In early 2023 we handed over the keys to Penske’s brand-new head office building in the Tauriko Business Estate in Tauranga.
Situated on 14,381 m2 of land, the state-of-the-art facility houses eleven 30-metre truck bays, three pre-delivery inspection bays, a transport engineering workshop, a 30-metre drive-through wash bay, a full-length service pit, and two flush-mounted 24-metre tandem full vehicle hoists.
Penke New Zealand underwent an extensive search to secure a long-term bespoke trucking facility in Tauranga. Their selection criteria in a commercial partner for the project emphasised favourable commercial terms, an optimal location, and the capability to meet a tight timeline – an opportunity perfectly suited for the Classic Group team.
Because of Classic’s unique ‘one-stop-shop’ and integrated business structure, more favourable terms were able to be achieved compared to other presented offers. By having ownership of the land and offering experienced development and construction capability with a long-term develop-and-hold approach, the deal incorporated layers of flexibility and transparency not typical to standard developer transactions.
Leveraging on its comprehensive service advantage, Classic Group utilised three of its autonomous businesses to bring the complete project team together:
- Classic Developments: Responsible for land development, lease contract structuring, and project management;
- CBC Construction: Responsible for construction delivery;
- Classic Collectives: Responsible for delivering commercial property management services.
The team’s diverse offering eliminates common barriers and complexities encountered in commercial projects, where developers, builders, and property managers often work in silos, leading to reduced efficiency and an increase in cost.
Classic Developments worked with Architect ‘First Principles’ to design a building that meets Penske’s global standards and optimises the site’s layout for sustainability and efficiency. The project team reviewed and improved the design outcomes to enhance traffic access and movement, reducing vehicle idling times, and limiting potential bottlenecks within and around the building.
One of the sustainable features of the building is daylight harvesting, a lighting strategy that uses natural light from windows or skylights to lower the energy consumption of artificial lighting. This is particularly suitable for large buildings that have a lot of daylight exposure, such as trucking buildings. Daylight harvesting systems use sensors, controllers, and dimmers or switches to adjust the electric lighting based on the daylight level in the space.
Classic Group’s management of the project’s commercial terms and contract structure, from land acquisition through to the long-term tenant agreement and lease income, puts the project in a position to hold a strong return on investment. Penske New Zealand has bold growth plans, and their investment in their people and locations is integral to that.
It’s been an incredible journey bringing this project to life, and we’re immensely proud of the collaboration and dedication that made it all possible. A big shoutout to our partners at Penske for entrusting us with this opportunity.
