Nelson

PHOTO: Berryfields Crossing Development in Richmond. Photo: RNZ / Tracy Neal

Demand for commercial property is booming in Nelson, with a shortage of industrial land.

About 60 would-be buyers recently vied for just 10 prime industrial development sites in a new subdivision, with sites fetching a total of $25 million in unconditional sales in less than a month.

Nelson-based Colliers commercial broker Geoff Faulkner said businesses were clamouring for bare land on which to build premises for a variety of uses, including agriculture, aquaculture, construction, logistics and engineering.

READ MORE VIA RNZ