An innovation and technology park is the second phase of an 88ha commercial development in Cromwell.
Tony and Christina Quinn acquired the land in 2012 on the outskirts of the Central Otago town.
The first stage was the development of the Highlands Motorsport Park, which opened in March last year.
Mr Quinn says that the innovation park will create a hub for like-minded people working alongside each other designing, developing and testing new technology.
He says the success of Motorsport Park has seen a demand to create a place where people can work on their vehicles.
This development would also tenants looking for a safe environment to test heavy duty machinery, farming equipment or electronics.
Investment in the new technology park has reached $30 million and is expected to increase significantly through the sale and development of the remaining blocks, which includes the Pitlane residential apartments for occupiers wishing to stay on site at the Motorsport Park.
The plots in the technology park range in size from 259sq m to 1215sq m. The land and buildings within the site will be used for motorsport and related activities.
Harcourts sales consultant Peter Bennetts says sales for the sections have been strong.
More than 20 of 42 available sections on the Highlands Motorsport Park site have been sold.
Chris Hutching for NBR NZ Property Investor
Mon, 22 Dec 2014
Mon, 22 Dec 2014
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Motorheads targeted for Cromwell innovation park
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