Waikato Business News | June, 2024

Our precious…

Chris Gardner presents the latest chapter in the story of our own Hobbiton.

Overseas visitors to Hobbiton Movie Set Tours are expected to contribute a precious $2.6 billion to the New Zealand economy this season, up from last season’s $2.42 billion.

Hobbiton is expecting to open its round doors to 570,000 visitors this season, about 7.5 per cent more than last season’s 530,000, chief executive Russell Alexander says.

About 85 per cent of Hobbiton’s visitors travel from overseas to immerse themselves in the world of Middle-earth - The fantasy created by J.R.R. Tolkien for The Hobbit and The Lord of The Rings and captured on film in two blockbusting trilogies directed by Kiwi Sir Peter Jackson.

Of this season’s projected visitors, 484,500 are expected to come from overseas.

Ministry of Business, Innovation and Employment International Visitor Survey figures show the average spend per Middle-earth tourist is $5,377 compared to the average $3,855 spent.

Last month Warner Brothers announced two new movies based on Tolkien’s books were in production, the first, The Hunt for Gollum, is expected to be released in 2026.

“It’s fantastic to see the news that another two movies in The Lord of the Rings series are going to be made,” said Tourism New Zealand chief executive René de Monchy. He said the March visitor survey showed 14 per cent of those who came here on holiday visited because of The Lord of the Rings or The Hobbit.

“After 20 years, 14 per cent is a pretty big number.”

Hamilton & Waikato Tourism

chief executive Nicola Greenwell said Hobbiton had been a bucketlist experience for overseas travellers for nearly 20 years and was one of the most visited attractions in the

Russell Alexander employs a team of 275 who welcome visitors on tours, enjoy Hobbit themed second breakfasts, run in Halfling Marathons across the set and the Alexander family farm, and explore the insides of two Hobbit holes belonging to the Proudfoot and Twofoot families on Bagshot Row.

The Hobbit holes opened in December.

“It was the missing element,” said Alexander.

The culmination of two years of planning, nine months of excavation, set decoration and an untold investment.

Tours began of the stripped set in 2002 after The Lord of the Rings had finished filming. The set was rebuilt with permanent materials in 2010 for The Hobbit trilogy. Since then, Alexander and his team have been adding value every year.

And then the COVID-19 pandemic scoured the world and Hobbiton was not immune.

“In one meeting we had to lay off 241 staff, and overnight we went to 26,” Alexander said.

Hobbiton was open and shut as New Zealand moved through different alert levels and the traffic light system was introduced.

“It was harsh. We came close to not coming through the other side.”

But just like the heroes it spawned in J.R.R. Tolkien’s books, Hobbiton overcame.

The re-building of Bagshot Row signalled a post Covid recovery for the attraction, and the wider region. Hobbiton has expanded tours by 20 minutes to allow visitors to linger in the Hobbit homes, reducing throughput by 120,000.

“It is an unexpected journey. It’s coming down to being the best we can be. There’s a lot of opportunity for some pretty cool events here.”

Hobbiton is staffed by a team from Cambridge, Hamilton, Matamata, Morrinsville, Tauranga, Te Aroha and Tokoroa.

Waitomo Adventures chief

executive Nick Andreef was there on Bagshot Row on opening day and described the fully furnished Hobbit holes as “very impressive”.

“Hobbiton is a beacon of light,” Andreef said. “Hobbiton Movie Set is an incredibly powerful driver of visitors to the Waikato region and many people would be unaware of just how important it is.”

As Hobbiton’s closest town, Matamata continues to prosper on the back of The Lord of the Rings. Tourism, with a tourist bus leaving daily from the Middle-earth themed i-Site.

“Most people are going to Hobbiton,” said Chamber of Commerce Board member Lynette

Stanley. Matamata i-Site consultant Kathy Lethbridge continues to have daily enquiries about movie set tours. “It’s still just as popular,” she said. Matamata Broadway’s Williams Jewellery’s Joy Williams said Middle-earth jewellery sales were not at 2002-2007 levels, but the stores had reduced its lines because many tourists just wanted to take photos with them.

Redoubt Bar and Eatery manager Kayla Hughes said business had returned to pre-pandemic levels with patrons popping in after visiting the set. “It’s really good, we are back to normal.”

• More stories, See Page 14.

In a hole in the ground there lived a Hobbit…

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Bowlers take cover

Mergers, whether it’s a business or a sports club, are never easy but the Frankton Junction and Frankton Railway Bowling Clubs’ hit new heights.

Now under the umbrella of the Hamilton Workingmen’s Club, the new look Frankton Junction Bowling Club also has a PVC canopy roof over half of its outdoor bowling rinks.

The Dome, as it is known as, reaches as high as six metres, over more than 1100 square metres covering eight bowling rinks. It covers a newly carpeted green which was part of the $1.5 million merger development. It was not all plain sailing once the merger between the clubs was completed.

In late 2022, prior to the development getting underway, Hamilton City Council asked for $236,000 in development contributions before the canopy was even started.

Development contributions are usually paid by property developers to help cover costs for any infrastructure that supports developments.

Roll the kitty forward and after plenty of reports from both sides the council dropped their fees drastically to $18,600.

“Building the roof has been far from easy,” says Frankton Junction Bowling Club President Brian (Oz) Osmond.

“There were the problems with the council, prior to the build, then when Cyclone Gabrielle came through things changed and council requirements changed regarding storm water requirements, which required us to install massive water retention tanks underground, which escalated the costs further.

He quips “that’s water under the bridge”.

Local Iwi carried out a dawn blessing of the venue before the revamped facility was opened in March by Hamilton mayor Paula Southgate, with Workingmen’s Club

Economic voice silenced

By Chris Gardner

The outgoing chief executive of Waikato economic development agency Te Waka has deflected questions on its achievements.

Fiona Carrick, who was appointed less than two years ago from Fonterra, stood by a statement released by the Te Waka board last month which said it would close down on June 30 after six years due to a lack of collective regional commitment and inadequate resources.

Independent chair Hamish Bell said the agency no longer had the collective mandate or resource to continue in an impactful way after the region’s 11 mayors had rejected plans to scale up its activity.

“In terms of the collective voice we’ve represented for the region and the value we’ve delivered; I would refer you to this statement for that. I’m happy to directly engage you with the chair if you’ve got specific queries,” said Cambridge-based Carrick.

Bell was unavailable for an interview.

Te Waka had summarised its achievements in its submission to Waikato Regional Council, he said.

