More than $350 million has been identified as potential investment in the Tauranga's city centre in the next five years.

Priority One believes the potential investment is a sign of the growing confidence New Zealand's fifth largest and fastest growing city.

Trustpower's 525 staff moved into the CBD when the news offices opened in February. File photo.

'A strong indicator of the growing confidence in the city centre was witnessed in February as we welcomed Trustpower's 525 staff into their stunning new bespoke premises on Durham Street,” says Priority One chief executive Andrew Coker.

The relocation from their old premises in Te Maunga was completed by early March and with it, Andrew feels the CBD rapidly took on a new, vital and vibrant feel.

'The investment by Trustpower in its building, people and a state-of-the-art ‘activity based working' environment is not only significant, it also contributed substantially to, and reflects the growing confidence and interest in, city centre investment and development.”

Priority One is aware of at least six companies that are well into the throes of considering a move to Tauranga's city centre, with two of these from out of region.

Andrew says they will also bring new knowledge-intensive jobs to the city centre.

City centre investment over the last five years has totalled approximately $150 million, largely from the private sector.

Priority One has identified potential investment over the next five years, both public and private, in excess of $350 million.

This includes the university-led tertiary and research campus now in planning, a potential four to five-star hotel, and of course Tauranga City Council's initiatives around development of a new civic campus.

'This bodes well not only for the city, but also the broader Western Bay of Plenty sub-region,” says Andrew.

'A strong and vibrant civic, commercial and cultural heart will be vital to our ability to compete nationally and internationally for skills and talent.”