SPONSORED POST
Quayside Holdings Limited, the commercial investment arm of the Bay of Plenty Regional Council, is at the forefront of the Rangiuru Business Park development, driving substantial economic and social benefits for the region. Established initially to be the custodian and majority shareholder of the Port of Tauranga, 30 years on, the portfolio has grown to include a range of asset classes ensuring the delivery of long-term returns that benefit the Bay of Plenty community.
In the context of Rangiuru Business Park, Quayside plays a pivotal role as the lead developer, overseeing the creation of what is set to be a major economic hub for the region. The Business Park, which encompasses a significant portion of the Bay of Plenty’s industrial development, reflects Quayside’s commitment to both regional growth and intergenerational wealth preservation.
One of Quayside’s key contributions to the Rangiuru Business Park is its substantial investment in infrastructure. This includes delivering a large majority of the horizontal infrastructure — such as roads and utilities — necessary to support the Park’s growth. This approach, coupled with the development of a critical motorway interchange bridge, demonstrates Quayside’s dedication to ensuring that the Park is well-equipped to meet future demand. Notably, $18m of the funding for this interchange came from the Provincial Growth Fund.
The Rangiuru Business Park is distinguished by elements that go beyond visible infrastructure. The project’s funding, which involves significant investment from Quayside without relying on pre-sales of land, is an unusual undertaking for a commercial-driven organisation.
This major infrastructure project has made significant progress in the past year. Operating with five lead contractors managing different workstreams simultaneously, Quayside has effectively promoted collaboration and site management.
The motorway interchange connecting the business park to State Highway 2, led by Higgins, is nearing completion with precast panels, steel safety rails, and completed earthworks and culverts. Bay Civil has delivered 22,000m² of internal roads, 8,000 meters of storm, waste, and water services, and prepared 3,000 meters of common services for Stage 1a. JMC is progressing with bulk earthworks and maintaining high environmental control standards. The Wastewater Rising Main project is nearly complete, with HEB installing 6,400 meters of pipeline to the Te Puke Wastewater Treatment Plant, which is also being upgraded by the Western Bay of Plenty District Council. RZG’s work on two wastewater pump stations is almost finished, crucial for connecting the Park to Te Puke’s infrastructure. And Stage 1b construction is underway.
Beyond infrastructure, upholding cultural values and environmental considerations within the development are paramount for the teams. The Cultural Masterplan, developed in partnership with mana whenua, ensures that the Park respects and reflects the cultural heritage of Tapuika. This involves incorporating traditional patterns, names, and elements into the Park’s design, which will be visible in features such as street names and shared pathways. This thoughtful integration of cultural elements honours local traditions and enhances the Park’s value and appeal.
“Quayside’s purpose is to grow a responsible, diversified and intergeneration fund for the benefit of the Bay of Plenty community,” says Lyndon Settle, CEO of Quayside Holdings. “It is through protecting and growing the net value of the portfolio that we can have the greatest impact. In addition, we invest in the betterment of our region through environmental, social and cultural initiatives where possible.”
Awarding contracts to local Bay of Plenty businesses keeps pūtea (funds) in the region. Settle says Quayside is “working collaboratively with iwi to support their aspirations and actively looking for opportunities to grow rangatahi (youth) into construction and horticulture career pathways.”
“Value comes in many forms and these are just some examples we’re proud to be associated with.”
The Business Park currently supports approximately 200 workers daily and is expected to create 4,000 jobs upon full development, boosting the Bay of Plenty’s economy.
The Rangiuru Business Park aims to create a Bay of Plenty that is enduring, resilient, and vibrant by blending physical, social, ecological, and cultural aspects to foster environments that promote health and well-being. This comprehensive approach aligns with the ‘live, work, and play’ philosophy, ensuring that the Park not only stimulates economic growth but also enhances community life.
A central aspect of this vision is the creation of a 45-hectare stormwater pond and wetland to manage stormwater for some of the park. Historically abundant in kahikatea and mānuka trees, the long-term goal is to honour these historical landscapes and support diverse wildlife such as eels and crayfish, an example of the commitment to ecological and environmental stewardship, aiming for a balanced and harmonious urban setting. Preserving this delicate ecosystem is crucial to the development, with the Quayside team and their consultants continually working to minimise environmental impact. Additionally, a cultural masterplan is being crafted to ensure that the cultural heritage, values, and interests of Tapuika are respected and seamlessly integrated into the park’s design, rather than being an afterthought.
For investors, Rangiuru Business Park offers opportunities both in land acquisition and development partnerships. Investors can purchase freehold industrial sites or explore options with Quayside to develop custom-built facilities tailored to their needs.
Quayside’s role as lead developer in the Rangiuru Business Park exemplifies its broader mission to manage and grow investments that benefit the Bay of Plenty community and positively shape the future of the region’s economic and social fabric.
For more information visit rangiuru.co.nz.
Position your company as an industry thought-leader
To find out more about sponsoring a post in Property Council’s publications, please click here.