At first, Veros were engaged to undertake Development Management services at 33 Totara Street, including a feasibility study, funding negotiations and leasing/marketing services. Once the project was determined as viable, Veros were then engaged to project manage the design and construction of the new, modern, three-story commercial building. The site is in a prime location on the corner of Totara and Puriri Streets in Mount Maunganui.
On completion, the property will comprise a modern office space. Occupying a prominent corner site with easy access to the main road into the Mount Maunganui commercial precinct, the site benefits from a strong street profile with views over the Tauranga Port.
Designed by Archistudio, the building will provide high-quality office accommodation comprising a mix of offices, ground floor workshop, and on-site parking facilities.
Veros added significant value throughout the project but specifically in the funding and commercial lease/sale negotiations ensuring beneficial results for the client and the overall development.
Construction commenced just before the Covid-19 lockdown was imposed so there were contractual challenges faced with ensuring a fair and reasonable outcome for all parties. This was managed in a positive, collaborative manner and the works were continued as soon as lockdown was lifted. Once back onsite extra safety measures and physical distancing protocols were put in place, so we were able to get the project back on track for our client within the guidelines of the different levels of lockdown.
In mid-2020 demolition has been completed, and the new build project is underway. Tenant negotiations are positive with two tenants secured and sales leads are promising.
At its completion, 33 Totara Street will be another project successfully delivered for a long-term client, strengthening our relationship, with the promise of many more collaborations in the future.