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Sections on Gumfield Drive in Warkworth’s industrial area have remained vacant after demand for real estate plummeted following the global financial crisis.
Demand for real estate in Warkworth’s industrial areas is picking up.Tom and Robyn Morrison are the landowners behind the development of Morrison Drive and Gumfield Drive. Robyn says inquiries all but stopped following the global financial crisis, but interest in un-developed sections in the area has increased over the past six months.
The couple developed five sections on Gumfield Drive about five years ago, but due to the low level of inquiries they haven’t connected the sites to utilities, however they are now looking to prepare the sites for sale this summer.
The couple have a further two hectares remaining to be developed, which require landscaping to make them level.
The inquiries have come from a mix of local businesses, looking to relocate, and national firms who are looking to establish a presence in Warkworth.
Industrial building specialists Coresteel North Harbour director Andrew Boyd says he has also noticed an increase in demand. However he says many companies are finding land in Warkworth expensive to build on, as there are few flat sites and development contributions are high.
“We are seeing demand from national chains who want to be established for the residential growth planned for the area, and also local businesses.”
He says developers have been content to hold on to land and wait to get the price they want, which has slowed growth in the industrial sector.
Stockyard Falls landowner and developer Neil Barr says he has no plans to develop the site any further in the near future.
Mr Barr had grand plans for the land, which now includes Mitre 10 Mega. However he put the 5.88 hectares on the market in 2011 after NZTA vetoed a proposed shopping centre at the site, due to concerns it would increase congestion in Warkworth.
