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Business park taking shape

Gisborne’s newest business park is taking shape alongside Gisborne Airport, as contractors in Gisborne experience a “dream run”. 

(this article appeared in the Gisborne Herald Business Quarterly - Monday September 2, 2019)

 

Ahead of schedule and less than six months after work started, Aerodrome Business Park expects to release titles between late September and early October. All but six of the available 28 lots have been snapped up by businesses looking either to expand or establish high-end purpose built facilities.

Bayleys’ salesman Mike Florance believes this is indicative of the “phenomenal industrial growth” being experienced here, with  businesses now requiring larger and more efficient purpose-built facilities.

“We are also seeing new businesses coming to town that have purchased property and are looking forward to establishing a presence here.”

The business park has been project managed by Civil Project Solutions,  with Earthworks Solutions as the lead contractor and a strong contingent of local sub-contractors including Downer, Fulton Hogan, Ritchie Civil, McLeods Concrete, Ben Holden Fencing and Electrinet to name a few.

Mr Florance said contractors had been having a “dream run” in relation to this development and as they gear up for other major capital works planned for the district. “Industrial building consent applications are down on last year and we are seeing demand outweigh supply for industrial land and buildings pushing up market values and compressing yields,” he said.

“Industrial-zoned land prices in areas are easily exceeding $250 p/m2 making the accessibility and affordability of the Aerodrome Business Park even more inviting.”

Aerodrome Business Park project manager Lennon Wiltshire said both local and out-of-town interest had been “through the roof ”.

“It’s predominantly heavy industry moving in but there are also some very exciting developments in the aviation zones — it’s very exciting.”

Six new builds were due to start immediately once titles for the lots were received. The first of those buildings was expected to be completed in July 2020.