9 March 2009

Titanium Park gets green light

A major mixed-use development planned for the southern outskirts of Hamilton is proceeding apace, and is receiving encouraging pre-sales interest despite the depressed property market.

The Titanium Park development took a significant step forward this month when Waipa District Council granted final approval for a plan change. Close to 117 hectares of rural and aviation land adjoining Hamilton International Airport has been successfully rezoned for commercial and industrial applications.

Titanium Park, a joint venture between Hamilton International Airport and McConnell Property, will build on the existing aviation cluster and accommodate a balance of commercial, industrial and manufacturing businesses, complete with supporting retail operations.

McConnell Property Head of Commercial and Industrial, Nigel Richards, said Titanium Park had been designed with the end user in mind.

“We’re committed to making the experience of establishing roots and operating out of Titanium Park as simple and effective as possible,” said Mr Richards.

Titanium Park offers customised solutions to suit any size business as well as a range of tenure options, including freehold and a ‘terminating freehold’ product on the air-side land. Design-build-leaseback opportunities are also available. Prospective tenants can choose from air-side access and state highway exposure.

Comprehensive infrastructure is a key element of the master-planned site. The development offers fully serviced lots complete with power, water, sewerage and state-of-the-art communications technology. Notably, development levies, which are typically necessary as part of a resource consent process, aren’t required.

Another attraction for business is the site’s flexible noise control limits, which allow Titanium Park to support noise-generating activities around the clock.

Flanked by State Highways 1, 3 and 21, Titanium Park is at the core of one of New Zealand’s largest export regions.

New and existing businesses will benefit from Titanium Park’s strategic location, within easy reach of road, air and rail transport options, said Mr Richards.

”This development has the potential to create a truly vibrant commercial and industrial hub for a region which, to date, hasn’t been widely recognised as an option by businesses.”

Hamilton Airport Chief Executive Chris Doak emphasised Titanium Park’s role in the Airport’s long-term development plans.

“Increasingly, airport business is about improving the utilisation of land assets. Titanium Park will play an important role in the economic development of the surrounding region as companies begin to take up residence within the Park, and contribute diversified revenue streams for the airport.”

“We’re delighted to receive the District Council’s approval for this important regional development, and look forward to Titanium Park supporting the Airport as a strategic asset for the region,” said Mr Doak.

Site works for the new business development could begin as early as the middle of this year.

About McConnell Property

McConnell Property is a leading New Zealand developer of quality commercial and residential places. McConnell Property applies leading urban design principles to its developments as part of creating great places to live and work.

Established in 1998, the business’s current developments include Titanium Park, a 65ha business park adjoining Hamilton Airport, Ascot Parade, a Green Star rated commercial development in Auckland, and a number of mixed-use and residential developments.

In early 2008 McConnell Property partnered with ABN AMRO, one of the world’s largest financial services organisations. The aim is to create one of New Zealand’s leading integrated property development and funds management businesses.

McConnell Property is part of the McConnell Group, New Zealand’s largest privately owned property, construction and infrastructure group whose main subsidiaries are McConnell Property, Hawkins Construction and Steelpipe New Zealand.

About Hamilton International Airport

Titanium Park is the latest stage of the development of Hamilton International Airport. Since the 1920s, when the site was first used by aircraft landing for pageants and gymkhanas, the Airport has grown steadily, including serving as a Royal New Zealand Air Force Station during WWII. Today, Hamilton International Airport is New Zealand’s second busiest certificated airport for flight movements, with a catchment area of approximately 700,000 people, and the fourth-longest commercial runway in the country (2,195m sealed runway).

The recent terminal redevelopment has earned Hamilton International Airport several national design awards, and current projects such as the Titanium Park development will further enhance the Airport’s vital role in the region.

Hamilton International Airport is owned by five local shareholder authorities – Hamilton City Council and the Waipa, Waikato, Matamata-Piako and Otorohanga District Councils.

ENDS

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