We believe we have a very attractive package for companies to move to the district
13 November 06
Selwyn District Council's decision to invest in the South Island's largest commercial property development is starting to bear fruit for ratepayers. The council recently appointed property company RD Hughes to manage and market the development of the 160 hectare Izone Southern Business Hub on the outskirts of Rolleston.
Since its appointment, RD Hughes has sold 10 sites ranging from 2000m2 to 7500m2 with a combined value of $3.9 million. The largest site was purchased by farmer cooperative CRT while the other sites were bought by a range of companies including property developer Castle Commercial, a subsidiary of Horncastle Homes, says Director Robin Hughes.
Izone is located at the junction of the West Coast and South Island Main Trunk rail lines. Adjacent to State Highway 1, it is 25 minutes from the Christchurch City Centre and 20 minutes from Christchurch International Airport.
"Its location on the doorstep of one of the most productive agricultural regions in New Zealand makes it an ideal rural service centre, while its proximity to Christchurch, the airport and rail links to major shipping ports makes it attractive for manufacturing, engineering and distribution companies," Mr Hughes says.
According to Cr Jens Christensen, Chairman of the Izone Project Team, Izone grew out of an economic development strategy that the council wrote in 2001. The council accumulated the land through purchases of rural blocks over the past five years.
Three years ago The Warehouse built its 30,000m2 South Island Distribution Centre on the site - the largest purpose-built warehouse in the South Island. The council then turned over ownership of the facility to an investment fund for a profit of $1.5 million.
"With RD Hughes as development manager, Izone has switched gears and is now attracting strong qualified enquiry," Cr Christensen says. "Robin and his team are successful developers in their own right, having built the Northwood subdivision near Belfast, and are currently developing another residential subdivision in West Melton."
Cr Christensen adds that investments such as Izone assist the council to reduce rates and improve growth in the district. The council's general rates are subsidised 50% by dividends from its investment activities. The development is also expected to boost employment, not only in Rolleston but in other towns across the district.
Izone features high-quality amenities to provide employees with a 'work-life' balance. The 'hub' is a central reserve, which in time will accommodate eateries and a crèche as well as provide green space for recreation and relaxation. The reserve will be connected to workplaces by landscaped walkways. "We believe we have a very attractive package for companies to move to the district which will create employment opportunities and returns to shareholders, who are our ratepayers," Cr Christensen says.