“Over the last six years we have met all of the KPIs and accountability measures set by the councils that fund us, and we have delivered a wide range of activity for the region, which we are proud of.

“The focus for the next six weeks is on concluding the activity in our current workplan. Some programmes of work could be ongoing, and we would welcome

discussions with councils about how these could continue.”

Te Waka received funding from Waikato Regional, Hamilton City, Hauraki, MatamataPiako, Ōtorohanga, South Waikato, Taupō, Thames Coromandel, Waikato, Waipā and Waitomo.

Te Waka’s swansong was the Waikato Regional Business Sentiment Survey in April. It surveyed the region about the economic challenges.

Results reflected a more positive outlook than might have been expected, Te Waka said.

“While overall confidence levels are down, our region‘s businesses are maintaining a level of pragmatic optimism, with 43% stating confidence in their own business performance and 48% expecting the Waikato regional economy to improve over the next 12 months,” the executive summary said.

“The biggest surprise would be the drop in confidence in Māori businesses,” Carrick added.

Te Waka general manager of economic development Rosie Spragg said it was a significant drop.

“We think in part it will reflect the nature of the industries that are made-up in the Māori economy. There was a high level of construction businesses in particular, as well as primary sector businesses that we know have been particularly hard hit over the past 12 months. There may also be other factors at play - obviously the political environment around Māori economy.

Pat Weekes, another Frankton

past president threw down the first jack. The club is the first in the country to have a dome style roof style.

Brian Osmond says the facilities, including the bar and kitchen which make up The Pavilion, are in demand.

“The centre already has bookings for conferences, along with two other businesses booking out both centres for “team building” days, as we co-manage the facility alongside the Hamilton Workingmen’s Club and that works brilliantly.

“We have this going on, along with our usual bowl days and evenings so the place is humming.”

Getting Bowls New Zealand to bring a national tournament to the club is the next hope.

president Brian Simpson, former Frankton Railway Bowling Club president Doug O’Brien and Bowls New Zealand chief Mark Cameron present.

Junction

They’ve got it covered – Hamilton Workingmen’s Club manager Ken Marcum, city mayor Paula Southgate, bowls club president Brian Osmond and Bowls New Zealand chief Mark Cameron.

Company merger

Hamilton-based TMG Cloudland has merged with Primary IT (Wellington), making it the largest provider of IT services to primary healthcare in New Zealand. Primary IT chief Matthew Leahy said joining TMG Cloudland “allows us to offer our clients a broader range of services and advanced technologies”.

Grant chance

Applications for Callaghan Innovation’s R&D Experience Grant open on 4 June. The grant funds work experience for tertiary students.

Hospice changes

Hospice Waikato chief executive Craig Tamblyn and board chair Margaret Devlin have left the community palliative care charitable trust. Former Hamilton Boys’ High School headmaster Susan Hassall is acting chief executive while Hamilton eye surgeon Stephen Ng is acting chair.

Gascoigne moves

Paul Gascoigne has joined the ranks of Harkness Henry. Gascoigne has more than 20 years of experience in commercial matters, property, farming and rural law, relationship property and estate planning.

Choir returns

The Christs College Chapel Choir from Cambridge, England, will sing in Hamilton’s Waikato Anglican Cathedral and St Andrew’s Anglican Church in Cambridge next month. Christ’s College is one of the constituent colleges of the University of Cambridge and has had a chapel choir since its foundation in 1505.

Rotary visit

Rotary International president Gordon McInally of Scotland will visit Waikato this week and Rotarians will have the opportunity to mix and mingle with him on Thursday (June 6) at Novotel Tainui in Hamilton.

Superhub gets Luxon tick

Prime Minister Chris Luxon paid a whistle stop visit to Hamilton’s inland port and spoke to Waikato Business News writer Chris Gardner about the port, progress on the Medical School, science, technology and the rural sector.

Tainui Group Holding’s Ruakura Superhub in Hamilton has been described by Prime Minister Christopher Luxon as “a great example of what we want to see a lot more of in this country”.

The commercial arm of the tribe is building New Zealand’s largest integrated commercial hub: a 30ha inland port operated in a joint venture with Port of Tauranga Ltd, surrounded by a 263ha industrial and logistics park.

“What we need to do is build modern, reliable infrastructure that has economic, social and environmental benefits,” the Prime Minister told the Waikato Business News after a visit to the Superhub last month.

“It’s critical for us to upgrade our economic productivity and when we do that, we get a higher quality of living for everybody.”

He described the facility as a fantastic facility that connected the golden triangle of Auckland,

Hamilton, and Tauranga.

“There’s work that we need to do around infrastructure. A big part of it is making sure that we have a good clear 30-year pipeline of projects rather than just ideas.

“We want to have a 10-year focus around city and regional deals and we also want to build out a national infrastructure agency that actually can get the right funding and financing in place to do more infrastructure.

Waikato’s tech sector is worth more than $1.15 billion, with the Cultivate Trust in the midst of a Tech in the Tron campaign to attract 500 workers and their families to the region. So, what’s the Government doing to help the sector?

“We’ve got to embrace science, technology, innovation, a lot more,” Luxon said.

“We have to make sure we better educate our kids, get rid of red tape, and obviously have stronger international connections. So those

are the five things that will create more economic productivity and more prosperity for New Zealand.

“When you look at the tech ecosystem in Hamilton, it’s incredibly diverse and it’s something that’s incredibly exciting when you think about the quality of life, the affordability, location, lifestyle. You know, Hamilton is a pretty attractive place to live. We are very, very interested in making sure we can accelerate tech and innovation.”

It was important, he said, for businesses to invest in research and development to compete on a world stage.

What about the rural sector?

The Government was doing everything it could to encourage businesses, including the rural sector, he said.

“The previous administration went to war with farmers. It loaded up a huge amount of regulations and as a result, farmers ended up spending 25 per cent to 30 per cent of their week

doing paperwork rather than farming. We’re working our way through getting rid of the red and green tape that’s getting in the way of farming.”

The Ministry of Health signed a Memorandum of Understanding with the University of Waikato in February 2024 to develop a third New Zealand medical school in the Waikato They are working on a business case with a view to the first intake of 120 students starting in early 2027.

Asked whether there was anything the Government could to speed the process up, Luxon said the business case and feasibility study was well underway.

