Airport stage two development takes off

By Colin Taylor

An artist's impression of an aerial view of the Titanium Park commercial and industrial development adjoining Hamilton airport.
An artist's impression of an aerial view of the Titanium Park commercial and industrial development adjoining Hamilton airport.

Stage Two of Titanium Park, a commercial and industrial development around the perimeter of Hamilton International Airport, has been opened up with the sale and lease of sites.

The area, to be known as the Central Precinct, is on land adjacent to the airport terminal, and has been planned as the hub of the greater business park.

"Customised freehold landholdings of at least 2000sq m are now being released for sale or lease at market competitive rates," says Blair Hutcheson of Bayleys Hamilton, who is marketing the sections.

"The Central Precinct is suitable for businesses wanting to be part of a thriving commercial centre with office, light industrial, warehousing, accommodation and retail servicing airport users."

Hutcheson says 6ha of sites in Titanium Park Stage Two are being sold freehold for office space, small to medium-size warehousing tenancies, or light industry/manufacturing, while 3ha of land abutting the airport perimeter is available to lease.

Titanium Park is a joint venture between Waikato Regional Airport, McConnell Property and Todd Property, with a multi-staged sell-down broken into seven stages.

"Titanium Park is a comprehensively planned, safe and sustainable business location aimed at users who appreciate that airports act as hubs for business - with a high profile, accessible and secure environment," says Hutcheson. "The developers are substantially investing in new state-of-art infrastructure and, as a development incentive to encourage new businesses into the park, there are no development contributions for new build tenants.

"The greenfield nature of the Central Precinct zone means that section sizes can be tailor-made to suit individual client needs. In addition to the option of buying bare land, there is also the opportunity to purchase design and build packages.

"As a further incentive, in most instances, only a building consent is required for planned premises as the immediate location is not bound by any residential limitations on noise or hours of operation - which means tenants can operate 24/7 if need be."

On-site infrastructure already in place includes a 14.5m-wide service road, an electrical substation with underground cabling along the access road, fibre optic telecommunications cables and mains pressure water. Buildings within Central Precinct's freehold portion will have signage and branding frontage on to State Highway 21.

"With all infrastructure services in place, only a certificate of title needs to be issued. This allows for potential tenants to have purpose-built premises scoped out, designed and construction contracts to be tendered for, so that building work can commence immediately on taking possession of the title."

Sell-down of the neighbouring 12ha Titanium Park Stage One, on Raynes Rd, began in 2011 and is almost complete with outdoor equipment on-line retailer Torpedo 7 building its headquarters and logistics warehouse on the site.

Titanium Park's Stage Three, designated as the Western Precinct, will be designed for industry, warehousing, light manufacturing and logistics businesses wanting a larger footprint.

Titanium Park is planned to contain, when complete, a selection of food service operations, gymnasium, creche and landscaped parks that include viewing areas for flights into and out of the airport.

The location has convenient state highway access and will benefit from the construction of the Waikato Expressway and proposed Southern Links Motorway.

Hamilton International Airport sits at the junction of State Highway 3 and SH21. It is just a short distance from SH1 and near the North Island's main trunk rail line.

"The predominance of industrial and bulk retail developments around Hamilton city fringe over the past decade has been to the north," Hutcheson says. "As the availability of bare land decreases on that boundary and rentals increase among the existing constrained stock, traditional warehousing and light industry operations are looking to other options that include Titanium Park.

"Obviously, all new premises around Central Precinct will have the distinct advantage of being built to a minimum 100 per cent of new building standards under the new earthquake codes which are only now coming into play."

More than 700 people already are employed by businesses around the airport perimeter and this number is forecast to be 3000 on completion of Titanium Park.

- NZ Herald

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