Skip Ribbon Commands
Skip to main content

News Release

Wellington

CIT Sale Signals Opportunity for Change in Upper Hutt


 

 

East Tamaki gem with new five-year lease/new-zealand/en-gb/news/863/east-tamaki-gem-with-new-five-year-leaseAucklandEast Tamaki gem with new five-year lease
Rare vacant land in Grey Lynn for sale/new-zealand/en-gb/news/861/rare-vacant-land-in-grey-lynn-for-saleAucklandRare vacant land in Grey Lynn for sale

​​JLL’s commercial brokers, John Persico and John McKenzie are excited to announce the sale of the former CIT campus in Heretaunga, Upper Hutt.

John Persico and John McKenzie have confirmed the former CIT campus has been sold by deferred settlement after an international marketing campaign on behalf of the Ministry of Education. The new owners, a group of private investors will take formal possession of this site in November 2015 and have already appointed Malcolm Gillies of the Gillies Group to manage the property on their behalf.

The sale of this site is an exciting opportunity for the 18.3 hectares of land and buildings to once again play a major part in the life and growth of Upper Hutt as Malcolm Gillies affirms his enthusiasm and commitment to aid in the further progression of the Upper Hutt area.  

Gillies brings a wealth of experience to this large land opportunity with over 20 years of property development experience in Upper Hutt including successfully converting the former South Pacific Tyres factory into the prosperous and fully leased South Pacific Industrial Park. 

“My instructions from the new owners are to maximise the existing buildings on the site and look at what can be done with the rest of the property in terms of maximising its potential. We already have interest from businesses looking to set up on the property including one party keen to re-establish a learning facility.” 

Persico says “Upper Hutt is a vibrant and growing urban area which acts as a link between the Wellington region and the Wairarapa with significant traffic between the two growing in recent years.”
McKenzie of JLL says, “The size and diversity of the buildings at this property makes it the perfect space for a wide range of development options and a great space for mixed use scenarios which we believe will have a positive impact on the Upper Hutt community”.

The new owners are keen to get this property up and running as quickly as possible and will continue to work with the Upper Hutt City Council to welcome new businesses to the site, particularly those who bring secure employment creating demand for local Hutt residents. 

Wellington as a region is short of greenfield development opportunities and the Upper Hutt offers some of the only large scale unencumber sites with access to an urban population. 
 “The owners have said that they are happy to consider very generous leasing incentives such as long rent free periods and specialised fit outs for the right tenants looking to establish businesses over the longer term” Malcolm adds.

Charles Petersen of the Technology Hutt Valley Industry Initiative proposed a teaching, training and R&D high tech institute be established on the property, which was met with great support from Gillies as he believed this was the type of business which could expect very generous leasing incentives and maximum backing from the new owners.