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Growth 'explosion' at Tauriko Business Estate

According to the Bay of Plenty Times a commercial property ''explosion'' has hit the Tauriko Business Estate as demand for land reaches a record high and tens of millions of dollars are pumped into new buildings.

The latest survey from Element IMF Limited showed in February there were 94 businesses based at Tauriko that employed 2008 people.

Director Bryce Donne said the 2018 financial year was shaping up as the busiest year yet at Tauriko, with more than 16ha of titles to be delivered and sold.

"By March we will have delivered 80ha of net industrial land out of a project total yield of 180ha," he said.

"We are busy with construction works and planning for the next stages of release meaning that overall we are about half way through the project."

Colliers International Tauranga investment sales and industrial leasing specialist Rob Schoeser said Colliers had more than $60 million worth of investment sales at the Tauriko Business Estate.

''Investors want new buildings, which are low maintenance with good leases.''

Some of the larger transactions were Brother in Matarawa Pl worth $10.25m, Downers Taurikura Dr at $14.5m and Kiwi Bus Builders in Whakakake St at $7.35m.

Mr Schoeser said NZL Group was also moving from Mount Maunganui to a $20m, 17,000 sq m purpose built, high-tech facility at Tauriko.

The development was being undertaken by former MP Bob Clarkson, NZL's current landlord.

Mr Clarkson said the size of the building was right up with the top three biggest developments he had ever done.

Source: Bay of Plenty Times

http://www.nzherald.co.nz/bay-of-plenty-times/business/news/article.cfm?c_id=1503347&objectid=11890041

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