Trustpower's $25 million, three-storey development at the heart of Tauranga's CBD is one of the big projects that's helped commercial consent income double in the last month.
Priority One's latest Building Consents commentary for October was released yesterday, and shows the commercial sector has doubled last month's $5.5million total in commercial building consents to $11.1million.
Construction is underway at the new Trustpower site on Durham Street. Photo: Tracy Hardy.
These figures were still below the $14.1m issued last October and the two-year high of $16.6m recorded in August this year.
The spike is thanks to consents being issued for stage two of the Trustpower head office development in Durham Street and the development of a warehouse and offices for Metalcraft New Zealand in Tauriko.
Once complete, the $25m building will house up to 450 Trustpower staff within the three-storey development.
The new building will consist of three floors and a basement which will be below ground level in Durham Street and at ground level at the rear.
'There is still a long way to go but it's on schedule,” says Trustpower community relations manager Graeme Purches.
The number of commercial consents was 29 - a significant increase on the 12 issued last month and also ahead of the 23 issued in October a year ago. The two-year high was 35 consents issued in August 2014, while the low of nine was recorded in January 2014.
Meanwhile residential consent income dipped slightly to $35.6m from last month's $37.6m and the $39.7m recorded in October 2013.
But the total number of consents was up at 185, ahead of last month's 162 but less than the 191 recorded in October 2013. The two year high was 226 consents issued this August 2014.
In the Western Bay of Plenty the total value of consents increased from $11.7m to $12.7m and the $7.5m recorded last October. This is the second-highest monthly total for the last two years.
Continuing the trend is the number of consents rising to 102, well ahead of the last months 72 and the 65 recorded in October 2013.
4 comments
one
Posted on 13-11-2014 11:18 | By Capt_Kaveman
building goes up and consents go up?? will i guess if you say the underground carpark and 3 storys is 4 consents + all the hogwash i guess it would add up to what ever number they wish it make it
$$ Out of Your pocket
Posted on 13-11-2014 15:24 | By The author of this comment has been removed.
Let's remember that the $25 million is coming out of the consumer's pocket. I still don't understand why Trustpower must be in the CBD, when Te Maunga site is adequate for expansion. Nobody from Trustpower has ever answered this question.
Facts
Posted on 13-11-2014 16:26 | By purchesg
1. Trustpower is not spending $25 million on a building so it doesn't "come out of the consumers pocket". It is being built by developers, for Trustpower, which will be the cornerstone tenant in a long term lease arrangement. 2. We are not talking Caves here man. We are talking the total cost of building consents issued by the Council. The consents have to specify the value of the consent the application is for. Still, I understand the confusion - consents weren't required for caves.
@ purchesg
Posted on 14-11-2014 07:01 | By The author of this comment has been removed.
Buying or renting, either way this increased cost comes out of the consumer's pocket. I see no valid reason that this business must be run from prime land in the CBD. It is a communications centre only nowadays, no retail side, everything is done "over the wire". These flash offices could become empty if more were allowed to work from home.
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