“We need to look at the cost benefit analysis and make sure that we’ve got a very good robust financial case for progressing further. So that’s really the focus of the Government right now. Once we’re in agreement that a cost benefit analysis has been delivered and it makes sense then we can progress on the medical school.”

Prime Minister Christopher Luxon inspects a model of Tainui Group Holdings’ Ruakura Superhub while chief executive Chris Joblin looks on.

Photo: Erica Sinclair.

See you at Sawubona

What started out as a desire to help end the cycle of poverty has translated into a full-time business, writes Viv Posselt, one that Esther Gathambo wants to grow.

Sawubona, a Hamilton-based social enterprise marketing traditional African homewares, is something of a ‘watch this space’ success story for the family charity that supported it.

When Kenyan-born Esther Gathambo first considered how she could help impoverished African communities by selling their handmade crafts here, she knew there would be challenges.

Soon after moving to New Zealand in 2018, she joined a settlement centre programme aimed at helping migrants and refugees, and while that did progress things to a degree, she sought more support.

That came via the New Zealand charity All Good Ventures, run by Hamiltonbased business couple Heather and Rod Claycomb. As well as operating two successful and established businesses of their own, the couple launched the charity in 2018 aimed at supporting social entrepreneurs to start businesses where profits are directed to those in need.

Through a targeted one-year programme, Good Ventures supports social entrepreneurs by plugging crucial gaps around funding and business knowledge and offering 12 months of mentoring.

Esther Gathambo and her enterprise Sawubona, said Heather Claycomb, are an ideal example of what Good Ventures is all about.

“Esther has the passion that we look for in the businesses we support,” she

said, adding that while that might be the driver for many social entrepreneurs, passion alone won’t make a business work.

“You need it to help people, of course, but you must be able to build business skills, make applications, handle human resources and so on for a business to survive. Those are two different skill sets. We only work with people for a year … our goal is to set them on a path with the skills they need to continue.”

Esther’s grit and determination shone through from an early age. She grew up in rural Kenya in a resilient, single-parent family, going to different schools, developing a love for literacy and becoming the first in her family to go to university.

“I watched my mother and grandmother run small businesses, but when I finished with my BA, I wasn’t sure what I would do. I was between jobs when I met my New Zealand partner and when an employment opportunity came up for me in Christchurch, I took it. My partner lives in Hamilton, so I moved up here.”

All the while, thoughts had been percolating around opening a business that would empower African-based artisans and their families. She realised what a privilege it was to have a job when so many millions did not and grew increasingly determined to create opportunities for them.

Sawubona – a Zulu word of welcome meaning ‘I see you’ – cut its teeth at local

markets and now has space in Hamilton East’s Made market precinct. She sells handcrafted products fashioned by more than 75 artisans across various African countries, including Kenya, Rwanda and South Africa.

What started out as a desire to help end the cycle of poverty has translated into a full-time business that Esther wants to grow. There are still plenty of challenges, but she is determined to get to the point where she can return a more sizeable chunk of the profits to the artisans rather than have to spend it on business costs.

“It is also difficult to meet the weight of expectation that many people in Africa have,” she said. “They have perceptions of privilege. They think everyone living in first world countries is wealthy, and don’t always understand how things work. That can be challenging.

“But they have wonderful skills, and I want to showcase those at the same time as helping communities escape poverty if I can.”

Esther’s Sawubona represents one of few New Zealand businesses that approach Good Ventures during its annual applications round.

Heather said many of the 80 plus applications this year are from countries such as Nepal, Cambodia, Canada, South America and the like.

“We don’t get a lot of applications from New Zealand, and we don’t really know why that is,” she said. “We would like to see that change.”

Two Golden Rules of Investing

Chantal Baxter and Stuart Anderson are Investment Advisers with Craigs Investment Partners. They share two golden investment rules and their view on the role of a good financial adviser.

Change is the only constant in life. As a result of changes in your personal situation and challenges faced, the needs and reliance on your money will evolve over time. Life doesn’t move in a straight line, so it pays to have sound financial objectives and a good financial adviser to help you move towards your end goal. When investing we believe there are two important rules to always keep in mind. Following these should set you up well to succeed.

1. Any good adviser will advise you to diversify.

A fundamental rule of investing is not putting all your eggs in one basket. It’s the simplest yet most effective way to insulate against risk and help investors weather any storms. This means looking at all your investment assets and your exposure to risk in each of them. Diversification could mean looking at a combination of cash, bonds, equities as well as listed and unlisted funds, to get the right blend of assets for each investor’s portfolio, says Craigs Investment Adviser Chantal Baxter.

“It’s an individual decision and one that we work closely with our clients

to determine the right balance. New Zealanders are traditionally very exposed to the property market and as recent times have shown, any asset can experience fluctuations in value. It’s crucial to spread your risk and cover your bases, rather than being too concentrated in one particular asset”, says Chantal.

2. Have a good investment strategy and stick to it.

As Craigs Investment Adviser Stuart Anderson explains, this second rule might sound simple, but it can be much harder to follow in practice.

“Setting a strategy involves more than choosing a diversified portfolio of investments. It’s a plan of action tailored to the individual for the good times and hard times. It’s a consistent and disciplined approach which manages risk, focuses on the determined time horizon, ensures that investments are suitably diversified, and adapts to market changes over time.”

“It’s a fairly common misconception, but the role of a good adviser is not to try and predict the path of financial markets. It’s about constructing your portfolio in a way that grows your wealth based on your goals, needs and risk appetite and is sturdy enough to withstand changing market conditions.

“As investment advisers we often act as gatekeepers to protect against

irrational ideas or trades resulting from short-term market fluctuations to help you stay on course and keep your investment portfolio aligned with your plan, regardless of what is going on around you. Some see us as their money coach, an educator or a business partner.”

Craigs Investment Partners is one of New Zealand’s largest investment advisory firms, with over 180 qualified Investment Advisers across 19 branches in New Zealand.

Chantal Baxter and Stuart Anderson are Investment Advisers at Craigs Investment Partners Hamilton branch. Contact Chantal and Stuart for all your investment needs to help navigate current market conditions.

