Northpower HamiltonEvolution Drive, Northgate Business Park, Horotiu

Project Details

  • Project Name: Northpower Hamilton
  • Client: TYBI Limited and Northpower Limited
  • Location: Evolution Drive, Northgate Business Park, Horotiu
  • Building Size: Land Area – 1.3ha
    GFA – 3,300 sqm
  • Completed: December 2019
  • Project Budget: $10M
  • Key Tenants: Northpower
  • Project Partners: Contractor: Form Building & Developments
    Architect: Kirk Roberts
  • Services Provided: Property Advisory
    Development Management
    Principals Representative

Project Brief

Identify a location and prepare a design & build proposal for the development of a purpose built premises for Northpower’s Waikato depot.

Overview

Northpower require a purpose built premises that can facilitate both office and depot operations for their Waikato business.

Acting for the landlord/developer, Veros identified the property, undertook due diligence including concept design and feasibility analysis. Veros also negotiated the lease documentation and construction contract setup.

The development agreement was negotiated on the basis that a design & build fixed cost development would be provided by Form Construction for the building requirements and specific tenant required items.

Veros are acting as client representatives during the construction phase, managing the contractor and tenant’s requirements.

Veros have also successfully negotiated funding and the sale of the property on completion.

Outcomes

Veros added significant value throughout the development stages, identifying and managing risks through due diligence, negotiating with the tenant and progressing the project through to pre-construction. Negotiating funding and the sale of the property on completion provided TYBI Limited with certainty of an outcome, significantly reducing risk whilst maximizing return.