Unlocking Rotorua's industrial potential
Published: 15 June, 2023
The Government is supporting the development of 13 hectares of Māori freehold land into an industrial park in Rotorua, Bay of Plenty with a $6 million loan from the Regional Strategic Partnership Fund.
The $20.3 million Peka Trust development will initially transform 13 hectares into an industrial park with 16 lots, with further plans to develop a total of 40 hectares over the next 5 years, helping to fulfil a regional shortage of industrial lots near Rotorua and stimulate the local economy.
The project has been 40 years in the making and will have many positive flow on effects for the Bay of Plenty region, including generating jobs through construction, driving local businesses, while also helping to attract industrial businesses to relocate to the region.
Diversifying the Māori economy has been identified as a Regional Strategic Partnership Fund priority for the Bay of Plenty region and this investment will enable Peka Trust to diversify its asset base and transition from its nearly completed forestry operation into a long-term lease operation at the industrial zoned site.
The 16 industrial lots are planned to be available from mid-2024 onwards and three anchor tenants have been identified.
The Peka Trust development aligns with the Rotorua Lakes Council’s 2021 to 2031 Long Term Plan which has initiatives for partnering with iwi and landowners to establish 25 hectares of new industrial business parks and unlocking residential land within the city.
The Rotorua Lakes Council has committed to extending its water and wastewater network to unlock this zoned land.
About Peka Trust
Peka Trust is an Ahu Whenua Trust that represents over 2,300 beneficiaries and was formed in 1982 when 633 hectares of land (known as the Peka Block) was returned to Peka Trust from the Crown.