Anaro

New Industrial Build - Wellington

Anaro Investments Limited in conjunction with Quay Investments (Wgtn) Limited have embarked on a two year project to design and construct a fit for purpose building for Fletcher Distribution Limited at 110 Hutt Park Road in Seaview, Wellington.  Practical completion occurred on the 9^th of October 2020, with tenants Fletcher Easysteel and Fletcher Reinforcing now in occupation.

The project was a complex operation that was the result of a fire sustained to the existing structure which destroyed large portions of the building on the 28^th of July 2018.  Whilst having to negotiate a difficult insurance claim with three underwriters and a building that did not technically meet the total destruction threshold, Anaro was able to negotiate a cash settlement to enable the full demolition of the existing structure and a redesign build for the site which would be more efficient under the title.  Anaro negotiated a new lease with Fletcher Distribution Limited through agent Tim Julian of Colliers to take the majority of the site on the back portion of the property, leaving an option for a smaller development to occur at the front of the site at a later date.

The construction contract was awarded to Calder Stewart who delivered the project in an professional and expedient manner, despite facing some major milestone hurdles along the way.  Some of the challenges that needed to be worked through included dealing with contaminated and soft soil with pile penetrations required into an aquifer below, damage to a stormwater drain (locality previously unknown) resulting in a late design change and the changeable Wellington weather during the winter period.  On top of this, alert level 4 restrictions for Covid-19 were imposed just as the project commenced and forced a closure to the site and changes to building practices as the alert level restrictions eased.  Despite all these challenges, Calder Stewart were able to compress the programme and deliver the project within the timeframes required.

This was a project with many moving parts, however through close management, the team at Anaro have been able to deliver an excellent result to the Shareholders of this commercial investment property.