A unique opportunity to occupy Rotorua’s newest industrial precinct is opening doors for forward-thinking operators and investors as demand grows for strategically located, cost-effective alternatives to New Zealand’s main centres.

Bayleys Rotorua’s Damien Keenan is marketing 13 Heavy Industrial-zoned sites at the Peka Industrial Park, a landmark development currently under construction on State Highway 30, just south of Rotorua for lease by negotiation, alongside colleagues Mark Slade and Brei King.

Keenan says the lots range in size from 4,000sqm to 13,000sqm, and are available with bespoke ground lease options. “Flexible lease terms, which include secure arrangements of up to 99 years, are designed to give businesses operational certainty while reducing upfront capital outlay.”

“Peka Industrial Park has been much anticipated, as a response to increasing interest in long-term leasehold structures, particularly from national and regional businesses wanting to lock in costs and prioritise reinvestment in infrastructure, labour, and growth initiatives.

“Rising land values and tighter development feasibility in larger centres are forcing industrial occupiers to look further afield. Rotorua’s central location and proximity to the ‘Golden Triangle’ of Tauranga, Hamilton, and Taupō position it as a natural next step for expansion, particularly for essential services and heavy industry.”

Peka offers two key lease models:

• Traditional ground lease -Negotiable terms, typically 15 years with two rights of renewal and rent reviews every five years
• Capital Paid Up Lease For Sale – A one-off upfront payment equal to 10 years’ rent secures long-term tenure of up to 50 years with no rent increases

Bayleys Rotorua Commercial, Industrial and Business Sales and Leasing specialist Mark Slade says both structures provide tenants with security of tenure, tax efficiency, and reduced capital risk.

“These features are especially valuable in today’s environment, where rising costs are driving business owners to seek predictable expenses and greater control over their operations.”

Stage 1 civil works are already underway across 12ha, with sites due for completion by July 2025. The full 140ha development will be delivered in phases, future-proofing supply as Rotorua’s industrial footprint expands.

Brei King of Bayleys Rotorua says Peka Industrial Park is one of the few locations in the Bay of Plenty purpose-built for heavy industry. “With permissive consenting conditions, businesses benefit from fewer operating constraints - an advantage over nearby parks, which cater primarily to light industrial and logistics operators.”

“Rotorua’s established forestry and geothermal sectors, together with its growing population and strong domestic tourism market, are creating new opportunities for manufacturers and service providers,” King says.

The park is supported by the Peka Trust, which is the committed kaitiaki (guardian) of the land. King says environmental stewardship is central to the development’s vision, with measures in place to protect waterways, minimise ecological impact, and support sustainable growth for future development.

“The park offers a compelling value proposition for industrial users, with setup costs up to 35 percent lower when compared to Tauranga, it’s a natural opportunity for businesses seeking scale, security and sustainable credentials.”