rd, Te Rapa, is for sale for $8.2 million.

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The commercial property year in Hamilton has got off to a big start, with one of the city's largest industrial properties on the market and at least two more understood to be unofficially on the block.

In Te Rapa's Tasman Rd, global logistics company Mainfreight is offering its 1.9-hectare industrial-zoned site and modern warehousing for sale for $8.2 million.

The Waikato Times understands another big industrial site in Foreman Rd and the former manufacturing site of motorhome builder, formerly CI Munro, in Kaimiro St, Te Rapa, may also be offered for sale this year.

Mainfreight plans to move from Tasman St to a $30m-plus new base on 7ha adjacent to Ruffells Rd and the main railway line further north in Te Rapa.

Marketing agent Russell Smith, of NAI Harcourts, said the company's 9-year-old 7695-square-metre property on the corner of Foreman and Tasman roads offered a 7195sqm high-stud warehouse, with around 500sqm of modern, open-plan office space and full kitchen and staff facilities. The warehouse has big electric roller doors and drive-through access. The stand-alone property is sealed and fenced with dual-road access and features a truck-wash facility. The layout includes a raised dock and plenty of parking.

Smith said the property would suit a large-scale warehousing operation or an engineering company and was big enough for two separate operations.

Mainfreight was prepared to rent the property at a market rate until its new property is ready, he said.

This option could be attractive to a purchaser who intended to occupy the site but was prepared to wait, or an investor, he said.

Mainfreight managing director Don Braid said the company was awaiting resource consent for its proposed 9000-plus-sqm freight terminal. It would make an immediate construction start once this was received, and he hoped the new site would be ready for operations in 18 months from start.

The new site would have direct rail access and would be as big as the freight operations site of Mainfreight's South Auckland headquarters.

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- Waikato

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