With Cambridge emerging as an important business node within the Auckland, Hamilton, Tauranga golden triangle economic zone, an A-grade industrial property in the Hautapu precinct will give an investor a solid presence in an identified growth area.

The impressive near-new 8,048sqm facility on a 2.19ha flat freehold site at 296 Peake Road, Cambridge is zoned Industrial under the Waipā District Council’s District Plan. The property is occupied by wholesale glass distribution and processing company Glasslines NZ Limited, which has an almost 40-year track record in business.

The high-spec’ purpose-built facility features four 5-tonne gantry cranes running the full length of the warehouse. Eleven roller doors provide access to the warehouse on three sides of the building, while the single level office accounts for a low office to warehouse ratio of just 6.6-percent. Externally there are dedicated container set-down areas, 68 car parks and a large concrete yard.

Utilised as Glassline’ central processing and distribution centre, the firm will commence a new 10-year lease from settlement. The property returns annual net income of $1,400,000plus GST and outgoings with the lease having fixed annual rental growth, mid-lease reviews to market, and two, five-year rights of renewal.

The property is for sale by negotiation through Sunil Bhana and Scott Campbell, Bayleys South Auckland, and Willem Brown, Bayleys Waikato.

Bhana says the building itself represents a best-in-class, future-proofed asset with the low site coverage able to accommodate expansion in time.

“The warehouse facility has been built to exacting standards and occupier requirements, and incorporates features not typically seen in new development product such as provision for future power capacity, channels in the warehouse floor for machinery, and high floor loadings.

“Glasslines is an entrenched tenant with significant investment made in plant and equipment. It’s an innovative business supplying a broad range of glass products to the New Zealand market including certified tempered safety glass, double and triple glazing, picture framing glass, splashbacks, and laminated safety glass.

“As an investment opportunity, the standalone building with its sound tenant covenant and long-term capital growth potential is a standout in the Cambridge market, and an asset of this calibre could hold its head high in any metropolitan market.”

The Hautapu precinct is attracting big players in the industrial sector says Campbell, with astute firms recognising the locational and operational value it offers.

“Glasslines rubs shoulders with other leading businesses like Mainfreight, Giltrap AgriZone, Emmerson Transport, Waipa Civil, Hynd, Farmlands, Carters and Fonterra.

“In a national context, the fast-growing industrial precinct offers efficient and cost-effective logistics and distribution space, with large scale warehouse development complemented by smaller industrial units.”

According to the Waipā District Council’s 2050 District Growth Strategy, an additional 25,000 people could be living in catchment in the coming 25 years, with around 14,000 more people expected for Cambridge. Hautapu is an important growth area, with significant tracts of land live-zoned to support identified high demand for industrial land as the Cambridge area evolves, and other growth cells identified for future expansion.

“Hautapu is arguably the fastest growing industrial region in the Waikato, and the uptake of land and the presence of so many high-profile businesses demonstrates market confidence in the area,” says Brown.

“The precinct’s easy access to the Waikato Expressway/State Highway 1 and State Highway 1B amplifies its appeal, given the connectivity and efficiency gains for businesses looking to leverage golden triangle fundamentals.

“The local economy is doing well and the influx of industrial occupiers is boosting employment opportunities and positioning the Cambridge area nicely as an important link in this important wider economic zone.”