"How big or small a new facility would be, will depend on the review process the university is engaged in at the moment. But we need an area for a much more sophisticated aquarium than we have now."
Property developer Paul Adams, a member of Waikato University's council, confirmed he was involved in the discussions around relocating the marine research station.
"I've been looking at the possibilities of combining that with developing a major aquarium facility, which could take up a site on the Marine Precinct," said Mr Adams.
Tauranga City Council was keen to sell one of the Marine Precinct sites to a developer, he said, and an advantage for the station would be direct access for its research vessels.
But he emphasised he was still in the early stages of putting a proposition together and needed to wait and see what the university's needs were after it had concluded its review.
Professor Battershill said any new site for the marine research station would also have to intersect with the development of Waikato University's new Tauranga campus.
"Our goal is to create a better version of what we have," he said. " Our vision is not only to improve our marine environment's wellbeing, but to create opportunities around innovation."
The research station was engaged in research projects with significant long-term commercial potential, he said.
"There's a bunch of stuff we would like to get into, but we're spread thin. We don't have quite the critical mass we need, and that comes with the facilities, so everything is linked."