A $1.5 million redevelopment of Manfeild Park's motorsport facilities will take place if enough commercial partners sign up for corporate suites and garages on an international-standard pit lane.
Manfeild Park Trust chairman Ben Vanderkolk said the planned construction of pit lane garages and corporate suites is in recognition of the
high level of corporate investment in motorsport.
However, the extent of redevelopment is subject to funding.
Manfeild Park is negotiating with Toyota New Zealand for a long-term licence allowing the company exclusive use of one of 11 modules. Each module will comprise two pit garages, with a corporate suite above fronting the pit lane and overlooking the race track.
The trust is seeking 10 other commercial partners.
Redevelopment could be completed module by module, Mr Vanderkolk said.
Corporates could entertain guests on race days and use the suites for corporate promotions and events on non-racing days.
Manfeild has also entered an exclusive negotiation agreement for the New Zealand rights to an Australian motorsport event that will have an "Aussie v Kiwi" flavour to it.
Negotiations will continue this month.
A property abutting Manfeild Park has been bought by the Manfeild Park Trust for $175,000.
Trust board member Michael Ford said the property, which includes a house on a section of more than 4000 square metres at Kawakawa Road, will provide the park with long-term options as well as rental income in the meantime. A grandstand could be built there or modifications made to the motor racing track.
However, construction of stairs leading to the seating area has been put on hold.
- NZPA
