Renewed activity in industrial Wellington

Industrial leasing and sales activity in the Wellington region strengthened through 2025, as occupiers, landlords, and investors resumed decision-making following a subdued 2024.

Bayleys Wellington Commercial inked multiple significant leases in the second half of last year for large-scale industrial properties around the region, and notably in Lower Hutt, Grenada, Gracefield/Seaview, and Upper Hutt. The team also brokered the sale of several big assets including the premises of Blue Star in Petone, and a sizeable warehousing property in Grenada where a lease surrender was also negotiated to allow new owner occupation.

Fraser Press, a director of Bayleys Wellington Commercial says renewed activity in the industrial sector signals more confidence in the market off the back of lower interest rates, better consumer spending, and improved business sentiment.

“Many of last year’s transactions were substantial and reflect a positive outlook for industrial property owners considering divestment or needing to find new tenants in the months ahead.”

Bayleys’ latest Total Property portfolio features two large industrial assets in Porirua, each with compelling fundamentals for owner-occupiers or investors.

A versatile industrial facility formerly occupied by Bidfood NZ, the country’s largest foodservice wholesaler, is available for sale or lease by negotiation with vacant possession through Fraser Press, Simon Butler, and Ethan Hourigan.

Located at 9-11 Matiu Close within Porirua’s industrial precinct, the substantial high stud warehouse with multiple roller doors also has office accommodation, extensive canopies, carparking for 44 vehicles, and a large, sealed yard, with a total lettable floor area of 3,685sqm on a 10,037sqm site. The property has a seismic rating of 70 percent NBS, and an assessed potential annual net income of $710,000 plus GST.

An extensive but dated temperature-controlled fitout could be removed or refurbished by an incoming occupier, with Press saying given advances in cold storage technology, the existing facilities will likely not be suitable for modern and more technologically advanced cold chain requirements.

“However, if the freezer and chiller amenities were decommissioned, you’d be left with industrial warehousing with scale on a large site with underutilised land to the north boundary that could accommodate expansion or future development.

“It would be ideal for logistics, transport, or businesses having frequent vehicle movements as there’s excellent vehicle circulation and streamlined access to State Highway 1 via the Transmission Gully interchange for efficient connectivity to Wellington and the wider region.”

Around 2km south is a premium high specification new-build industrial offering on 5,785sqm at 3A Kinleith Grove in the sought-after Kenepuru commercial precinct. The property is at 100 percent NBS and is for sale or lease by tender closing Wednesday 11th March through the same Bayleys team.

The 8m stud-height 2,002sqm warehouse with two roller doors has strong cubic capacity and is column-free for optimal racking, storage, and workflow configuration. There are exterior canopies, a heavy-duty concrete hardstand yard designed for easy loading and streamlined truck manoeuvrability for B-train and articulated trucks, and the site is fully gated.

A single-level 168.5sqm office at the site entrance provides quality workspace, natural light, staff amenities, and direct warehouse access.

Ethan Hourigan says this is the highest-quality industrial building currently available in the Wellington market and is ready for immediate occupation with an assessed market rental of $735,279 plus GST.

“This is a prime opportunity for owner-occupiers or investors to secure a strategic new, high-spec facility purpose-built for modern logistics and industrial operations within a proven industrial hub with excellent connectivity and long-term appeal.

“Porirua CBD is 300m away, and it’s just five minutes from Transmission Gully and the State Highway network with easy access to Wellington Port and Lower Hutt.

“Notable tenants in the surrounding location include Freemans Roofing, Whittaker’s, Online Security, Bunnings, Placemakers, Turners, and Mitsubishi, with the location proving effective for a wider range of occupiers.”