Media Release – 30 June 2005 - For immediate release

Manukau still a land of opportunity

Manukau City still offers ample opportunity for property investors who are finding that the wider Auckland region is simply running out of room.

“Manukau still has room to grow,” Mayor Sir Barry Curtis told those assembled at the 2005 Property Investment Forum, organised by Enterprising Manukau and held at the Telstra Clear Pacific Events Center on the evening of 16 June.

The availability of land for new houses and businesses is a factor that dictates growth. Manukau’s population increases by 10,000 a year, and 20 new houses are started every day in Botany South alone. The Flat Bush development alone will house tens of thousands of people when it is completed.

Property developers see Manukau City as offering available land at competitive prices, and in a strategic location close to major infrastructure.

It is for these reasons that Macquarie Goodman New Zealand Limited, one of the largest industrial property groups in the world, has invested more than $100million into three major Manukau developments.

CEO John Daiken says that Manukau is ideal for those organisations who need plenty of land and transport benefits. At Savill Link in Otahuhu, the company is banking on a $130m integrated modern industrial estate to form a warehousing and distribution focus. Westney Industry Park, on 34 hectares close to the Airport, will have more of a boutique focus for the company, and Highbrook Business Park, positioned on 150ha near East Tamaki, will be the workplace of up to 12,000 people when it is completed.

Daiken commends the Highbrook development for its forward planning. “It is one of the best thought through developments I’ve seen,” he explains.

Also speaking at the Forum were Leigh Auton, Director Environmental Management Group at Manukau City Council, and David Poole, Director of Bayleys Real Estate, Manukau.

Auton explained that town centre revitalisation is occurring in Manurewa Town Centre, Manukau City Centre, Hunters Corner and Old Papatoetoe, Pakuranga Town Centre, Mangere Town Centre, and Otara Town Centre.

Poole predicts that land users will begin to look at alternatives to design and build projects, and will instead seek to redevelop existing buildings, as rentals climb in top areas. He anticipates that more businesses will decide to stay in Manukau and support local businesses, as transport problems force them to minimize travel distances.

The Economic Briefing was organised by Enterprising Manukau, Manukau’s Economic Development Agency dedicated to the growth and development of Manukau City.

Enterprising Manukau also organises the Westpac Manukau Business Excellence Awards. The Awards Gala Dinner will be held on 18 August 2005 and ticket enquiries can be directed to www.bizawards.co.nz.

ENDS

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