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Bay of Plenty Business News April/May 2017

From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This new publication reflects the region’s growth and importance as part of the wider central North Island economy.

Bay of Plenty Business News April/May

Bay of plenty APRIL/MAY 2017 VOLUME 2: ISSUE 10 WWW.BOPBUSINESSNEWS.CO.NZ FACEBOOK.COM/BOPBUSINESSNEWS Tauriko booms Tauranga Crossing “smashes” expectations Tauriko Business Estate continues to grow at pace as businesses, particularly from other parts of Tauranga make the move to the 200ha site. By GEOFF TAYLOR And the resulting growth in foot traffic has also been a boon for new shopping centre, Tauranga Crossing which has “smashed” its six month budgets. Tauriko Business Estate commercial manager Rachel Emerson says park management has been kept busy this year unlocking future stages they thought would be five years away. “We have sold all bar one title for 2017 and are pre-selling 2018 Stage 3C titles currently. Demand for this future stage has been strong with 12 lots sold and an additional 10 lots conditional pending due diligence,” she says. Rachel says since January 2016, Tauriko Business Estate Oyster Management senior asset manager Graeme Gunthorp. has grown from 52 businesses to 94 and the number of people working there has grown from 1580 to more than 2000. This increase is a combination of new businesses establishing in Tauriko and growth of existing businesses. “This daytime population has contributed to the success of Tauranga Crossing in its first six months which has smashed all budgets for turnover and foot count and provided a welcome addition to local amenity for local residents and businesses.” Graeme Gunthorp, senior asset manager at Oyster Management which owns Tauranga Crossing, agreed that the shopping centre is booming. “The first six months of trading for Tauranga Crossing has exceeded expectations, with shoppers coming from across the Bay to experience the unique retail, service, and hospitality offerings,” he said. “The centre continues to perform strongly, with majors like Pak'nSave and The Warehouse providing essential products for families at outstanding value, and new retailers opening regularly.” The centre opened on September 15, delivering 17,000 square metres of space that has been termed a first for the region. The next phase of development will be in two zones: an indoor shopping centre with Event Cinemas and specialty retailers, and ‘The Depot’, a bulk goods centre aimed at accommodating larger scale lifestyle and homeware stores. Site-work is already underway on the Tauranga Crossing Event Cinema complex, which will comprise Another busy day at Tauranga Crossing as Tauriko Business Estate booms. a six screen, 1000-seater plus Vmax cinema development, and is part of the project’s second stage. The Vmax cinema will offer movie-goers a huge 24 metre digital screen, the latest Dolby Atmos speaker system and extra spacious seating. Rachel says the clear majority of relocations into Tauriko Business Estate have been from elsewhere within the Tauranga region, rather than from other regions such as Auckland. “As a region we should acknoweldege and celebrate this internal growth – as it has been phenomenal and this is one of many business locations that have grown in the region. The vacancy across the city is at an all time low; the relocated businesses have not left gaping holes, they have been filled with upcoming businesses themselves.” “We have certainly grown up as a region and it has been an immensely exciting journey to be part of here at the Tauriko Business Estate. We have a strong asset values and very powerful point of difference. The competitive advantages our estate has on offer are undeniable. It’s pretty clear and evidenced through our growth that we are recongised as a premier business location.” Meanwhile, Rachel says the expected completion of the Kennedy Road Bridge project in July will be a game changer for many businesses accessing stage two at the business estate as well as the future stage three. “Most will elect to take the SH36 bypass up to Kennedy Road as opposed to tracking slowly along Taurikura Drive at 50 km/hour,” she says.

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