With owner-occupiers and investors increasingly priced out of the Queenstown and Wanaka commercial and industrial market, there’s evidence of a halo effect as ripples spread outwards to Cromwell and Alexandra.

This pattern has been noted by proactive Wanaka-headquartered development firm Calder Group, with its new project, Central Storage in Cromwell due for completion by the end of this year.

Steven and Gary Kirk, Bayleys Cromwell are selling down the freehold unit-titled storage units which are positioned as suitable for entry-level investors or owner-occupiers looking for cost-effective personal or business storage, or a base for a trade-related occupier.

Located within an established industrial precinct at 11-15 McBride Crescent, Central Storage comprises a 60-unit storage facility with concrete tilt slab construction, lined ceilings, Colorsteel roof and spouting, and motorised roller doors. The complex is fully security fenced, will have landscaped common areas and shared toilet amenities, and drive-around access with swipe card entry and exit for the barrier gates.

The units range in size from 22sqm to 86sqm and are priced from $199,000 plus GST, if any.

Having identified a gap in the Cromwell market for quality storage options, Steven Kirk says Calder Group has designed versatile units which will have broad appeal.

“Given Central Otago’s strong recreational options and the location close to to the Highlands Motorsport Park and the main Cromwell commercial hub, the units will be perfect for storing boats, caravans, cars, and other leisure equipment for regular holidaymakers or locals who have limited space at home, as well as business owners.

“The complex would provide an excellent base for tradespeople working in the area to operate their businesses from, and cater to small business owners or logistics providers seeking low overheads for inventory storage – particularly for online retailers.

“The range of unit sizes provides scope for any number of potential owner-occupiers and we also see them as an ideal and accessible option for investors to either kickstart or add to a property portfolio.”

Kirk says Cromwell is fast becoming the hub for Central Otago with many local businesses looking to expand current operations, other established South Island business owners keen to move to the area, and Central Otago District Council having a masterplan to address growth and to support a thriving and competitive local economy.

“Cromwell is the natural ‘next big thing’ for Central Otago given tightly-held land and existing property in Wanaka and Queenstown.

“Owner-occupiers and investors tell us that they’ve been priced out of the Queenstown and Wanaka markets so Cromwell is proving an attractive alternative offering good value for money.

“It’s only 55km from Wanaka or Queenstown, and population growth in Cromwell is outpacing national averages so it’s gaining real traction off the back of rising land and property prices in the better-known centres.”

Calder Group was established in 1980 and is a family-run design, construction and engineering company, specialising in commercial, industrial and rural buildings throughout Otago and Southland.

“Calder Group is able to bring cost and design efficiencies to the construction table as it runs its own teams across all parts of the build, including having its own steel fabrication machinery for structural steel componentry,” says Kirk.

“The firm is active across Central Otago with bases in Wanaka, Tapanui and Cromwell so it understands the idiosyncrasies of this market and can deliver fit-for-purpose commercial and industrial solutions for its clients, along with developing market-relevant stock for sale.”

Click here for more information on the listing.