Baxter  07 959 1842 chantal.baxter@craigsip.com

Anderson  07 959 7111 stuart.anderson@craigsip.com

Esther Gathambo, who runs her business Sawubona out of the Made precinct in Hamilton East, is fuelled by a desire to help African-based artisans improve their lives. Photo by Viv Posselt

Craigs Investment Advisers Chantal Baxter and Stuart Anderson

What’s happening with Australian immigration and

what

this means for New Zealand…

Net overseas migration in Australia for the year to June 2024 is forecast to be 375,000 and just under 1.5% of Australia’s 26 million population. By comparison, New Zealand’s net migration for the year to March 2024 was 111,000 and represents around 2.2% of our 5 million population. On this basis, New Zealand’s migration gain was significantly above that in Australia, but it is Australia which has now introduced much more restrictive immigration policy settings for the coming year and with the aim to reduce net migration down to 260,000.

The main area of change in Australia is in the international student sector. A record high 700,000 international students are now studying in Australia. With international students currently making up 42% of all temporary visa holders entering Australia the Government has instigated moves to “deter” international students, stating that this is due to the high financial burden many students face, and the limited work opportunities. The changes are probably also a consequence of the many other problems that have been experienced, with many students not being genuine about, and/or following through, on their original study intentions as well as many students studying courses with dubious academic outcomes. This tougher stance has seen some 50,000 student visa applications already rejected in the 4 months to February 2024.

Changes include a new genuine student test, higher English requirements, reducing the age for graduate students (from 50y to 35y), limiting the maximum duration of some studies and, significantly, capping the number of students. The high cost and availability of student accommodation is also a contributing factor, but universities who can build new student accommodation may avoid any cap of their student numbers.

While New Zealand education institutions will benefit from this

Australian “clamp down” we would caution care. New Zealand has been adversely impacted by a number of international student “challenges” in the past, and if we are now to be more favourably considered then we need to be proactive in setting clear policies to attract and manage the students New Zealand most wants. Above all, we must avoid the proliferation of institutions and courses being set up specifically to target the international student dollar. Achieving a premium for a quality education experience, which can be suitably managed, marketed and sustained, is preferred over the “numbers game” that the sector has played in the past. Having a maximum ratio of international students to NZ students could be an interesting start? “Reviving” international education was part of the Government’s election plans so it will be interesting to see how it applies any learnings from the Australian situation.

Australia is introducing visa programmes to “curry favour” with key trading partners such as the 3,000 visa places for Indian graduates (and some professionals) and extending the maximum validity of business visas for Indian nationals to 5 years. What will NZ do?

Australia is also scrapping its Business Innovation and Investment visa programme, after having previously scraped its Significant Investor Visa earlier this year. While this would normally lead to more migrant investors considering New Zealand, the reality is that our Active Investor Plus category is complex, high risk, and is simply not practical or marketable, and the uptake since its’ introduction in late 2022 has been “underwhelming”, to say the least.

The Australian immigration changes will create a range of opportunities for New Zealand, and particularly within the international education sector. It will be interesting to see how the Australian changes impact on the New Zealand immigration policy settings.

Rototuna loses community asset

By Chris Gardner

Rototuna shoppers lost a bank, book shop and post office all in one fell swoop when the shopping centre’s Paper Plus closed its doors on last month with the loss of five jobs.

Owner Murali Jasti ran the shop and its Kiwibank, Lotto and NZ Post operation for almost 10 years at Rototuna Shopping Centre. He spoke to Waikato Business News reluctantly in its last days before it closed on May 17.

“I am not sure that I can say anything,” he said.

“Our lease finished. It’s up to the landlord and what he wants to do. I don’t want to give any details. Let it go. It’s time. We are taking a break.”

Jasti had no plans to establish a new business.

“It’s a bit of a shame for the shopping centre that they could not come to an agreement with the landlord,” said New World Rototuna owner Suresh Chimanlal.

New World is a cornerstone tenant at Rototuna Shopping Centre.

“I don’t know where people are going to do their post. We feel sorry for the owners who have done 10 years there and now they are walking away with nothing.”

“I am sad,” said customer Jade Hersom.

She regularly bought magazines and stationery there.

She described the store as a community asset and the business’s owners as lovely people. “A lot of people use its Post Office boxes. Elderly people go there once a month to buy a good book.”

Rototuna resident and Paper Plus customer Michele Buksch was shocked to hear of the closure.

“They are always very friendly.”

Posting on the Facebook Rototuna Community Group Facebook page Sandy Liddicoat said: “Essential services are going to be lost. The shop is going to be sadly missed by many in the community especially the elderly.”

A NZ Post statement provided by External Communications senior advisor Sarah Jarvis said the closure was unfortunate and “at this stage no replacement agency has been found”.

“We would be happy to have a discussion with any other local business owner in the vicinity who may be interested in hosting our postal services.”

The closest postal services are Chartwell, Parkwood, and Garnett Avenue Post Centre. The closest bill payment agency is Hamilton Post Shop.

Kiwibank said, in a statement provided by External Communications manager Louise Vallant, it was unique by working with local agents to provide banking services across the country.

“We have the largest physical network of banking services in Aotearoa, comprising our branches and Local for Kiwibank agents,” the statement said.

“The owner of the Rototuna Paper Plus, which provides banking services on behalf of Kiwibank, has made the decision to permanently close. Kiwibank has contacted customers who are frequent users of the Rototuna Paper Plus to inform them of the change in services.

“Kiwibank is not considering replacing this Local for Kiwibank agent as we have other locations and in the wider Hamilton area.”

The nearest Kiwibank branch is The Base. The nearest Local for Kiwibanks are Hillcrest Postshop and Glenview Centre NZ Post.

“The closure of NZ Post is the hardest thing, I use it from time to time,” she said. “There’s less bookshops now too, less competition, that affects the customer.”

“Are they closing? That sucks. I always do my post here,” said customer Melanie Muller.

Landlord Keith Houston told Waikato Business News: “I do not wish to get into the reasons of the closure. But it is being re-tenanted by one of our other tenants and their shop will come up for lease.”

Innovation finalists named

The finalists for the 2024 Fieldays Innovation Awards have been announced across four categories.

Twenty of the 63 participants made it to the final stage of judging, and a step closer to a share of a prize package of cash, services and products worth more than $70,000 to help launch or accelerate their new product. Fieldays runs at Mystery Creek from June 12 to 15.

Showcased at the Fieldays 2024 Innovation Hub, the Awards are promoted as a launch platform for primary innovation in New Zealand.

All participants will be on show during Fieldays.

