New development opportunities in Washdyke will be unlocked following the transfer of council land to TDHL.

The land, which was purchased in 2007 for $1.1m as part of Timaru District Council’s upgrade of Wastewater treatment facilities in the area, is now surplus to council requirements.

The 13.7Ha of industrial zoned land includes 48 Aorangi Rd, 190 Meadows Rd and 204 Meadows Rd. It has been transferred to TDHL for the same amount paid for it to enable further industrial development in the in-demand area.

Frazer Munro, General Manager of TDHL, said that this transfer would be a valuable addition to assets of the company.

“TDHL has an aim to provide long-term returns for the council and community through the development and leasing of land holdings in the district,” he said.

“This opportunity enables TDHL to actively support the economic growth of the District through investments that create opportunities for new business, new employment opportunities and to grow the districts population.

“The company provides real returns to every ratepayer through the offset in rates that our dividend to council provides every year, and we’re focused on maximising those returns through careful and long-term investments such as these.

“This transaction is complementary to the regions strong and growing primary producing sector and is aligned with TDHL’s existing commercial and industrial property investments.

“By transferring this surplus land to TDHL, the council enables us to put it to immediate work for the long-term benefit of the community by providing shovel ready land for new businesses.”

TDHL will use the land to extend Lyndon Street, which sits within the existing Washdyke Industrial Expansion Zone.

About TDHL

TDHL is a 100% owned subsidiary of the Timaru District Council. Its purpose is to manage and grow an investment portfolio that provides a sustainable intergenerational return and is aligned to the values of the Shareholder. The initial cornerstone assets were the shareholding in PrimePort Timaru Limited and Alpine Energy Limited which TDHL purchased off Timaru District Council.

These remain key investments for TDHL forming intergenerational assets held in the interest of ensuring value add infrastructure is provided to the community. TDHL also owns an industrial and commercial property portfolio which is directly and actively managed.