The Bayleys Waikato commercial team are riding the crest of a wave of industrial and business development in the Waikato.
Bayleys Waikato Commercial Manager, David Cashmore, says his team has increased business by 63 percent over the past four years.
What is more the team has more than doubled the company’s Waikato market share.
At least part of that, Cashmore says, is down to growth of the number of agents on the team, and more specifically some very high performing team members who have established themselves as leaders in the industry.
“With our three commercial offices in Ngatea, Cambridge, and Hamilton, as well as our commercial property management and commercial valuation services, we are well placed to service all client needs in the Waikato.
“It is noteworthy that we have been the agency of choice for many recent and current key Hamilton projects including: the retail and hospitality aspect of Union Square in the central city; the four Te Awa Lakes super lots; WTS Industrial units; 232 Ellis Industrial units; Bristol Place industrial units; and Earthmover Industrial units, just to name a few.”
Cashmore says investor interest in Hamilton and its surrounds is being driven by the region’s geographical location in the “Golden Triangle” of the Bay of Plenty, Waikato, and Auckland.
“The triangle region, with 57 per cent of the country’s building consents in the year to March, and an annual growth of 10.5 percent since 2010, has on average outpaced the rest of New Zealand’s performance of seven percent over the same period.”
Cashmore notes the steady rise of commercial consents over the last decade reflects the fact the region has been identified as an economic hotspot for the country.
Massive investment by local and national governments is now falling into place, he says, noting the imminent completion of the $45-million Hamilton Ring Road and the $2-billion Waikato
“As well, the 490-hectare Ruakura Superhub, the $1-billion Sleepyhead Estate, and the 8,400 houses planned for Peacocke’s residential estate in Hamilton’s south all point to a city and region that is on the move.”
Recently Bayleys was chosen to sell the Te Awa Lakes Superlots which offers more than 31,000 sqm of land. Cashmore says the Superlot offer represents an exciting opportunity for developers and builders to secure a foothold into Hamilton’s first mixed-use master planned community. The development offers a strategic location in a growth corridor alongside the Waikato River with ready access to the State Highway 1 arterial, and is close to employment precincts and existing public amenities as well as innovations, including a dedicated cycleway and proposed adventure park.
The 90-hectare, three-phase development of Te Awa Lakes is situated on Perry’s old sand quarry at Horotiu. The Bayleys team put up the development’s four superlots for sale, individually or in any combination. It is envisaged each superlot will manage at least 200 homes with a masterplan identifying mixed-use development with retail shops, a community centre and the opportunity for including over 1800 homes.
“This exciting project received a very positive response from the marketplace and has achieved an outcome that exceeds all expectations,” Cashmore says.
Further evidence of the team’s success is evidenced in the successful marketing of the WTS Tasman site in north Hamilton’s highly sought-after Te Rapa Gateway industrial precinct.
The flexible, well-conceived complex of 11 architecturally designed units suited to work, trade from, and/or storage solutions, sold out off plan. Cashmore noted the project saw very high demand from both owner/occupiers and investors and all 11 units are now under contract. The development is due for completion in mid-2022.
Cashmore said he felt privileged to be working with some of our region’s most visionary developers in the best city in New Zealand.
“And that privilege extends to leading the Waikato Commercial team where every day I am surrounded by positive, motivated and hardworking agents. The future for commercial property looks very exciting!”