Industrial property welcomes investors

A high-quality industrial property within Lower Hutt’s premier industrial hub has been released to the market, offering investors the chance to secure a modern facility backed by a strong long-term tenant covenant.

Quadrant Drive is a private road servicing a cluster of five quality industrial buildings, located just east of the Seaview roundabout—the main entry to the Seaview/Gracefield industrial precinct.

1D Quadrant Drive, Waiwhetu comprises a substantial high-stud warehouse with generous yard space and full drive-around access, along with a modern office and showroom at the front. Situated on 5,713sqm of land with 12 on-site car parks, the property is occupied by Arrow Matting Systems, which operates its national head office and distribution centre from the site.

The property includes a 700sqm, 200 MPa concrete yard positioned in front of three roller doors, providing direct access to the 2,422sqm high-stud warehouse. A further 710sqm of unsealed yard along the northern and rear boundaries enables full drive-around access, while a fourth rear roller door enhances operational efficiency and goods movement across the site.

A purpose-built wind lobby at the warehouse entrance provides secure personnel access and an efficient courier pickup area. The warehouse includes zoned LED lighting, excellent translucent roof panel coverage, and an advanced smoke detection system.

The 600sqm single-level office is fitted with double glazing, electric blinds, fibre internet, and in-floor power and data pods on a 5x5-metre grid. It features a high-quality, multizone HVAC and fresh-air system. The largely open-plan layout includes male, female, and accessible toilets, a shower, a flexible boardroom/kitchen area with an operable acoustic wall, dedicated showroom space, and an airconditioned server room.

The office component is at 100 percent new building standard, while the warehouse has been assessed at 75 percent.

Arrow Matting Systems is secured on a nine-year lease that commenced on 1 April 2021. The lease includes two further three-year rights of renewal, providing a potential final expiry of 31 March 2036. The property generates an annual net income of $490,000 plus GST, with market rent reviews every three years supporting future income growth. The lease is further strengthened by personal guarantees.

Paul Cudby of Bayleys Wellington Commercial is taking the property through a tender campaign, closing Wednesday 15th April, unless sold prior, and places this property among the top investment offerings of 2026.

“This is a quality industrial asset in every respect and will allow an investor to get a foothold in the prime industrial market, which remains a preferred investment asset class with strong long-run advantages.

“The property’s broad-ranging General Business zoning supports the value, and vacancy levels remain historically low in the wider precinct, driven by high demand and constrained supply.”

Seaview/Gracefield is regarded as Wellington’s most strategic industrial location, with efficient access to Wellington Port, Wellington Airport, State Highway 2 and the wider regional network, and major logistics carrier and courier hubs.

“The location clearly suits the operational needs of wholly New Zealand-owned Arrow Matting Systems which has been in business for more than 35 years,” says Cudby.

“Arrow is in good company, too, with neighbouring national occupiers including Placemakers, BOC Gases, Aramex, Bluestar, New Zealand Van Lines, Linfox, AssureQuality, and Mainfreight.”