Fonterra's new head office is set to provide "a massive economic and visual injection" to the whole of Auckland and particularly the Viaduct Precinct.
The Fonterra HQ is part of a swag of new projects worth at least $10 billion - infrastructure, education, roading, commercial, retail, housing and prison projects - in Auckland.
It has been designed to reflect the farming co-operative's close links to the land and values including its "environmentally conscious and sustainable approach to business".
But crucially it is also a bellwether project signalling that the Auckland commercial construction market is rebounding from the Global Financial Crisis slump which brought commercial construction to a halt.
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Notably, Singapore sovereign wealth fund GIC recently bought a half stake in some of Auckland's newest commercial buildings via the Goodman Property Trust which retains a 51 per cent stake in the $313 million partnership. The projects show that Auckland is in "catch-up" mode. But they also pose growth challenges.