Waikato Business News July/August 2018

12 WAIKATO BUSINESS NEWS July/August 2018
Business is still
on the up in the
‘Golden Triangle’
We are now heading into the second half of
what has already been a busy year for the
commercial and industrial property markets
across the Waikato, Bay of Plenty and
Taranaki regions.
By JAN COONEY
Bayleys Real Estate Senior
Commercial Property Manager
While the wider Kiwi
economy is showing
signs of coming off
its peak growth spurt, the commercial
and industrial markets
in the Bay of Plenty/Waikato
catchment areas are certainly
painting a different picture.
Sometimes those within
the commercial and industrial
property markets in Bay of
Plenty/Waikato actually wonder
if ‘New Zealand’ economic
data and stat’s could be broken
down into two geographic sectors
– the Golden Triangle, and
the rest of New Zealand.
Because from what many
in those provinces are seeing,
growth around the Tauranga
Crossing, Tauranga central
business district, Titanium
Park and Te Rapa Gateway
nodes is charging ahead
unabated.
That’s before we even
delve into what’s happening
with existing suburban commercial
and industrial property
in Hamilton, Tauranga, The
Mount, and Rotorua, which is
still continuing to draw strong
support – both from owner/
occupiers and investors.
And as for Auckland…
have you seen how many highrise
cranes stretch across the
city horizon as you drive in
along the Southern Motorway?
It is now clearly apparent
that we live in a country of
two ‘halves’ – albeit that one
half is just the upper portion
of the North Island called the
Golden Triangle. Anecdotally,
the commercial and industrial
sales teams at Bayleys are
finding that the majority of
property sales in the Waikato/
Bay of Plenty provinces are
to individuals and companies
who are based or living within
these areas.
Consents for Tauranga
commercial building projects
have hit more than half a billion
dollars in the past year -
with one business leader saying
Tauranga is “cooking with
gas”.
Figures from Bay of Plenty
economic development agency
Priority One show the value
of consents from June 2017
to May 2018 was a record
$516.4 million, compared with
$486.4m the same period last
year.
Tauranga Chamber of
Commerce chief executive
Stan Gregec said Tauranga
was “well on the way to being
transformed into a modern,
grown-up city.”
Meanwhile in Waikato,
two of the province’s biggest
industrial property developments
are charging ahead at
full speed.
Demand for sites at the
Western Precinct of Titanium
Park adjacent to Hamilton
Airport continues to grow,
with nine sites sold or under
contract – leaving only 40 percent
of the precinct available.
Nearly 13 hectares of land
there has been sold to date.
Fuel retailer Waitomo
Energy and agricultural
machinery importer/distributor
Webbline, are the latest
companies to identify the
business park as an important
strategic location from which
to expand business activity
across the region.
And on the other side of
Hamilton at Te Rapa Gateway
just north of the city, what was
planned to be 20-years worth
of industrial land supply has
seen some 60 percent of land
sold down within a four year
period.
The latest company to stake
its claim in the Te Rapa Gateway
precinct is goat primary
produce processor The Dairy
Goat Co-operative. The company
is buying six hectares
of stage four land off Housell
Road to ‘future-proof’ its
growth in the location.
Commercial
Property
Management
At Bayleys, we believe relationships are
what businesses are built on and how
they succeed.
We understand that to maximise the
return on your property you need:
Professional property management
A business partner that understands
your views and goals
Speak to your Bayleys team today
SUCCESS REALTY LTD, BAYLEYS,
LICENSED UNDER THE REA ACT 2008
Jan Cooney
Senior Commercial Property Manager
P 07 579 0609 M 027 408 9339
jan.cooney@bayleys.co.nz
Brodie Thomas
Commercial Property Manager
P 07 579 0608 M 027 746 9218
brodie.thomas@bayleys.co.nz