Media Release - 15 September 2008

Council approves zoning change for Titanium Park
A major commercial and industrial development planned for the southern outskirts of Hamilton has been given the green light by Waipa District Council’s decision to re-zone some 117 hectares of land bordering Hamilton International Airport.

The Titanium Park development, a joint venture between Hamilton International Airport and McConnell Property, will house a balanced mix of commercial, industrial, manufacturing and aviation enterprises, and provide a range of purchase options catering to businesses of all sizes.

McConnell Property Head of Commercial and Industrial, Nigel Richards, said the Council’s decision to replace the previous rural and airport industrial zoning with a new Airport Business Zone is a tribute to everyone who participated in what he described as a “hugely consultative” process.

“We recognised that to make the re-zoning process work for everyone, it was vital to engage with all of the stakeholders, including neighbours, local businesses and councils. Gaining their support was critical. The subsequent success of the Plan Change demonstrates that the Resource Management Act can work well, particularly if it includes genuine stakeholder consultation and engagement,” Mr Richards said.

Hamilton Airport Chief Executive Chris Doak also highlighted the importance of community support for the development’s long-term success.

“The Airport is a strategic asset for the region and the development of Titanium Park provides a unique opportunity to expand the asset’s value. The progressive design will set a new standard for such developments in the region,” said Mr Doak.

The joint venture partners are now working towards finalising a start date for construction, with a ground-breaking ceremony mooted for some time in the near future.

Mr Richards said the new development will be a welcome relief to the local industrial and commercial market.

“The Waikato region is currently starved of this resource. Titanium Park is sited strategically between State Highways 1, 3 and 21, and is at the heart of one of New Zealand’s largest export regions. It will provide a valuable resource for existing and new businesses, and underpin the region’s strong economic progress.”

Ends
 
For further information contact:

Nigel Richards                                                    
McConnell Property         
Tel. 09 374 3300           

Chris Doak
Chief Executive Officer
Hamilton International Airport
Tel. 07 848 9027


About McConnell Property
McConnell Property is a leading New Zealand developer of quality commercial and residential places. McConnell Property applies leading urban design principles to its developments as part of creating great places to live and work.

Established in 1998, the business’s current developments include Titanium Park, a 65ha business park adjoining Hamilton Airport, the Ascot Central, a Green Star rated commercial development in Auckland, and a number of mixed-use and residential developments.

In early 2008 McConnell Property partnered with ABN AMRO, one of the world’s largest financial services organisations. The aim is to create one of New Zealand’s leading integrated property development and funds management business. The partnership is pending OIO approval.

McConnell Property is part of the McConnell Group, New Zealand’s largest privately owned property, construction and infrastructure group whose main subsidiaries are McConnell Property, Hawkins Construction and Steelpipe New Zealand. Two of founder Malcolm McConnell’s sons, David and John, are active in the Group as directors.

About Hamilton International Airport
Titanium Park is the latest stage of the development of Hamilton International Airport. Since the 1920s, when the site was first used by aircraft landing for pageants and gymkhanas, the Airport has grown steadily, including serving as a Royal New Zealand Air Force Station during WWII. Today, Hamilton International Airport is New Zealand’s third busiest certificated airport for flight movements, with a catchment area of approximately 700,000 people, and has the third longest commercial runway in the country (2,200m sealed runway).

The recent terminal redevelopment has earned Hamilton International Airport a national design award, and current projects such as the Titanium Park development and the planned runway extension will further enhance the Airport’s vital role in the region.
 
Hamilton International Airport is owned by five local shareholder authorities – Hamilton City Council and the Waipa, Waikato, Matamata-Piako and Otorohanga District Councils.