The finalists are: Young Innovator, Iona College,

Havelock North – Wool Be Studying, St Paul’s Collegiate, Hamilton - Clean Milk Catcher and Kiwi Beam Solutions, St Peter’s Cambridge – Ag Recruit and Mark-It. Prototype, CM Safety Ltd Te Puke“Hood” Head On Object Deflector, Daisy Lab, Auckland, Fleecegrow, Auckland, Kiwi-Econet, Riverton and theExperiment Company Ltd Taupō - Diffuzone Imaging. Early-Stage, Envico, Tauranga, KiwiFibre, Christchurch, NZ Auto Traps, Whakatane, Vertex Engineers – Uvex, Hamilton and Water Siphon, Auckland. Growth & Scale, Fleetpin Limited, Christchurch – Safetrax, Halter, Auckland, MSD Animal Health Hamilton – Sensehub Dairy, Robotics Plus, Tauranga and WoolAid, Auckland

Paper Plus Rototuna closed in mid-May, depriving shoppers from essential banking and postal services.

Tokoroa at next level

It’s dubbed Level 1 and is Tokoroa’s new co-working space designed to support emerging local businesses and established companies,

The new workspace, in the town’s Pukenga Rau building on Chambers St is owned and operated by Swift – the South Waikato Investment Fund Trust.

Chief Executive Amanda Hema says the intention is that Level 1 will be more than serviced office space.

“We want Pūkenga Rau Level 1 to build the local business community by encouraging social and professional engagement that will continue to raise the capability and capacity of businesses operating in South Waikato,” she said.

The anchor tenant is early learning

provider Central Kids, which won the For Purpose and People’s Choice awards at the Waikato Chamber of Commerce Business Awards last November 2023. Swift picked up the Community Contribution award at the same event.

Central Kids is a South Waikato business operating 52 early learning services around the central North Island.

The launch of Pūkenga Rau Level 1 follows on the heels of the Waikato Chamber of Commerce launching in South Waikato.

Hema said Swift and the chamber were complementary with one focusing on local capability development and the other able to provide regional, national and international connections.

Marae as infrastructure

By PHIL MACKAY

The Reserve Bank has announced the introduction of Debt-to-Income (DTI) restrictions on new lending for residential housing. This is another tool that the Reserve bank has been considering for some time, to sit alongside the existing Loan-toValue (LVR) restrictions.

The new rules will mean that from July 1, only 20 of new lending to owner-occupiers can be at a DTI ratio above 6, and 20 of new lending to investors can be at a DTI ratio above 7. So a household with the current average household income of $126,411 would be able to borrow up to $758,466.

The introduction of these new rules gives the Reserve Bank another tool to maintain the stability of the financial system in NZ. One criticism of the LVR restrictions already in place was that they made lending particularly challenging for first home buyers. Alongside the introduction of the new DTI restrictions, the Reserve Bank has also announced the easing of the LVR rules, which could be good news for younger buyers trying to get a foothold in the market.

Currently up to 15% of banks’ new lending can be to borrowers with less than 20% deposit, from July 1st this can be up to 20% of new lending. Investors also see an easing of LVR restrictions, with a 35% deposit required, down from 40% currently.

The Reserve Bank has said “Having both DTI and LVR restrictions in place at the same time means we can better focus them on the risks that they are designed for while achieving the same or better overall level of resilience in the financial system.”

In general terms it seems likely that the new restrictions will reduce investor interest in the housing market, as their ability to leverage existing properties to purchase additional houses will be reduced. Given the current weakness in the market and in particular investor interest, due to high interest rates, it’s unlikely that this will have a strong impact immediately. The Reserve Bank will have considered this factor in the timing of the announcement, but will be expecting the restrictions to act as a ‘speed limit’ on the housing market as interest rates come down.

It is worth noting that the DTI restrictions won’t apply to new builds, the intention being not to unnecessarily constrain new housing supply. This means there is still opportunity for investors to borrow above the DTI limits for new developments and new housing.

Likewise, banks can still make up to 20% of their new lending to owner-occupiers, and 20% of new lending to investors, at higher ratios. Investors with good relationships with their bank may still be able to access finance at higher multiples of their income, and banks have some scope to make exceptions for a limited number of owner-occupiers.

It remains to be seen how this will ultimately play out as interest rates drop and the housing market recovers, particularly given that the government has reinstated interest deductibility for investors.

• Phil Mackay is Business Development Manager for Paua Architects

Amanda Hema (left) pictured with Christine Hall, the chief executive of anchor tenant Central Kids.

Thinking of selling? What to consider in the current market

The property market, whether it be residential, rural or commercial, is and always will operate within a cycle. Often the decision of when to sell is driven by other factors that relate to personal circumstance or choice, not necessarily where we may be in a cycle.

Within any market, there are always opportunities for both sellers and buyers. Everybody has different reasons for selling and in New Zealand there are several methods of selling property, which sellers need to consider - this can relate to the situation or specifics of the particular property or the ownership structure.

When you are considering selling a property, it is important to understand the process and the various sale methods, whether it will be marketed widely or not, with or without a price and if there is a fixed timeframe to act or not.

Auctions:

• No fixed price

• Creates urgency through a fixed timeframe

• Creates open transparent competition between buyers

Bidders are purchasing on an unconditional basis

Tenders:

• No fixed price

• Creates urgency through a fixed time frame

• Creates an element of competition

• Purchasers will potentially be conditional i.e. due diligence or finance

Deadline Private Treaty

No fixed price

• Creates urgency through a fixed time frame, but can be sold prior to the deadline date if marketed as such, “unless sold prior”

Creates an element of competition

• Purchasers are likely to be conditional, although the incentive of being unconditional early, can motivate some potential purchasers in order to avoid last minute competition

(Tenders or Deadline Private Treaty sale methods should be considered for more complex properties or where there are ownership structures that have signoff or approval processes to go through).

Private Treaty

• Usually with a fixed or ‘asking’ price

• No time pressure or urgency for purchasers to act

• Will likely either be sold quickly (could it have been worth more?) or remain on the market for an extended period of time (maybe the asking price was unrealistic?)

Conditional and unconditional offers can be made

Tips:

1. In a challenging market such as we have now, it is more important than ever to have a robust marketing programme in place, to leave no stone unturned in order to find the best buyer(s), not just any buyer.

2. In relation to your particular property, check the track record and specialist market knowledge of the agents who you are selecting from. Interview more than one agent for the job.

3. Consider discussing an incentivised fee structure with the agent. With an incentivised commission structure, sellers and agents are both rewarded accordingly - the more effectively the agent works and the higher price, both parties gain the added financial benefit. The cheapest agent isn’t necessarily the one with the lowest commission, it’s the one who puts the most money in your bank account.

