$130 million Otahuhu business park on track
Tuesday 11 May 2004
Macquarie Goodman plans to build a large $130 million industrial park comprising 10 warehouse-office industrial buildings on a 26.6-hectare site in Otahuhu, South Auckland.
By The LandlordSubject to Overseas Investment Commission approval, the $34.4 million purchase will be completed soon and work is expected to begin within three months.
The site on Savill Drive was once the location of the Otahuhu Railway Workshops which closed in 1992.
At their peak, the workshops employed over 2300 workers repairing and maintaining railway rolling stock as well as manufacturing hospital and school boilers, tugboat superstructures and petrol tanks.
The Otahuhu industrial park will be a joint venture between Macquarie Goodman Industrial Trust (MGI) and Macquarie Goodman Property Trust (MGP).
Read More - Opens in a new window
Commenting is closed
It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.