Mount Maunganui's first large industrial subdivision to be created in the past five years is about to go on the market, subject to resource consent approval.
Saturday, July 24th 2004, 1:16AM
by The Landlord
Four Auckland-based investors in Quay Land Holdings recently bought the 14.1ha block less than a kilometre from the gates of the Port of Tauranga for $16 million. It is one of the largest commercial deals in the port and beachside town, outgunning a $14.2 million sale two years ago of an industrial block in McDonald Street with seven buildings on five titles.
Quay Land Holdings plans to subdivide the land into 28 industrial lots ranging from 1500sq m to 2ha on perpetual leases. It has a rail siding running almost the entire length of the site on its southern side.
"There are no other blocks in the area for subdivision, and companies wanting to expand are stymied because of land restraints," says Simon Clark, Tauranga director of Colliers International, who brokered the latest deal and the earlier McDonald Street transaction.