What is working well in the current market?

• Cash is king again, as finance is more expensive and increasingly more difficult to secure. Auctions provide an opportunity to pit unconditional buyer against unconditional buyer. Two weeks ago, we had a 100% clearance rate, selling two industrial properties, with multiple bidders on both and in excess of 50 bids.

Consider putting a price on the property, to allow purchasers a guide. Where properties are realistically priced, we are definitely seeing enquiry.

• Don’t be afraid to increase the marketing budget – you can’t sell a secret, particularly in today’s market.

Remember you only have one opportunity to put the property on the market for the first time – and the longer the property remains on the market unsold, the more potential purchasers ask the question about the issues with the property and whether the vendors price expectation is realistic or not.

Serving the community

Manish Thakkar left India in 2001 for a better life for his family. He found it in Hamilton, Chris Gardner writes.

When Manish Thakkar says retail crime is rampant in the country, he talks from experience.

In February last year, Thakkar was the victim of an aggravated robbery by two masked and one motorbike helmeted robber at his superette in Hamilton.

“It was horrible,” he remembered. He had a gun pointed at him and was left battered and bruised. “They took cash and cigarettes.”

Despite this, last month Thakkar opened New Zealand’s largest independent supermarket, Fresh In Fresh Out (FIFO) at Grandview Mall in Nawton, with his second wife Rupali Thakkar and business partners Rakesh and Aarti Patel.

There to do the honours was Act Party leader David Seymour who said the owners were “heroes” taking huge risks for their community.

“Some people think that the Government can fix it all,” Seymour said.

“That’s only half true. We can do some things, we can make the streets safe, but the truth is if you want to solve the problem the real solutions start with business, they come from community, they come from people making a difference in their own lives, as are these entrepreneurs taking on that supermarket duopoly the way they are today, that’s what makes a real difference, that’s what’s important.”

The owners have spent $2 million reimagining the former Countdown supermarket that closed eight months ago due to problems with the buildings cool store and ongoing retail crime.

Thakkar is part of a group of Waikato retailers who hope to stay connected with Police minister Mark Mitchell to agitate for a government crackdown on crime.

Hamilton East MP Ryan Hamilton, who was also at the opening, said it took courage for Thakkar to step up and fill the gap in Nawton.

Houston Technology founder Alan Chew was first to the till with a banana, describing FIFO as “great news for the community.” Thakkar left an engineering role in Gujarat, India to emigrate to Hamilton in 2001 with his first wife Nishma and children to accept a role as a maintenance engineer at

Ulrich Aluminium.

A lack of New Zealand experience saw Thakkar turn to retail in 2009.

“Migrant engineers and doctors need to get jobs,” he said. “Because they don’t have any New Zealand experience, they struggle to get jobs.”

When they had saved enough the Thakkars opened two dairies in Hamilton, and one in Cambridge, Waihou, Waiuku, and Waharoa. The dairies were sold in 2017 to fund the opening of SuperValue Parkwood in Gordonton Road, Hamilton.

The opening of the Hamilton supermarket seven years later follows the opening of a smaller FIFO Supermarket in Mount Eden, Auckland, selling Indian products.

The supermarket has created 20 full time positions, and there is more work on the horizon for the community.

Thakkar reckons around 600 people attended the opening of the supermarket. How was business on the opening weekend?

“Very good. Even busier than our expectations. Even on a weekend when people do not have enough money the supermarket was really doing well. Our goal is not to make money, big profits, we want to serve the community.”

ACT Party leader David Seymour was heckled at the opening of the FIFO Supermarket in Hamilton.

Supermarket owners, from left, Rupali Thakkar, Aarti Patel, Rakesh Patel and Manish Thakkar, at the Fresh In Fresh Out supermarket in Hamilton.

Time to look at fixed rate

By CLAIRE WILLIAMSON

While the Government’s controversial housing policy changes for first home buyers are currently front and centre; the slightly less talked about topic as we close out the last month of Autumn seemed to be the OCR review; glanced over amid a storm of rushed Kainga Ora applications.

What’s interesting about the way interest rates are tracking at the moment is actually just how little they have moved since the beginning of the year. With plenty of sub 3% rates rolling into the 6%s, the value of advice is becoming more and more important.

For those who have already got over the hump of buying their first home –the question of “what shall I do with my interest rate?” is ringing loudly. There is confusion around the right thing to do, and no “one size fits all” approach.

In our world, while the interest rate you get is important (especially in today’s market) your loan structure and what might be coming up for you is at least equally if not more critical to meeting your goals.

SBS sent tongues wagging last month when they came out with a very competitive fixed rate for three years, and there was a flurry of questions across the board around whether it was a deal worth taking.

Like all good mortgage advisers, we did some number crunching on the three year 5.99% and found that we’d need to see an average of 5.50% across year two and year three to be competitive against

the standard 1 year offering of 6.89%. That actually stacks up well considering the expectation that rates might still take another 12 months to start dropping.

But unfortunately for borrowers, the other lenders haven’t followed SBS’s lead, and most of the medium-term fixed rates have stubbornly remained in the mid 6%s. Many in a position to re-fix are looking simply at the face-value cost and the repayments, and banks are gently using their reminder emails to encourage longer term fixed options. It’s important to consider not just the cost week-toweek, but how that cost is likely going to change over time, too.

Three years is a long time for many borrowers, particularly those who are younger, building careers, and more likely to have a change in role or family situation. They may have a growing business, variable income, or be taking time off to care for family.

And while rates are relatively compressed across the terms (with less than 1% separating a 6 month and 5 year rate), fixing any rates beyond 2 years at the moment is risking a higher cost in the later part of the fixed period. That’s not necessarily a bad thing at all, but it’s important to be really clear on the pros and cons.

So what should you do with your fixed rate?

Talking to your adviser is a great start.

• Claire Williamson is a mortgage advisor for My Mortgage

The power of collaboration

By NICOLA GREENWELL

Collaboration is a powerful force driving economic growth and community vitality.

At a time when budgets are constrained, working together can address common challenges, pool expertise and resources, and create synergies that lead to sustainable development, and have a larger impact than would be possible at an individual level.

While domestically, regions across the motu are all friendly competitors, international travellers don’t see regional boundaries. Strong partnerships with our neighbouring regions allow us to share a common message highlighting the central North Island and our Pacific Coast Highway and the Thermal Explorer Highway touring routes.

