Latest news with #CalderStewart
Otago Daily Times
29-07-2025
- Business
- Otago Daily Times
Placemakers Dunedin part of solar upgrade programme
A store on a landmark Dunedin site is getting a solar-powered upgrade. Placemakers Dunedin, in Burns St, is among 20 buildings across the country selected for the installation of more than 8000 solar panels in total. It is part of a rooftop solar retrofit programme FortHill Property, an industrial investment fund established by Otago-founded construction company Calder Stewart, will roll out across its entire portfolio. General manager Nick Maier said work on Placemakers Dunedin was expected to take place next year. "The type of system you'd expect at a building of that size would be between 25kW and 50kW. "That could be anywhere from 75 to 150 panels, just depending on the final design and the panels you select." The business estimated the programme would provide a potential generation capacity of more than 4 million kWh per year. It announced yesterday it had launched a $50 million capital raise from its $432m national industrial property fund to expand its portfolio across Otago, Christchurch and Auckland. Placemakers Dunedin was currently FortHill Property's only asset in Otago and they were "very excited" to be coming back into the market again, Mr Maier said. "The interest rate cycle is right, the property cycle, we think, is good timing — we are really keen to attract investment. "Often it's out of the business, off-farm, intergenerational family kind of activity. "We're really proud of our kind of unique connection with Calder Stewart, which was originally founded in Milton, and the ability to grow what is now a national-scale investment fund originally started from those kind of humble beginnings." It typically looked at investments anywhere between $5m and $50m, with a focus on industrial sheds, Mr Maier said. "What we can find, where we can find it — if it meets our criteria, then we get straight into it." While their preference was to target the capital raise towards the funding of new buildings, the extent to which that went towards any of its wider green initiatives was case by case dependent, he said. FortHill had also partnered with ASB and New Zealand tech firm Tether to install AI-powered energy monitoring systems in 13 industrial facilities as part of a year-long pilot designed to identify energy usage patterns and reduce tenants' operating costs by up to 30%.
Techday NZ
28-07-2025
- Business
- Techday NZ
FortHill Fund launches NZD $50m industrial property raise
The FortHill Fund has initiated a capital raise of NZD $50 million to support new industrial property acquisitions across Auckland, Christchurch, and Otago. The fund manages a portfolio valued at NZD $432 million, comprising more than 32 hectares of prime real estate that includes facilities for logistics and manufacturing tenants such as My Food Bag and Dairyworks. Among the assets is the NZD $68 million NZ Safety Blackwoods building at Drury South Crossing, noted as the largest industrial property transaction in the latter half of last year. The fund's tenant list features organisations including NZ Post, Winstone Wallboards, DHL, OfficeMax, Waste Management, and Fletcher Easysteel, all of which operate large-scale logistics or industrial businesses. Market demand New research published by JLL has highlighted a marked growth in investor interest for New Zealand's industrial sector, which accounts for 26% of the country's GDP. Rental values for prime industrial properties are described as escalating significantly, especially in Auckland, where warehouse rates have increased by more than 80% over the past ten years. The report attributes much of this demand to sustained growth in eCommerce and export activities, with these trends supporting increased requirements for warehousing and manufacturing facilities capable of supporting automation. The current expansion plans form part of a broader strategy to capitalise on these sector trends. FortHill is affiliated with Calder Stewart, identified as the largest industrial developer in New Zealand, and benefits from a first-look arrangement on new development opportunities. Sustainability initiative A significant component of the programme is the rollout of what is believed to be one of New Zealand's largest rooftop solar photovoltaic retrofits. Over 8,000 panels are set to be installed across 20 properties in FortHill's portfolio, with a generation capacity exceeding 4 million kWh annually. In addition to solar installations, FortHill has partnered with ASB and local technology company Tether to implement artificial intelligence-driven energy monitoring systems. The pilot programme, which spans 13 industrial properties for one year, aims to monitor real-time energy use with the goal of reducing tenant operating costs by up to 30%. Acquisition strategy Nick Maier, General Manager of FortHill, says the wholesale fund has first look at new industrial developments from Calder Stewart, offering a unique competitive advantage. He says the fund is targeting further acquisitions in both Auckland and Christchurch. "The research shows that with interest rates easing and prime rents increasing, investor capital is flowing back into industrial property. As a result of our direct access to off-market developments from New Zealand's largest industrial builder, CalderStewart, we're uniquely positioned to capitalise on this. These facilities cover over 144,000m2 of lettable area and are in the country's main logistics hubs. Most national operators need one shed in Auckland and one in Christchurch, close to major transport corridors. We're focused on owning the best version of those - sites with strong infrastructure links, modern design, and long-term tenant appeal. Tenants are increasingly investing heavily in automated systems and require buildings that support them. High-stud clearances, strong floor slabs, electrification and efficient layouts are all essential now. We're seeing a shift from simply occupying space to using it as a platform for productivity," he says. Maier further noted that the PIE-compliant fund projects a 6.1% gross yield for the 2026 financial year and has delivered consistent quarterly distributions since its establishment in 2019. The fund currently maintains a weighted average lease term of 8.2 years and reports full occupancy. A cornerstone investor has pre-committed NZD $6.65 million as part of the new capital raise. Follow us on: Share on:
RNZ News
23-06-2025
- Business
- RNZ News
Southland industrial park to be linked with new inland port in Otago
