Vision for Invercargill business park still alive
Russell Cunningham Properties directors expect 2016 to be their busiest year for development at Invercargill Business Park with four projects under way.
Quantity surveyor/project manager Alex Cunningham said the vision Russell Cunningham had for the Invercargill Business Park at the old showgrounds site in 2007 was still alive.
The business park, which spans 28ha, has a mixture of leased and business-owned and operated sites which have been gradually developed since 2007.
Of the business park's 63 plots only 18 were still available, Alex Cunningham said, with two sections already signed up under a conditional contract in 2016.
"2016 is going to be a big year for the site."
It was only the start of the year and they already had four projects on the go, he said.
"That is the most projects we have ever had going on the site at one time."
They were also in the middle of finalising plans for the cafe they hoped would open at the same time as the scheduled completion of the new multi-tenanted building in Arena Ave in September.
A retail complex and supermarket were still part of the vision for Russell Cunningham Properties, he said.
"It is still part of the master plan, it would be an anchor for the area."
They had approached several businesses about filling the retail space, but had so far been unsuccessful in their search.
Most businesses at the site were either trade-retail or services, he said.
"They are businesses that you don't typically find in a CBD."
Although there was a variety of reasons that people decided to open shop at the old showground site, most businesses there were already well established in Invercargill or Southland and moved because of business growth, he said.
As earthquake regulations got tighter new developments were increasingly attractive investments for businesses, Cunningham said.
A lot of buildings would cost landlords and managers a lot of money to upgrade to meet the standards, and new buildings that already met the earthquake code 100 per cent would only become more popular, he said.
"Going forward it will be a major drawcard for us."