In long-haul markets like the USA, UK and Europe, Waikato joins a collective partnership with seven other regions, Coromandel, Bay of Plenty, Taupō, Rotorua, Ruapehu, Tairawhiti Gisborne and Hawkes Bay; known as Explore Central North Island to promote the country as a visitor destination.

The relationship allows us to pool our financial and staff resources and stretch our collective efforts further than we could as individual regions.

Another key regional partnership we are part of is the Thermal Explorer Regional Events Fund, a collaborative effort across the Waikato, Rotorua, Taupō, and Ruapehu regions.

The $3.75 million fund, which is now in its final year of operation, was established by central government in the aftermath of the Covid-19 pandemic to stimulate domestic tourism. This fund supports diverse events, from cultural events to business conferences and trail runs.

Approximately 370,000 people are expected to attend these events.

The fund also provides capability building opportunities for event organisers in the four regions.

Looking southwards, we joined forces with Venture Taranaki throughout the pandemic to develop The Waikato to Taranaki Way, a curated self-drive itinerary along the west coast of the North Island.

We also undertake partnerships to create industry resources and build capability.

An example of central government and local agencies coming together to create a legacy resource is our new Destination Insights Dashboard. Alone, we couldn’t have financially achieved this, but by partnering with neighbouring regions we were able to create a shared data platform and regional statistics dashboard. This analysis tool is designed for us to use in business planning, operational forecasting and marketing activities.

Of course, collaboration doesn't just happen when funding is involved, some of our most powerful regional and national partnerships are simply based on sharing knowledge and advice.

As a network of regional tourism organisations across the country the strength of our camaraderie and willingness to share intel, learnings and collectively problem-solve, rises the tide for us all, and the communities we serve.

And it goes without saying that good people are at the heart of any collaboration. Without the tight-knit working relationships we have with our national partners such as Tourism New Zealand, Business Events Industry Aotearoa, New Zealand Events Association, Tourism Industry Aotearoa, and Tourism Export Council New Zealand, and our local ones including councils, tourism operators, fellow business associations and community groups, we just couldn't achieve all the mahi and success that we do.

• Nicola Greenwell is Chief Executive, Hamilton and Waikato Tourism

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Fieldays creates connection

By Chris Gardner

Fieldays chief executive Peter Nation is not expecting record sales this month, despite prepandemic exhibitor numbers, but what the event lacks in cash will be made up for in connection.

Around 120,000 punters are expected to visit 11,000 trade stands at the 56th iteration of the southern hemisphere’s largest agricultural event from June 12-15 at Mystery Creek Events Centre in Waipā District.

“There won’t be record sales,” Nation said. The economic climate has seen to that. “But Fieldays is a really good connection piece so people can get time away from

home, meet with family, friends, trusted suppliers, salespeople, consultants, and other professionals."

It’s also about conversation and collaboration between the economic powerhouse that is rural New Zealand and its support services.

“There’s lots of opportunity to talk to a government agencies and others about issues they’re not sure on, whether it’s National Animal Identification and Tracing (NAIT), Ministry for Primary Industries (MPI), regional councils, you name it. There’s an opportunity to come and chew the fat about governance, compliance, whatever.”

For example, multiple themed hubs around the site are designed to attract and serve punters.

The Health Wellbeing Hub, staffed by 100 health professionals, is returning for its 11th year. About 30,000 visitors, or a quarter, go through.

“Pre COVID a mother and daughter, in her early 20s, walked in and the mother said let’s get our sugar levels tested for diabetes. The nurse told the daughter you’ve got type A diabetes and if you don’t get medical help soon, you’re going to be dead in six months.”

Fieldays is 99 per cent full as far as exhibitors are concerned.

“That defies gravity with the economy,” Nation said.

“We’ve worked hard for that. You don’t just sit there and wait for them to come; you’ve got to sell the event and explain the value of coming.

"There are pockets of industry

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As essential members of any agri-business advisory team, our specialists provide comprehensive assistance across a spectrum of rural law aspects, ensuring steadfast

doing really well and there’s others hurting.

"The sheep industry’s in a bit of doldrum, beef’s OK and people are getting a bit excited by dairy with the forecasting. Fonterra has had a really good profit year. Those things bode well. We’ve got a lot of grower industries here. Apple and pear are going OK, the wine industry is going well, and plant machinery, technology, software around the edges.”

Fieldays has had a bit of a revamp since Nation joined eight

support for the backbone of New Zealand’s economy.

Our specialists can assist on all aspects of rural law, including;

• Equity partnerships

• Farms

• Environmental

• Supply agreements

• Livestock

• Health and safety

• Employment

• Sharemilking agreements

• Farm management

• Overseas Investment Office considerations

• Purchase/Sale (Farm sales and acquisitions)

• Leases (Farm leasing)

• Taxation implications

• Succession planning

• Asset protection

years ago.

“Everything we do around the event comes back to Innovation, education, and globalisation. We see a lot of organisations display new innovation, a lot of the brands that exhibit are global and we’ve got 49 companies or organisations from nine countries exhibiting and 25 delegations from 15 countries and another 17 countries visiting either it’s a one or two.

“It’s clear that New Zealand’s open for business.”

The Fieldays mobile apps

includes an innovation trail that takes visitors to innovations around Mystery Creek.

“We’ve had our largest innovation entries in 10 years. That that bodes really, really well for the industry when you’ve got people out there putting their shoulders to the wheel, producing new technologies and innovation to solve problems.

The Careers & Education Hub offers the opportunity for school pupils to discuss starting a career, or adults changing career.

Fieldays chief executive Peter Nation

Exhibition space at Fieldays 2024 is 99 per cent full.

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Hobbiton - in tourist’s hands

By Chris Gardner

Tourists are binge-watching Sir Peter Jackson’s The Hobbit and The Lord of the Rings trilogies on smartphones and tablets as they take in the sights of Middle-earth.

British backpacker Hannah Flowers, 19, fell in love with Middle-earth when she arrived in New Zealand for a whistle stop North Island tour in April.

“I wasn’t a fan, but a lot of people who are close to me are massive fans,’” said Flowers. “A flight to New Zealand sounded like a perfect time. As they were readily available on Netflix, I downloaded them and began watching The Lord of The Rings trilogy on my flight.”

She completed The Hobbit Trilogy while backpacking.

A visit to Hobbiton was inevitable. Half of the hundreds of thousands of visitors have not read the books or seen the films.

