Waikato Business News August/September 2020

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28 WAIKATO BUSINESS NEWS August/September 2020 LAKEWOOD CAMBRIDGE Lakewood makes its mark From page 27 There are about 1450 square metres at ground level and a further 500 square metres of office space on the first floor. The signs for future tenancies are promising - particularly given the developers have had to contend with Covid-19 delaying its completion. “Obviously, we’re dealing with some pretty unprecedented challenges in terms of the business environment at the moment.” Jones is confident the last few spaces at Lakewood Cambridge will soon be filled, and says it is likely they will include well known New Zealand names. “There will be some strong operators going into those remaining spaces.” An open day on 25 July to mark the completion of the final building drew hundreds Council was quite passionate from day one when we pitched the mixed use character development. They were supportive of an outcome along those lines that complemented the town centre, as opposed to a bulk industrial building(s). of locals curious about the project that had been taking shape in their town. In the other four Lakewood building there are just two tenancies still available out of 26 tenancies as the development adds to the Cambridge business scene. The Waikato developers, Porter Foster JV Ltd, wanted it to complement the town’s existing offering, staying true to Cambridge’s character while adding much-needed commercial space - with research before it started indicating insufficient overall retail floor space to meet demand. Their success is marked by the fact about 95 percent of businesses basing themselves in Lakewood did not previously have a presence in the town. The project is significantly large in the Cambridge context, and Jones says there were a lot of “moving parts” along the way, as it was developed in stages. “It has been a journey, a project of this size and scale, it just takes time and you work through it. And that’s why we’ve developed the building sequentially, rather than try and build them all in one hit. It’s evolved naturally, we’ve filled buildings up as they’ve been coming online. “The biggest challenge has been the size of the team involved and how many moving parts there are. Good things take time.” Jones is positive about the role of Waipā District Council, which was keen to see a mixed use development on the site after earlier big box developments had failed to materialise. “We’ve found them to be quite hands on, very practical and nimble, which is really refreshing to see. “Council was quite passionate from day one when we pitched the mixed use character development. They were supportive of an outcome along those lines that complemented the town centre, as opposed to a bulk industrial building(s). “From day one we tasked Continued on page 30 “Block E”, centre, completes the development.
LAKEWOOD CAMBRIDGE WAIKATO BUSINESS NEWS August/September 2020 29 We are proud to be appointed for the sale and leasing of the final stage of the Cambridge Lakewood Development BOUNDARIES ARE INDICATIVE ONLY Units available from 80m 2 to 290m 2 Call now for plans and specifications for this unique development Theo de Leeuw 027 490 3248 Brad Chibnall 021 448 989 naiharcourts.co.nz | P 07 850 5252 | 678 Victoria Street, Hamilton Monarch Commercial Limited MREINZ Licensed Agent (REAA 2008) ALTOGETHER Investor or occupier? Bayleys Cambridge has an experienced team of local agents specialising in residential, rural, lifestyle, commercial and industrial properties. Thinking of buying or selling? Call in to see the team at Bayleys Cambridge, Lakewood, Unit 1 Block C, 36 Lake Street. Bayleys Cambridge | 07 823 1540 cambridge@bayleyswaikato.co.nz SUCCESS REALTY LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008 ALTOGETHER BETTER Residential / Commercial / Rural / Property Services Investor or occupier? Investor or occupier? Lakewood, Cambridge Lakewood, Cambridge • Tenanted investments with minimum six-year lease terms from $360,000 to $2,500,000 returning a minimum of 5% to 6% yield • Tenanted investments with minimum six-year • Owner-occupier or vacant investment units lease • Lease terms options from from $360,000 80sqm to - 1,000sqm $2,500,000 (more or returning less) a minimum of 5% to 6% yield • Owner-occupier or vacant investment units With strong tenant covenants and a minimum of • Lease six-year options initial lease from terms 80sqm these - 1,000sqm units offer (more an or less) excellent passive income opportunity, with Body With Corporate strong tenant taking covenants care of the centre and a making minimum of management easier for investors. six-year initial lease terms these units offer an excellent bayleys.co.nz/2310665 passive income opportunity, with Body Corporate taking care of the centre making management easier for investors. Lakewood, Cambridge • Tenanted investments with minimum six-year lease terms from $360,000 to $2,500,000 returning a minimum of 5% to 6% yield Price by Negotiation • Owner-occupier or vacant investment units Willem • Lease Brown options 021 from 161 4066 80sqm - 1,000sqm (more or willem.brown@bayleys.co.nz Price less) by Negotiation Alex Willem Ten Hove Brown 027021 592161 4817 With strong tenant covenants 4066 and a minimum of alex.tenhove@bayleys.co.nz six-year willem.brown@bayleys.co.nz initial lease terms these units offer an Jason excellent Kong 021 713 358 Alex Ten passive Hoveincome 027 592 opportunity, 4817 with Body jason.kong@bayleys.co.nz Corporate taking care of the centre making alex.tenhove@bayleys.co.nz SUCCESS management REALTY LIMITED, easier BAYLEYS, for investors. LICENSED REAA 2008 Jason Kong 021 713 358 bayleys.co.nz/2310665 jason.kong@bayleys.co.nz SUCCESS REALTY LIMITED, BAYLEYS, LICENSED REAA 2008 P W w A a J ja S bayleys.co.nz/2310665
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Waikato Business News August/September 2020

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