$60m Motorway Interchange Delivers Regional Benefit

On 28, 29 and 30 August 2023 between the hours of 8.00pm and 6.00am, State Highway 2 Tauranga Eastern Link Toll Road (TELTR) was closed on both sides, to facilitate the safe installation of eight large interchange beams. Each beam 33.1m in length and weighing approximately 65T, were installed onto columns straddling the TELTR. These works were one part of a motorway interchange project which commenced in October 2022 and is expected to be open in late 2024. This is a key piece of infrastructure that will link the Park to the motorway and the wider region - a visual signifier of the notable progress for the project. The interchange is expected to be open in late 2024.

As the lead developer for the Rangiuru Business Park, Quayside is managing and funding the $60m interchange required to access the TELTR. Confirmation of a $18m contribution from the Provincial Growth Fund (PGF) in 2020 provided the seed capital to start the business park and motorway interchange. This vital piece of infrastructure and considerable investment into the region, connects future residential development in the East, with the business park in the West. At the time of writing, the interchange will be vested to Waka Kotahi upon completion.

The Golden Triangle is the engine room of Aotearoa, New Zealand’s economy and it is vital that investment into our region’s infrastructure is fast-tracked to increase accessibility, resilience and economic growth.

The role of Central Government investment in our region's core infrastructure plays a critical role in unlocking the Bay of Plenty’s economic potential.

Quayside is responsible for growing a diversified fund that generates long-term returns that support the prosperity of the Bay of Plenty and the Rangiuru Business Park plays an important role in enabling economic growth across this region.” said Lyndon Settle, Quayside CEO.

Situated in the heart of the Bay of Plenty, the Rangiuru Business Park is connected by road, rail and sea. Just 30 km from the Port of Tauranga, 3 hours to 50% of NZ’s population in Auckland and adjacent to rail networks linking the wider Bay of Plenty.

Quayside Holdings GM Property, Michael Jefferies says “This development meets the shortfall in high-quality industrial land close to the Port of Tauranga. The proximity and established multimodal transport links providing wider regional accessibility between Tauranga, Whakatāne, Te Puke, Kawerau and Rotorua offer huge opportunities”.

The Park is being developed in consideration and support of regional growth strategies (SmartGrowth, Future Development Strategy, Tauranga Transport Plan, Tauranga Urban Strategy, Bay of Connections Growth Strategy, UFTI, etc), as well as taking into account the needs of local businesses.

“The Western Bay of Plenty is a popular place for businesses to locate themselves, and we have seen strong growth in our local business community in recent years. Industrial land is sought after to meet future demand and to provide additional choice for developers and businesses. The location of Rangiuru means it is well served to cater to demand on the Eastern side of our city.” says Nigel Tutt, Chief Executive, Priority One.

Our intent is for a collaborative development, with a unified vision, that benefits the whole community and is something we can all be proud of. A modern, future-focused, and high-quality business park, providing positive economic, social, cultural and environmental outcomes for all the region to enjoy.

Facts:

• The Rangiuru Business Park is majority-owned by Quayside Properties Limited, a wholly-owned subsidiary of Quayside Holdings Limited, the investment arm of Toi Moana Bay of Plenty Regional Council.
• Quayside owns 40% of the entire consented land within Rangiuru Business Park and is the lead developer.
• The Park comprises 148 hectares of consented industrial land, to be developed over four stages.

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