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Airport land sales seen as breakthrough for future development

21 October 2011 - Hamilton International Airport has greeted news of the sale of a large block of land on the airport precinct as having the potential to be a major catalyst for growth and development in the region.

The Airport’s joint venture business park, Titanium Park (in association with McConnell Property), has sold 12 hectares of land known as the Rayne’s precinct, which had been identified as stage one of Titanium Park’s development.

The sale represents the entire stage one land area.

Internet e-commerce retailer and logistics company Torpedo7 has bought the land that it will use to base its Australasian business operation.

Hamilton International Airport CEO, Chris Doak, says the land sale is the culmination of years of strategic planning by the airport to better utilize surplus land that included the establishment of Titanium Park, and the vision of creating a freight and distribution hub.

“We believe that the land sale to Torpedo7 has the potential to create significant ongoing value for the airport because of the nature of their logistics business. Torpedo7 creates the need for a huge volume of airfreight from its on-line sales throughout New Zealand and Australia. It is obviously a strategic opportunity for Torpedo7 to be based by an airport. We are hoping it will be a catalyst for increased freight potential going forward, including attracting similar businesses to locate at Hamilton Airport,” says Mr Doak.

Waikato Regional Airport Limited Board Chairman, John Birch, says unlocking the airfreight potential for Hamilton remains a long-term goal.

“It has always been the airport’s vision to see a significant airfreight operation based at Hamilton because of its central location, proximity to road networks, a strong business environment and because Hamilton is at the heart of the largest export region in the country. Up until now we have been missing a piece of the jigsaw, which can under-pin an airfreight operation. Equine freight remains a strong possiblity. Torpedo 7’s business generates regular and high volumes of additional airfreight which could create critical mass and efficiencies to attract others businesses that could use Hamilton Airport for its airfreight,” says Mr Birch.

The key advantage of Titanium Park is its connectivity both in terms of its strategic location and access to modern fibre optic infrastructure.  Located in the heart of one of New Zealand’s largest export regions, the high-profile development is flanked by State Highways 1, 3 and 21, and is adjacent to Hamilton International Airport.  The Park is supported by high speed fibre optic connections making it easy for the likes of Torpedo7 to do business.

Founded in Hamilton in 2003, Torpedo7 is one of country’s fastest growing companies, the adventure retailer’s revenue has grown 570% in three years.

Torpedo7 plans to build a number of buildings at Titanium Park.  Stage 1 will include a 12,000sqm warehouse and 3,500 sqm office, followed by a further two over the next 3-4 years. And, in line with the company’s culture, Torpedo7 will develop a campus-style facility with a high standard of staff amenity. 

This is a significant transaction which reinforces Titanium Park’s credentials as a high quality and well located business park which has been designed with the end user in mind.  It is also a clear vote of confidence for the Waikato region as a whole, and for continued development to the south of the city. Titanium Park is creating a vibrant commercial and industrial hub for the region. It is an ideal location for major freight and logistics businesses to base themselves. They have a unique opportunity to establish a cluster with considerable economic advantage.

Waipa District Mayor Alan Livingston says the land sale is tremendous news for the future development of Hamilton Airport and the Waikato economy.

"It is very likely this development by Torpedo 7 is a catalyst for the growth of additional airport related businesses. It is exactly what we needed to happen."

Hamilton Mayor Julie Hardaker has also welcomed the land sale news. "Hamilton Airport and what happens there is a crucial part of our regional and city economy. To see the airport moving ahead like this is a significant and positive boost."

Hamilton Airport recently received positive planning outcomes and recommendations that would allow it to extend its runway out to nearly 3000 metres when viable.

A 3000 metre runway opens opportunities for larger aircraft to use Hamilton Airport for long haul flights and creates the ability for airlines to carry more passengers and larger amounts of freight to more destinations – including Asia direct.

The land being sold by Titanium Park is at the northern end of the airport on the corner of Airport Road and Raynes Road and is surplus to the aeronautical needs of Hamilton Airport.

ENDS
For more information contact:
John Birch
Airport Chairman
021 637 912

Chris Doak
CEO Hamilton Airport
027 4313616