INVESTORS SCRAMBLE FOR INDUSTRIAL LAND
As a high percentage of New Zealand’s GDP is aligned to some form of industrial property use, the demand for quality industrial land remains across the country.
In Auckland, the supply is totally inadequate, in Wellington businesses are struggling to find industrial zoned land, in Christchurch the ongoing challenge is sourcing enough prime land and in Nelson businesses are clamouring for bare industrial land.
Along with a supply shortage land values have surged as the high demand from investors is not satisfied. Auckland prices have skyrocketed to $550/m2 at Drury South, the only large subdivision of industrial zoned land south of Auckland.
Savills industrial sales . It has risen 20% year-on-year.
