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Two further property developments signed for AIAL

27 February 2006

Two further property developments signed for Auckland Airport

Auckland International Airport Limited (AIAL) today announced two commercial property deals it has signed recently. Included is the first building in a new area the airport company has opened for development, to the north of the future northern runway.

The first project is the development of a new office/warehouse for New Zealand relocation and storage specialists New Zealand Van Lines Limited. The second is an extension to the existing Fliway Logistics warehouse which will effectively double its size.

AIAL will construct a 6000 square metre warehouse and 800 square metre office facility for New Zealand Van Lines on a site in the new north airport development area. The New Zealand Van Lines facility will be the first to be developed by AIAL in this area and will have exposure towards George Bolt Memorial Drive – the main access road to Auckland Airport.

Fliway Logistics opened the initial stage of its office/warehouse in 2004. A further 3800 square metres will be added by this project, almost doubling the size of the warehouse to 7800 square metres.

AIAL general manager of property, Nick Ansley, says he is thrilled to welcome a new tenant to the airport. “The addition of New Zealand Van Lines to the 10,000-strong airport community adds to commitment we have for high quality tenants in buildings of high quality construction.

“What is satisfying is the opportunity to open up the development area north of the future northern runway. With five hectares immediately available, we also have another 150 hectares of land identified for commercial use in the north airport area.”

New Zealand Van Lines managing director, Errol Gardiner, says that the new facility at Auckland Airport will be the company’s Auckland region base. “The airport location suits New Zealand Van Lines because of its proximity to international air links and the state highway network.”

Nick Ansley says that the Fliway Logistics expansion has come a lot sooner than anticipated. “We are now effectively doubling the size of the premises on land that AIAL was prepared to hold for up to five years for an expansion and the second phase of their development comes only 18 months after the initial development. Fliway Logistics’ business has grown very rapidly!”

Ansley says that these developments add to the growing number of businesses basing themselves at Auckland Airport. He says they benefit from the location, as well as the services located close by, including food and beverage, shopping, service stations and recreation. AIAL holds an investment portfolio of 40 properties worth over $172m.

The two new projects will begin construction in the first quarter of 2006, with the Fliway extension due for completion by August 2006 and the new New Zealand Van Lines facility to be completed by the end of November 2006.

ENDS

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