Small is good - Tauriko work, trade, store industrial units
Superbly designed 10-unit ‘Work, Trade, Store’ development on strata freehold titles has been placed on the market for sale. With four units under contract over the last month, units 3 - 5 are still available for sale which comprise of 51.8sqm (approximately) self-contained tradesman and storage workshops.
The Units located at Lot 558 Kiriwehi Street, Tauriko are being marketed for sale with each unit having an asking price of $349,000 plus GST (if any) through Myles Addington and Mark Walton of Bayleys Tauranga.
The development features dual entry/exit site for ease of manoeuvrability and located close to key arterial roading network. The development is due for completion by August 2023 (subject to consent and final code of compliance).
Superbly located in the heart of the booming Tauriko Business estate, this small boutique development is perfect for a range of businesses and storage.
On the doorstep to The Lakes, Pyes Pa and surrounding residential, these warehouses are also well placed for buyers storing things like boats, caravans, campervans and other household items that are best undercover and secure.
As the industrial leasing market around Tauranga continues to show minimal vacancy, it’s tough for business owners looking for well-located space – and smaller business owners are feeling the squeeze. Construction-related tradespeople, small e-commerce store operators and other SMES, along with those looking for vehicle storage or compact workshop space, are finding it increasingly difficult to secure a modestly sized accessible industrial units to rent.
Largely that’s because this segment of the property market has become sought-after by owner-occupiers – especially post-pandemic – as many people have either started a new business, or evolved an existing one, to fit into the new business landscape.
Developers have recognised the demand for high-quality small warehouses or units in high growth locations, but quick uptake from owner-occupiers means that very few of the new-build stock makes it to the leasing market. Mark Walton, director Bayleys Tauranga Commercial says while there has been an uptick in development of smaller industrial unit complexes in the Tauranga region in recent years, the reality is very few units come up for lease. “The efficiencies and price point of these units when they are sold down off the plans has made them particularly popular with owner-occupiers looking for some security over their workspace and to avoid being at the whim of a landlord,” he explains. “With vacancy of sub-1% across the main industrial precincts in the Tauranga region, any new developments that have come on-stream have sold down rapidly, with very few being bought by investors.”
Mr Addington said this positioned it incredibly well for the long term, located just off Kaweroa Drive designed to accommodate a future cross-city link between State Highway 29 (Kaimais) and State Highway 36 (Pyes Pa). “A new residential zone comprising over 3,500 sections planned for Tauriko West would support further growth and employment in the area,” Mr Addington said.