“Hobbiton was really interesting, and the attention to detail was the selling point, especially in the Hobbit holes that you can enter. The atmosphere and the tour guides brought the place to life, and it did feel like stepping into another world. “

She paid $120 to enter.

“It was well worth the entry price, even more so compared to the UK, where novelty attractions such as this are priced around the same, if not more. I would recommend it to anyone visiting NZ, and if I come back, I will be visiting Hobbiton again.”

“The ability to access films on-the-go has been a benefit to movie locations,” said Hairy Feet Waitomo Scenic Film Location Tour owner Suzie Denize.

The King Country location near Piopio was used in The Hobbit films, and film crews returned for three episodes of the first season of The Lord of the Rings: The Rings of Power.

Getting back to fitness

By Chris Gardner

Hobbiton began its post-pandemic journey to recovery with Middle-earth Halfling Marathons.

“The Hobbits went on quite a big adventure on their feet and that’s what our visitors want to do as well,” said general tourism manager Shayne Forrest.

The idea had been a decade in the making, but the pandemic gave the team time to focus on it.

“It’s something only New Zealand can do, linking in to that Middle-earth story.

“We’ve gone from 1000 participants the first year, 2021, to 1200 the next year, and this year we were sold out at 1500.”

There were 480 Middle-earth costumed participants from 26 countries.

“We’re getting emails at the moment about next year,” Forrest said. “They want to plan their trip around the Halfling Marathon. It’s opened up a completely different market segment for us.

Participants get to go to other parts of the Alexander property that we used for filming that we can’t access during tours because they are too far out the back. There’s fiddle

“Visitors love to ‘be in the scenes’ that they see on their device,” she said.

"Our tours are longer than before, as we have more film locations to share with guests, since The Rings of Power filmed here. We’re always tweaking and adding to our experience; whether it’s a new pathway, prop, or story.”

Denize said most Hairy Feet Waitomo guests booked well in advance from Europe, North America, and Australasia.

“When they land in New Zealand, they tend to have an itinerary as to where they are going, what activities they will do and where they will be staying.”

Middle-earth location guidebook author Ian Brodie said easy access to the films and television series via streaming services allowed visitors to look at particular scenes and identify those they wish to visit.

“New Zealand is now indelibly stamped as Middle-earth and the countries continued star role in other films and television series just furthers the country and its landscape.” He was seeing more sales per annum than there had been for quite a while.

“The interest is still just as poignant. We are dealing with beautiful parts of the country, so they are always at the forefront of people’s location choices.”

players and flute players at the Green Dragon, the final aid station. There’s meats and cheeses and breads at the Green Dragon bar. Some of them will add an extra two hours to their time as they sit down and enjoy themselves. A lot of them come back the next day and bring their families. They stay in the region. That’s what we want, they come here a bit longer and experience a bit more.”

Hamilton & Waikato Tourism chief executive Nicola Greenwell said the MiddleEarth Halfling Marathon was supported by the first round of funding from the Thermal Explorer Regional Events Fund in 2021.

“The fund, set up by the Ministry of Business, Innovation and Employment (MBIE) was developed to help support and provide new domestic visitation opportunities for the events and tourism sectors which were severely impacted by the COVID-19 pandemic.”

Hobbiton has hosted Evening Banquet Tours since 2015.

“The banquet is really popular. It’s sold out two to three months in advance. It’s limited to 48 people, and we run it a minimum of four nights a week,

Middle-earth location guidebook sales have increased, says author Ian Brodie.

Waitomo’s Suzie Denize, seen with husband Warrick, says media streaming has benefited tourists.

Hobbiton “well worth the entry price” says backpacker Hannah Flowers.

New Zealand Thoroughbred Racing celebrated the move into its new Cambridge head office last month. Pictured were NZTR Head of People and Culture Tash Adamstein, Head of Finance Rowan Cramond, Forsyth Barr investment advisor Sam Blatchford and NZTR chief operating officer Darin Balcombe with Dan Smith, Head of Marketing, Communications and Wagering, in the background.

Photo: Mary Anne Gill.

At the first Waipā Home and Leisure Show Walter Gilmore of Bupa Rossendale makes himself comfortable in one of Kiwi AZ Creationz’s full barrel bench seats made by Hamish McIntosh in Dinsdale.

Cambridge Chamber of Commerce chair Tracey Olivier with architect Antanas Procuta who was granted life membership with the Cambridge Chamber for his outstanding contribution and unwavering dedication to the chamber for more than 20 years as both a member and Cornerstone Partner

Matangi professional director Tania Simpson (Ngāti Maniapoto, Ngā Puhi, Ngāi Tahu) receives her ONZM for services to governance and Māori from Governor-General Dame Cindy Kiro at Government House in Auckland last month.

Former Fieldays chair Peter Carr received a QSM for services to the community from Governor-General Dame Cindy Kiro at Government House in Wellington last month.

Rotary International President representative Johnny Yu and his wife Veronica (left) flew in from the Philippines last month to attend the 2024 Rotary District 9930 Conference in Cambridge. They were pictured with former National Party MP Lindsay Tisch and his Rotarian wife Leonie. At right is the Rotary District 9930 Governor Bill Robinson, and at the rear is Cambridge Rotary Club president David Partis. Photo: Viv Posselt

Waikato University’s new Hiko Hub co-working business precinct opened last month. At the opening were, from left, Peter Boyle, Exaba chief executive, Waikato Management School pro-vice chancellor Matt Bolger and Waikato University chief operating officer Jim Mercer.

Photo: Mary Anne Gill

2 Golds, 3 Silvers and a win for sustainability.

The New Zealand Commercial Project Awards, a competition which showcases and celebrates the best in commercial construction from around the country, saw a total of 119 entries for 2024.

The Foster Group (Fosters) are celebrating two Gold and three Silver awards across five categories: commercial, industrial, retail, public and residential.

Gold went to Union Square’s Buildings E and F (commercial), and Convex (industrial). NIWA won Silver in the public category, while Bay of Plenty projects The Village Omokoroa (retail) and Vantage (residential) were also awarded Silver.

With both Union Square and The Village Omokoroa being Fosters’

property development projects, the awards highlight the Group’s growing strength in this area.

It was pleasing to note that sustainability was at the forefront in this year’s competition.

A statement from Registered Master Builders, who run the nationwide competition, noted: “The trend towards sustainable building practices reflects a growing awareness within the commercial sector of the importance of environmental stewardship.”

As conscious leaders in sustainable building practice, we take that as a win too. Got a