Austino Property Group has settled all its 10 light industrial subdivided lots in Hobsonville, Auckland. It was able to do this despite the challenges posed by the pandemic.
Development on Lot 1 Hobsonville Road Hobsonville
The 10 lots were sold to just 5 Purchasers confirming Austino’s belief that if you focus your developments in key strategic gateway locations there will be high demand for your product.
Austino success in having to develop through a pandemic was put down in staying focused and working with Purchasers, such as Citadel, Waide Constructions and Kea Property, to resolve issues.
At a time when Council is struggling to provide infrastructure assets to allow development across Auckland, Austino provided infrastructure such as the waste water line that will service not only its own site up several other parcels of land, upsizing the water mains along Hobsonville Road, constructing the link road connecting Wespoint Drive to Westpark Drive and constructing the traffic lights at the intersection of these two major roads providing safe access to Hobsonville Road. All these assets have been handed over to the people of Auckland.
The Managing Director of Austino, Victor Quan said “We are very pleased with the outcome of our first light industrial development in Auckland. We all accept what the weather throws at us, but the challenges of a pandemic is something none of us in the industry has experienced before. It is a credit to our staff, contractors, Council staff and purchasers who collectively stood behind Austino to finish the subdivision”
“Investors and construction companies are moving to the industrial asset class as rents show strong growth. Austino is aware the pandemic has bought about changes to how we live, work and shop. Austino believe many of these changes are structural and it will need to evolve our product to support these changes, before progressing its subdivisions of its three light industrial properties and three residential properties in the area”.”
For further information contact:
Kerry Keogh at kerry@austino.com.au or on +61400688922