17 Aug 2011

Further $100m investment at The Base by Waikato-Tainui

12:22 pm on 17 August 2011

The commercial arm of Waikato-Tainui plans to spend $100 million to extending retail development at The Base, near Hamilton.

The plans include a hotel, more retail, office space and a community services centre which Taunui Group Holdings has gained approval to build.

The community services centre will bring together health services, including medical clinics, a gymnasium and government services - who'll be Tainui tennants.

Tainui Group Holdings chief executive Mike Pohio says the company has so far spent $200 million developing the site and it's a good revenue earner, generating around $20 million per year.

He says plans are still progressing for an inland port for freight, on 500 hectares of land in Ruakura, which Tainui Group Holdings hopes to start building in 2014, when it has gained approvals.

The company and Waikato Tainui Fisheries, made $23.1 million in the year to the end of March, down from $34.1 million a year earlier.