Waikato Business News April/May 2023

20 PROPERTY & DEVELOPMENT
WAIKATO BUSINESS NEWS, APRIL/MAY 2023
CBD south-end looking better every day
Union Square’s carpark building is
now open, adding another 300-plus
private car parks to the CBD. And
the third building in this exciting new
development (Building E) is expected to
be ready in August.
Very quickly, the
south-end of Hamilton’s
CBD is changing,
growing and attracting enquiry
from notable businesses –
which is exactly what Fosters
had in mind when they first
floated the idea of the Union
Square development in 2019.
A Fosters joint venture project,
Union Square is Hamilton’s
marque office and retail development,
bringing to Hamilton
a world-class commerce environment.
The precinct uniquely
combines retail, office and lifestyle
space and offers proximity
to multiple public transport
options, childcare providers,
and hotels.
Designed and built with
the specific intent for occupiers
to ‘Experience Better’,
Union Square incorporates
large inviting common
spaces that encourage a sense
of community. This, paired
with exceptional architectural
design, offers an experiential
workplace to help businesses
attract and retain talent.
Within a short walking distance,
tenants can soak up
Hamilton’s already vibrant
south-end, with inspiring
exhibitions at the Waikato
Museum, a tasty selection of
cafes, bars and award-winning
restaurants. The new 1300-seat
Waikato Regional Theatre, set
for completion in 2024, will
add world class music and theatre
to the offering.
Wellness is a key focus at
Union Square with a gym, yoga
and Pilates, and green spaces
on offer within the precinct.
End of trip facilities include
over 30 shower/WC amenities,
within individual buildings
and the new car park building.
These are professionally managed
and supported with lockers,
ironing and hair drying
facilities.
And the Union Square App
– being developed with Company
X - will add efficiency for
tenants. Users will be able to
book a yoga session, order coffee,
book a meeting room in the
business centre or even a share
car to visit a client.
“Fosters are honoured to
play the role we have in reshaping
the south-end of the CBD
with the Union Square and
Theatre projects. Both projects
are prime examples of our continued
commitment to investing
in Hamilton City, with a
view of building a strong future
for the wider Waikato business
community,” Fosters Develop
Director Rhys Harvey says.
Like-minded businesses
– Rabobank, AA Insurance,
Craigs Investment Partners –
have already moved into Union
Square. While the likes of Company
X, BBO, Baker Tilly Staples
Rodway, Harcourts and
James & Wells are due to move
into Building E, referred to as
the Union Square Business
Centre, by the end of the year.
Within the business centre,
there will be state of the art
meeting rooms and conference
facilities which precinct tenants
will be able to book by the hour,
day, or week.
Craigs Investment Adviser
for Hamilton Stuart Anderson
says moving into Union Square
has been a fantastic experience.
“We chose Union Square
as we wanted to give our business
room for future growth.
We also wanted to enhance
our ability to educate our staff
and clients through better technology
and innovative spaces.
Most importantly, we wanted
to provide our team with a
vibrant and safe workspace,
including secure private parking,
which is increasingly hard
to find in the CBD.
“The lift in energy on day
one when our team arrived
was obvious” continues Stuart.
“The workspace has exceeded
expectations on overall aesthetics,
services (including the café
and facilities) as well as feeling
like we’re part of something
new and exciting, that will keep
changing as more of this development
takes shape.
“Combined with the new
Regional Theatre development,
we’re really looking forward
to the south end of the CBD
becoming a great place to work
and grow together as a team.”
More than 150 people
attended the Union Square
rooftop shout at the end of
April. The event combined
a celebration of the new car
park, plus an update on the
CBD from Fosters, Hamilton
Central Business Association,
the Waikato Chamber of
Commerce, and the Waikato
Regional Theatre.
“We really enjoyed hosting
a great range of Hamilton
businesspeople at the rooftop
shout” says Rhys. “It was
a great opportunity for people
to experience some of Union
Square and to hear about the
ongoing development of this
area of town.
“For us the car park is a forward-looking
investment for
both the city and our Union
Square tenants. The rooftop
also happens to offer fantastic
views over the city – perhaps we
can make rooftop CBD updates
a regular thing in the future!”
Mana whenua gifts name to St Peter’s
Cambridge/3Ms joint venture subdivision
Nearly two years ago,
St Peter’s Cambridge
entered into a joint
venture with property developer,
3Ms of Cambridge.
The partnership will see 32
of the school’s 170-hectare farmland
transformed into a residential
subdivision over the next
four years.
In a recent dawn ceremony,
mana whenua - Ngāti Koroki
Kahukura and Ngāti Hauā -
gifted the name Arikirua to the
subdivision.
Mana whenua liaison Karaitiana
Tamatea says Arikirua is
the name of the nearby Paa site
located on the banks of the awa.
“As the awa was historically ‘state
highway one’ for our tuupuna
it was a logical place to have a
paa site, coupled with the suitability
of the nearby fertile land
for growing crops. This name is
significant to mana whenua, and
naming the subdivision Arikirua
reinstates the mana of the
whenua. Both iwi trusts support
the gifting of the name.”
St Peter’s Cambridge School
Trust Board chair John Macaskill-Smith
says the school
is grateful to Ngāti Koroki
Kahukura and Ngāti Hauā for
the gifted name.
“The meaning is incredibly
significant, and we value the
connection it provides to the
whenua and the farming history
of the local area. For us, having
a gifted name for this subdivision
is just the beginning. We
look forward to building a close
relationship with mana whenua
to help us bring the meaning of
Arikirua to life by sharing more
stories about the land and connection
from the past, to the
present and into the future.”
In February 2022, St Peter’s
announced that proceeds from
the sale of the subdivision land
will go into the school’s Endowment
Fund.
The newly established, intergenerational
endowment fund is
designed to ensure the school’s
long-term financial independence
for the benefit of current
and future students.
Accumulated funds will
be used to further develop the
school’s world-class facilities and
educational options, while also
providing scholarships, grants,
and additional student support
into the future.
“We’ve structured the joint
venture with 3Ms to see returns
coming into the endowment
fund over many years. With
careful investment, over coming
decades the endowment fund
should grow into a substantial
and diversified investment
Mana whenua gift subdivision
name to St Peters Cambridge
portfolio, making it one of the
most significant school endowment
funds in New Zealand,”
Macaskill-Smith says.
The first of over 300 sections
in the Arikirua subdivision will
be available for sale in late 2024
to early 2025.
Since works began last year,
3Ms has focused its development
activity on earthworks, stormwater
pipeline installation and
groundwork preparations for
roading and infrastructure.
Owl Farm – the school’s
demonstration dairy farm joint
venture with Lincoln University,
and partners Ballance Agri-Nutrients,
Dairy NZ, Fonterra Farm
Source, PGG Wrightson and
Westpac - remains operational
on the school’s property and will
continue as a working farm for
the foreseeable future.
Your property funding partner.
Providing prompt
loan assessment
& response.
We specialise in finance for:
Contact Us
0800 555 620
www.omegacapital.co.nz