40 | Otago: Mainland Capital - Taieri Business Park REGIONAL DEVELOPMENT Meeting demand in Mosgiel Stage two development at Taieri Business Park included a bespoke design and build lease for Vulcan Steel. T T Russell Fredric Established in 2010, Mainland Capital provides investors access to a range of core and value add property funds across New Zealand’s commercial property sectors. Mainland’s investment strategies are tailored to its clients, providing varied risk and return profiles. The firm is supported by a dedicated team of industry experts focused on delivering long-term value within defined strategic parameters. Taieri Business Park in Dukes Road, Mosgiel, is an example of a development that Mainland Capital has been delivering over the past three years. Mainland Capital Development Manager Anna Lough says the company acquired the 4.2 hectare site in 2019. We had identified the substantial government, local council, education and health expenditure programmed for the region. We also noted a shortage of good quality, freehold industrial land in Dunedin. “A lot of prime well located land is controlled by ground leases, and it was apparent there was going to be a natural push towards good quality industrial development in the Mosgiel/Taieri area. Mainland Capital has a long-standing relationship with farm machinery company Norwood, and was seeking to partner in relocating to a new purpose-built facility from its existing location in Mosgiel where it had been for over 40 years. “This rural site became available for sale, which as a redevelopment site worked for us, as well as being an attractive location for Norwood. We identified that we could complete a new build for Norwood in conjunction with subdividing the site for future industrial development .” Groundwork started early 2020. The 4.2 hectares comprises six industrial lots and incorporates the newly developed Tarakihana Drive, a public road that has been vested to Dunedin City Council. Stage one of the business park comprised the completion of subdivision, the warehouse/ showroom building for Norwood who have now been operating from it since July 2021, and a land lease to funeral directors Campbell & Sons. Stage two included a bespoke design and build lease to Vulcan Steel, a significant business that employs more than 1500 staff throughout Australasia. This development enabled it to relocate from an outdated building in central Dunedin. We have also completed a facility for Rockgas that was delivered in September last year, leaving two lots available.” The area where the park is sited has come into its own in recent years, Anna says. “Vulcan Steel moving out to Mosgiel proves that you can be located on the periphery of Dunedin in a quality, purpose built facility, with excellent connectivity between Dunedin and Central Otago.” Taieri Business Park will be complemented by an industrial development being undertaken by another developer creating a significant business hub in the area that will be an attractive and affordable option for many businesses as owner occupiers or tenants. “Dukes Road as a destination is now transitioning from a rural agriculture based location to a desirable industrial location.” “It’s going to serve businesses well in the long term, due to the scarcity of freehold land available in Dunedin. “We are happy with what we’ve created and look forward to completing the Park with the development of the last two lots, expected to be completed by the end of next year”. Aotea Electric Southern is proud to be associatedwith MainlandCapital and the Taieri Business ParkDevelopment Aotea Electric Southern 03 455 1039 | aoteaelectric.co.nz P 03 488 2922 | E info@clearwatercivil.co.nz 7 Brighton Road, Green Island, Dunedin Drainage | Asphalting | Roading Earthworks | Demolition Commissions of storm water, wastewater and water reticulation Underground power, gas and telecommunication infrastructure. CONTACT: David Brown 0274 404 509 landscaping@nicholsgroup.co.nz | www.nichols.co.nz
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