The steel fabrication site already built by Calder Stewart on the land where the Milburn development will be worked on. Photo: Supplied by Calder Stewart The lower South Island economy is to get a logistics and manufacturing boost through the integration of two separate developments. Developer Calder Stewart is planning to coordinate its Awarua Quadrant manufacturing and storage development near Invercargill with an inland port at Milburn near Milton in Otago . The privately funded projects have been costed to eventually cost as much as $5 billion, depending on the mix of tenants and activities. Lower South Island business development manager at Calder Stewart John D'Arcy said the projects would be operated as integrated export and logistics hubs with direct access to two deepwater ports, and close to Manapouri's renewable energy network. Awarua would have wind and solar power installations and function as a high-output industrial hub, while Milburn would handle logistics. "The project aims to create long-term employment, diversify the regional economic base and strengthen Southland's role in New Zealand's national supply chain," D'Arcy said. "While Awarua creates the volume, Milburn provides a staging area and facilitates the movement of hundreds of shipping containers by rail in alignment with vessel schedules." "We can offer tenants real-world export certainty even as shipping windows tighten and ports come under more pressure," he said. The chief executive of Southland's Regional Development Agency Chami Abeysinghe said the proposed development had the potential to become a cornerstone of the region's long-term plan. "Awarua Quadrant could provide much needed capacity for Southland as we diversify our economy and attract high-value industries." "It's also a strong signal to investors that Southland is open for business and committed to enabling innovation-led industries," she said. Calder Stewart's land delivery manager Mark Johnston said early discussions were being held with national and offshore businesses in various sectors, to attract high-value manufacturing to the region. He said the integrated approach to the two developments would ease pressures on port facilities through removing the need to store large numbers of empty containers. The Awarua development would also include a large native restoration project and public wetland and recreation reserve. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Otago Daily Times
06-06-2025
- Business
- Otago Daily Times
Project claims national awards
Receiving two awards for Balclutha's new TPOMA hub at the New Zealand Commercial Project Awards in Auckland recently are project members, from left, Richard Kerr, Ross Pringle, Richard Johnson, Natasha Munro, Amber Buxton and Dale Anderson. PHOTO: SUPPLIED A major South Otago project has been recognised with a brace of national building awards, thanks to "innovation and community spirit". Te Pou O Mata-Au Clutha District War Memorial & Community Centre (TPOMA) took top honours at the 2025 New Zealand Commercial Project Awards in Auckland recently, winning gold and being crowned the national overall winner in the civic category. The awards, which celebrate excellence in commercial construction across New Zealand, recognised the Balclutha hub for its "outstanding design, sustainability, and community impact". Judges praised the project for its thoughtful integration of public needs, architectural innovation and collaborative execution. The $25 million facility was completed in 2023 by Milton-based firm Calder Stewart, making it a whole-community project, Calder Stewart Otago regional manager Richard Johnson said. "This award is not just a win for the project team, it's a win for the entire community. "It shows what's possible when we come together with a shared purpose and a commitment to excellence." Designed as a "vibrant" gathering place for residents of all ages, the hub brought together essential services, flexible event spaces, and sustainable design features under one roof, Mr Johnson said. "Its success is a testament to the vision of the project team, including architects, engineers, contractors, and community stakeholders who worked closely to deliver a space that truly reflects the values and aspirations of the local community. "This recognition places Calder Stewart firmly on the map as a leader in community-focused development and sets a new benchmark for civic projects nationwide." The civic category award celebrates projects that demonstrate "exceptional public value". Judges said TPOMA stood out among a competitive field for its values of long-term adaptability, environmental responsibility, and inclusive design.
Otago Daily Times
21-05-2025
- Business
- Otago Daily Times
Inland port competition fears
Port Otago competing with Calder Stewart to establish an inland port could have a "serious impact" on the Otago Regional Council's financial position, a regional councillor says. Calder Stewart last week proposed what it called a "$3 billion" inland port at its 200ha Milburn site, near Milton. The Clutha-based construction giant's announcement came days before a proposed Port Otago-Dynes Transport inland port at Mosgiel got a major boost from Regional Development Minister Shane Jones in the form of an up to $8.2 million loan from the government's Regional Infrastructure Fund. The back-to-back announcements prompted debate and uncertainty, which was picked up on at a full council meeting yesterday. Port Otago is 100% owned by the regional council and Cr Gary Kelliher raised concerns about what would be a "a very sizable, very substantial investment" if the two projects went head to head. "It could have a very serious impact on our balance sheet if both of these projects go together. "And there are obvious issues appearing with the Mosgiel one already." After the meeting, he said the main issue he was concerned about was transport related "and the heavy traffic" that would be added to the local roading network if or when the Mosgiel port was established. "Also, that the Milton port has kind of appeared out of the blue — but these are possibly both billion-dollar projects and the Port Otago balance sheet will be carrying the development proposed by Port Otago," Cr Kelliher said. "As ORC owns Port Otago I am immediately concerned that there are now two proposals advancing, both saying they are proceeding with knowledge of each other, and really there's only need for one. "I think an inland port is a really good idea, but surely both proposals need to be aligned into one that meets the total needs and allays the concerns of Mosgiel residents about increased heavy traffic." At the meeting, Cr Michael Laws said Otago was but "one region with limited resources" and asked whether the two proposed facilities would be in competition. "Is Shane Jones right when he says it's frustrating that there wasn't some coalescing of minds in the region before what seems to be two competitive proposals are placed against each other?" Cr Kate Wilson, who is chairwoman of the Otago regional transport committee, said she wanted to assure people "that regional planning is going well in Otago and Southland". "And the idea that inland ports aren't planned for is incorrect. "The place to find that stuff is in the regional transport plan. "And while companies can compete, well and truly outlined in there is an option that businesses will in the end, or the market, will fix the solutions." Council chairwoman Cr Gretchen Robertson said the council was regularly briefed by Port Otago on its programme of works and another briefing was due "reasonably soon". There was also a process through the port company's issuing of a statement of corporate intent where councillors could tell the company how they expected it to operate, she said. "There's always competition in any business — that's healthy — and it's not our place to dictate that, I don't think," Cr Robertson said.
