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Soil has been turned on the first building at Precinct North, part of the massive Titanium Park business and industrial estate being developed at Hamilton Airport.
New Zealand-owned company Asmuss will be the first tenant at Precinct North, the newest stage of the 170-hectare business park bordering the Airport. Titanium Park Ltd is the property arm of Waikato Regional Airport Ltd.
The first sod has been turned on a purpose-built 5000-square metre building for Asmuss, a New Zealand-owned company whose polyethylene pipe extrusion plant has outgrown its Te Rapa facility. When the build is complete in April next year, the Waikato-based Asmuss operation, including around 40 staff, will move from Te Rapa and become anchor tenants.
Hamilton Airport chief executive Mark Morgan sahs the Asmuss design and build deal sees the Airport taking on the build in return for a long-term tenancy from a quality business. It will be a joint project alongside Asmuss and Hamilton-based construction company Fosters, he said.
“We see this contract with Asmuss as the beginning of a long-term relationship that will set the scene for what we want to achieve here,” he says.
“Being first off the block in Precinct North means Asmuss will help us set a benchmark in terms of design and we intend to set that benchmark pretty high.”
Asmuss chief executive Dean Brown says the expansion of the company’s manufacturing capability was about investing for the future “in an absolutely prime location”.
“This latest investment is all about being ready for when the infrastructure market recovers – and it will,” Dean says.
“At Precinct North, we have the ability to further expand if we want to. That’s why it’s important for us to have design input right from the beginning and to work with a long-term partner who, like us, is focused on opportunity.”
Over the coming 15-20 years, Mark estimates hundreds of millions of dollars will go into developing Titanium Park’s Precinct North. Waikato-based contractors MacPhersons have been on site since March undertaking earthworks across the 20-hectare first stage.
Cambridge-based civil contractors Camex Civil have been awarded the tender for roads and infrastructure and began work this month.
“This is a massive project not just for us, but for the wider Waikato construction and civil construction industries,” Mark says.
“Precinct North is big in itself, but is just one stage of a bigger picture. The full development of Titanium Park goes to our core purpose of operating an airport which is financially self-sustaining and provides value to the wider community. We are strategically using our landholdings to develop non-aeronautical income which we can in turn re-invest,” he says.
“Up until now, TPL has essentially been a land developer. Now are becoming a developer and a long-term investor and ultimately, an economic enabler for the region.”
When complete, Titanium Park will be one of the biggest business parks in New Zealand. It is just minutes from the Waikato Expressway and is already zoned for a broad range of industrial and commercial activities.
Already, more than 30 tenants or owner-occupier businesses are based at the park including Visy, Trade Depot, Tyreline Distributors and StorageKing. When complete over the next 15-20 years, more than 5000 people are expected to work on site.
