"This project is filling a hole in Hamilton's industrial leasing market and lifting the standards in Te Rapa," Ten Hove says.
"With industrial vacancy rates at all-time lows, the market has been waiting for a new industrial property at Te Rapa.
"Chalmers Properties invests in developing land sites and property for tenants, adding high-quality, low maintenance buildings with planted lawns and sustainable features at competitive rental rates."
"Engineered to meet the latest industrial requirements, the sites have covenants to protect property values, ensuring a good mix of high-quality tenants, including showrooms and national businesses," Ten Hove says.
"Designed to a high standard, a number of special features have been built-in - over and above requirements to create an attractive, fit-for-purpose development.
"The units include ultra-fast broadband, on-site parking, high-stud warehousing, roller doors, tilt-slab construction, appealing office layouts with air-conditioning and 20sq m canopies - which add to the benefits associated with the complex.
"This approach has already attracted high quality tenants like Metroglass and Prochem on a long-term basis, and the quality of the development was recognised at a recent Property Industry Awards event."
Ten Hove says the units adjoin six in Stage One, so there is full drive-through access between Arthur Porter and Clem Newby Drives. The Waikato Expressway is also scheduled for completion next year.
He says the major drawcard for tenants is Te Rapa Gateway's location alongside the Waikato Expressway and The Base, the region's biggest shopping centre.
"Te Rapa Gateway is also close to developing regional infrastructure, including Ports of Auckland's inland port which was opened at the end of April. It has Open Country Dairy, the country's second biggest exporter of dairy products, in an ambient store to consolidate its freight. It's also near Tainui Group Holdings 500ha inland port which is under development."
Ten Hove says Te Rapa Gateway is Hamilton's fastest growing industrial area and its zoning provides for a diverse range of warehousing, bulk storage, processing and manufacturing.
"Companies which have set up at the industrial park include Christchurch machinery and tool supplier TopmaQ, and O'Brien Plumbing and Bathroomware – both new businesses to Hamilton.
"Several large businesses are now housed at Te Rapa Gateway and include Bidvest, Lely, Normans Transport, Southpac Trucks, roofing manufacturer Metalcraft Industries, packaging company Attwood, Hynds Pipes and Viridian Glass.
"Growth has been driven by economic confidence in the Waikato, low interest rates and industrial land prices which are half of those for key Auckland industrial areas and also quite a bit cheaper than Tauranga land.
"Vacancy rates for industrial property are low and builders are struggling to keep up with the demand for new developments. Most of the new space is taken up before building even begins," Ten Hove says.
