KEY POINTS:
A business park expected to accommodate operations employing 5000 people is to be established on 80 hectares of Hamilton International Airport land.
As well as catering for businesses already in the Waikato, it is thought the park will be attractive to industries in Auckland and Tauranga, who are faced with rising land prices.
The joint venture between the airport, wholly owned by five local councils, and McConnell Property was announced today to develop the commercial and industrial park on airport-owned land sited between State Highways 1, 3 and 21, south of Hamilton.
Rezoning of the land involved is anticipated by the middle of this year.
McConnell Property head of commercial and industrial Nigel Richards said it was hoped earthworks could get under way this year.
While the market would determine how long the development would take, it could be thought of as having a 10-year plus time horizon. Details of the cost of the project were still being worked on, he said.
Prospects for the park, which would be one of the largest in this country, were good.
There had been a lack of zoned business land in the Waikato, one of the country's largest export regions that was growing faster than the country as a whole, Mr Richards said.
The park would be in competition with other industrial and commercial areas around Hamilton, such as Te Rapa on the northern side of the city, as well as areas in places such as Cambridge and Te Awamutu.
It was thought it would appeal to businesses already in the Waikato and looking to relocate, possibly because they were expanding or because the costs at the new park were lower than at their existing location.
The strategic roading network around the site was seen as being an important draw for some businesses, while proximity to the airport would also be an attraction for some.
Hamilton airport chief executive Chris Doak said an extensive due diligence process had been undertaken to ensure the airport's aeronautical interests had been protected for the long-term while maximising the value of surplus land surrounding it.
The business park would be marketed with a range of freehold and leasehold options for all sized businesses, providing for a balanced mix of commercial, industrial, clean manufacturing and aviation use.
- NZPA
