Interest strong in $100m Sylvia Park offices

By Coran Lill

Friday 30th July 2004

Development of offices at Auckland's Sylvia Park will take place across five to six years at a cost of $100 million.

A number of businesses have already approached the park's owner Kiwi Income Property Trust to register interest as potential tenants.

The trust is building a town centre on a 24ha site in Mt Wellington, Auckland.

The final development will be used for retail, business, entertainment, education, residential and community purposes.

Two weeks ago Kiwi Income announced it had lodged a resource consent application for the first $300 million retail stage.

The office park complex will include five- to six-level buildings with more than 25,000sq m of office space and 1200 car parks.

Kiwi Income chief executive Angus McNaughton estimated that more than 5000 employees would eventually work in Sylvia Park which will house businesses ranging from call centres to more specialist businesses.

Business parks without good retail amenities such as cafes and shops to attract and retain businesses were a thing of the past, he said.

The first stage of the development will be a $300 million low-rise retail and entertainment centre of 55,000sq m with 3000 car parks.

A fulltime person working on the office park development has just been appointed but the office development is not Kiwi Income's top priority at present.

"A number of businesses have approached us to make enquiries. We're not ready though," McNaughton said.

"We're concentrating on retail at the moment.

"But we're moving toward the business development quite quickly."

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