New Auckland Retail Development Gets Green Star

Thursday 3 May 2007

New Auckland Office/Retail Development Gets Green Star

A new $50 million office and retail development in Freeman's Bay, Auckland, is setting the pace for environmentally sustainable development in the city.

Napier Plaza is a new six-storey office and retail development in Napier Street, nestled between Auckland City and Ponsonby. It will have a mixed retail/child care and office ground floor, two large office floors, a top floor with extensive decks, as well as two floors of basement car parking with around 230 spaces.

"We believe Napier Plaza will be one of the first major office developments in Auckland built to the standards set by the Green Building Council," says Ken Wimsett, Managing Director of national property investment company Latitude Group.

The New Zealand Green Building Council is an inclusive broad-based industry organisation that has been formed to focus on green building.

Latitude Group has just received the necessary resource consents to begin work on the 10,000 square metre approx Napier Plaza development, which it expects to complete in the first quarter of 2009.

"Our ethos is to build and operate our buildings in an environmentally friendly way. It also makes great business sense, as Napier Plaza will have much lower operating expenses than a conventional building, which makes it very attractive for long-term tenants," says Ken Wimsett.

Operating costs, which include council rates, will be around $50 per m2 per year, compared with around approximately $85/m2/year for a conventional and older commercial building.

Napier Plaza will incorporate design features to allow high levels of energy efficiency, personal safety and security, as well as waste minimisation.

"We hope that one day all new commercial buildings will be constructed to the high standards we are setting for Napier Plaza. We expect a four or five Green Star rating based on the design work done so far by Robert Mannes from 22 Degrees, with additional advice from Beca Carter."

"We have already concluded a lease with a leading child-care facility and several café operators are wanting to be tenants, which shows how we see the Napier Plaza as setting a new standard in work-life balance."

"Latitude Group is committed to long-term ownership, so that tenants can rest assured we will be working with them for a long time to come. We like to meet with our tenants on a regular basis and discuss their needs and how we can accommodate their growth and future needs."

The location of Napier Plaza will also provide a huge opportunity for whoever takes up the naming rights. Although Napier Plaza will be built in a quite street, it will be visible from the Northern Motorway with thousands of people driving past each day.

The location, on the eastern city fringe and near major transport routes, also provides ready access for both clients and staff. In addition to the 230 basement car parks there is local parking available making it convenient for people working in or visiting Napier Plaza.

Construction of Napier Plaza is expected to begin in the middle of the year, following demolition of the existing building in May.

Construction will take around a year and a half, with the building ready for tenants by the first quarter of 2009.

Napier Plaza ­ building summary

* 27 Napier Street, Freeman's Bay, Auckland * A state-of-the-art Green Star building (four or five star rating) * Total floor space approximately 9472 m2 * A ground floor with 2793 m2 of office space (including retail and child-care) * Floors one and two: large pillar-less office space (2866 m2 approx each) * A top floor of 320 m2 with an outdoor deck (suitable for a conference room linked to the second floor or as a standalone office) * Two basement floors providing around 230 car-parks and cycle spaces * Naming and signage rights with the building visible from the nearby Northern Motorway

About the New Zealand Green Building Council The New Zealand Green Building Council (NZGBC) is an inclusive broad-based industry organisation that has been formed to lead New Zealand's focus on green building. Its web-link is www.nzgbc.org.nz .

NZGBC is a Non-Government Organisation made up of industry leaders committed to developing market-based solutions that help deliver efficient, healthier, innovative buildings for New Zealand.

The NZGBC's focus: * To develop Building Rating Tools for New Zealand (Green Star rating) * Increase the level of knowledge and expertise through education and training * To provide information and resources that will enable the industry to deliver tangible building performance improvements.

The NZBGC is part of the World Green Building Council, which aims to be the peak global not-for-profit organisation working to transform the property industry towards sustainability.

Member countries include Australia, Canada, India, Japan, Mexico, Taiwan, United States and the United Arab Emirates and now New Zealand. Green Building Councils are also emerging in Brazil, Chile, Greece, Guatemala, Israel and the United Kingdom and some 30 other countries are actively considering forming their own.

The building industry has a vast impact: worldwide it is accountable for an estimated 30 percent of the world's raw materials, 20 percent of land use, 30 percent of water use, 40 percent of energy consumption and 40 percent of all solid waste produced.

To address the role building and construction plays in addressing these issues Green Building Councils are being formed in many countries around the world.

About Latitude Group Latitude n.1. freedom from narrowness, liberality of interpretation 4. breadth, scope. Concise Oxford Dictionary

Web-link: www.latitudegroup.co.nz and www.napierplaza.co.nz

Latitude Group is a privately owned New Zealand company with a portfolio of high profile and high quality property investments together with a history of creating superior residential and commercial buildings.

Completed projects include * City Zone, which is a residential apartment tower in central Auckland city. The building comprises 20 floors and 165 apartments. City Zone was completed under budget, ahead of time and completely sold prior to start of construction. * Valcluse, 112 Parnell Road, Parnell a mixed use development including 5 exclusive penthouses which is also home to Latitude Group's Auckland Office * Chapel on the Park, a residential and commercial building in Botany Downs. This was classified as a "Green Fields' development and endorsed by the Mayor of Manukau City as the way of the future.

Current projects include * Workstation55, a secure and fully landscaped business park on 8.5 acres in Addington, Christchurch (final stage due for completion September 2007) * Club Tower in Worcester Street, central Christchurch. This will be a 13 level building including retail, commercial offices and two exclusive penthouse apartments, directly behind the Canterbury Club (due to commence later this year) * Waipara Wine Village & Day Spa, a $60million development in Hurunui (commencing later this year) * Habitat, The Greens Building in Ellerslie, Auckland, a two level office building comprising approximately 2300m2 and 75 car parks (under construction for the new tenant to take possession January 2008).

Ken Wimsett, Director With 25 plus years in construction and a "thinking outside the square" attitude, Ken manages all areas of Latitude Group's projects. From conception to completion including site acquisition, feasibility, funding and construction, Ken works diligently with his team on development projects.

Ken's primary focus is quality products and quality delivery of service to clients and stakeholders. Ken is a perfectionist and sets a high standard for his team of staff and consultants who work along side him.

Ken is a Master Builder by trade who has successfully completed a large number of residential and commercial buildings.

Heather Walton, General Manager Heather is General Manager of Latitude Group. She has a legal career of 14 years plus specialising in property law and large property projects. Heather's primary role objective is sales, marketing, leasing and supporting Ken with project management.

She ensures the team is working together to achieve Latitude Group's professional and quality focus.

Clint Greaves, Development Manager Clint assists Ken across all elements of the Group's current and future properties.

Clint has a Master of Commerce degree in Management Science and Information Systems as well as degrees in Marketing and International Business and Operations Management. He has worked as a Business Analyst, Management Consultant and Finance Director in both New Zealand and the UK within both medium size and multinational companies.

Since returning from the UK in 2002, Clint has been an active residential property investor. He has also presented at large property seminars and managed a Residential Property Mentoring Programme.

ENDS

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