Registered Valuers. Registered Property Consultants. LINZ Accredited. Hawke’s Bay-based premium quality valuation and creative property strategy© leading $0.5b acquisitions-disposals NZ-wide since 1998. Valuation litigation and commercial property specialists. Development and public land specialists.
Napier Port 12.1 Hectares Inland Port
Congratulations Napier Port acquiring Crown approval in principle for $20m for the development of Napier Port’s inland port at Whakatu. Napier Port Chief Executive Todd Dawson said: “The Whakatu Inland Port is a vital piece of infrastructure that will provide Napier Port with capacity to meet the regional growth expected within Hawke’s Bay and beyond.” The Government’s proposed support for the Whakatu Inland Port will bring the development forward by five years.
Turley & Co in 2017 was successful for Napier Port in acquiring a key 8.1 hectares industrial zone land component for the inland port. Refer below.
Turley & Co Inland Port Industrial Land Acquisition 2017
The Port since 2003 has owned 4.0 ha of Anderson Road industrial land with road frontage and rail sidings’ access that the Port purchased for $870,000 ($21.75/ m2). Turley & Co was involved.
In 2017 Turley & Co led acquisition of the adjoining 8.1 ha industrial zone land at 16 Groome Place for $3,867,500 ($47.50/ m2), creating a contiguous future inland port block of 12.1 ha – just over 30 acres in old metrics.
Pat Turley assisted the Port’s property strategy and led valuation advisory, due diligence planning and investigations, Council discussions, land development advisory, land purchase strategy, other experts’ services acquisition, and he successfully negotiated the Port’s neighbouring land purchase. There was no obvious Plan B industrial land option for an inland port with railway access.
Turley & Co supervised and monitored the vendor’s new road development delivery.
The Port’s 2003 and 2017 purchases aggregated land has been zoned for industrial use since 2003.
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