Project confidence and partnership for new Transocean Business Park in Christchurch
The Transocean Business Park in central Sockburn has a mix of office, showroom and warehouse units. Being situated just 7.5km from the Christchurch Airport, and 6km from the city centre, means the location and quality of the park are enviable. Developed for investors, or owner-operators, the park has created new supply for a market that is hungry for new developments.
A trusted partner to drive project confidence
Transocean was put in touch with White Associates through its bank, ANZ, which required Transocean to retain the services of an independent quantity surveyor to oversee and audit the drawdown of construction funding during the construction phase of the project.
Transocean Developments Director Jon Howard says:
“The White Associates team and service ensured that ANZ was confident that the project was on track and on budget over the drawdown period.”
And it is not just bank funding, drawdowns and claims valuations that White Associates has facilitated for Transocean.
“White Associates have been the consummate professionals and the team really understands the construction business. Darin and Andrew have been responsive to any issues that have arisen throughout the project, which made them a great partner to have on board”
Darin Bayer, White Associates Director, says the high-quality design of the Transocean property is one of its strengths, as it has fantastic street appeal:
“The property has more sizzle than your standard industrial units, which puts it ahead of other facilities like it; ample parking and the final quality are also great features.”
Competitive pricing characterises Christchurch industrial market
Darin says at present, there is a shortage of larger scale developments commencing in Christchurch, therefore some contractors in the market – especially the mid-tier contractors – will provide reasonably competitive pricing in the near future.
Jon says there’s been a noticeable slowdown in the local industrial market, but that has only created more opportunity and demand for the new development.
“The wider Christchurch market for new industrial office and warehouse products has markedly slowed over the past six months. However, given its excellent location, distinctive design and quality of construction, the demand for both the sale and lease of units in the Transocean development has been strong.”
What’s next for Transocean?
With the project now effectively finished, with some of the units settled and one already occupied, the next step for the Transocean development is the marketing of the final remaining units, and then on to new opportunities.
Jon says Transocean’s next development is a 17,600 m2 greenfield industrial development located in the fast-emerging Belfast area, located to the north of Christchurch.
“We are also investigating opportunities including commercial and residential apartments in central Christchurch, so we’re looking forward to creating new developments in the region in the coming months and years.”
White Associates is looking forward to working on future projects with the Transocean Developments team, and architect David Snell from SHL Architecture. Find out more about the Transocean Business Park here.
Darin Bayer and Andrew Newlands led the White Associates team for the Transocean property project. Darin constantly completed site visits, which meant high levels of communication with the client at all times throughout the project.
White Associates services:
White Associates enabled the funding process for the new facility to work smoothly. In addition, we provided assistance in valuing the contractors’ claims on the project.