At Petone, an industrial warehouse property linked to the pre-suburban auto assembly industry, which has not been sold in the open market for more than 70 years, will be auctioned.
Andrew Smith of Bayleys Wellington is working with colleague Richard Faisandier to promote the property and will be auctioned on October 26.
The site at the 1568sqm corner is divided into general commercial areas and is divided into two separate ownership, Smith said.
The buildings have rented space of 625sqm and are leased to rebound apparel, which will vacate the property by the end of April 2018.
Bayleys agents said the site could be of interest to proactive developers who want to take advantage of the shortage of existing industrial properties in the Wellington area.
You can see the harbor from the hotel.
\"The new owners have $91,650 in revenue each year, which will effectively buy some time while developing a reconstruction plan,\" Smith said . \".
The property\'s private ownership chain in various households linked to felt means the property has not had an open market since the end of 1940.
Thanks to the popularity of artificial fibers and the shift to overseas manufacturing, felt is a declining industry in New Zealand.
However, in the days when Petone was the automotive assembly center, the property of Waione St was home to a very busy and successful business that turned wool fiber into felt, mainly for automotive interiors, also for carpet liners and mattresses
The process of large-scale wool Felting involves crushing and grooming the wool through a flock machine, then laying it on a mechanized loom, where the needle-
Hit by thousands of needles.
Supplier of property-
Brother John and Andrew masseuse
For example, at the peak of production, felting has a very loyal, long-term
There are as many as 30 people working and employed.
\"Petone is the hive of manufacturing activity.
\"The 1980 and the automotive industry have most responsibility for this,\" John Masseurs said . \".
\"Our company provides felt for interior decoration to the industry, and provides felt mats to the carpet industry, as well as felt bed manufacturing departments for the protection of internal Springs
\"When tariff protection for the New Zealand auto industry was completely removed in the 1990 s and full imports became cheaper --
As many car assembly plants are closed, demand for Petone felt products has declined.
\"About a decade ago, the other markets we supply basically turned to the use of polyester and others --made fibres.
All this reflects the economic changes and the shift to cheaper offshore manufacturing . \"
The Waione St wool
The Felting factory retired in 2005, but the remains of the former factory still exist in the form of wheels on the ceiling --
Installation crane for lifting machinery
Site Engineer for maintenance and repair.
Siblings say they feel they have a strong family connection with the property, especially to miss the views, but the property should be placed with the purchaser and they will be better off using the property\'s properties.
\"Petone is enjoying a revival of popularity and has the opportunity to see this site again
\"The developed countries are exciting,\" said John.
Taking into account the profile and location of the site, it is ripe for large-scale reconstruction, Smith said.
\"The demand for industrial real estate in the Wellington area is high, and the existing quality inventory is simply not enough --
And there is no vacant land.
Flow in the wider Petone area.
\"There is no denying the fact that this site has a strong foundation, and as large multinationals already have business in the region, it could be a leg-up opportunity for development.