STAKEHOLDER NEWSLETTER | AUGUST 2023
IN THIS EDITION
OVERVIEW
A Message From Our Managing Director - Scott Gibbons
We have covered quite a bit of ground in this edition of the newsletter.
We have updates on tenant movements and progress with our developments. While we are all more cautious as we work through this inflationary period, it is encouraging that we still have some opportunities to relocate tenants and invest in some great new developments.
We are finding more tenants asking about the green credentials of our buildings and so this is becoming more of a focus with our engagement, including the measuring of our carbon footprint.
Lastly, I wish to inform you that Joe Scragg has made the decision to resign from his role as Chief Executive of Gibbons.
I would like to take this opportunity to thank Joe for his dedication, leadership, and significant contribution to Gibbons throughout his nine-year tenure. I am sure I am not alone in recognising the level of achievement and accomplishment Joe has overseen throughout this time.
Joe will transition from his role over the next 3 months, and we will keep you informed and updated on any significant developments leading up to Joe’s departure and the transition plans. If you have any questions or queries, please do not hesitate to get in touch.
Scott Gibbons - Managing Director
IN OUR COMMUNITY | Education
Nelson College: Gibbons Trade Education Centre
We are delighted to be celebrating the 10-year anniversary of the Nelson College Gibbons Trade Education Centre. With over 500 students having been through the facility over the past decade, we are incredibly proud in helping to develop young men to be world-and-work ready.
As a family and business, we actively support a range of initiatives that have a lasting positive impact on the communities in which we operate. If you would like to see more of what we do in our community, visit www.gibbons.co.nz/community
ESG | Carbon Emissions
Carbon Footprint and Your Business
Over these past few months, we’ve been catching up with our tenants to talk about their sustainability goals and how Gibbons can help.
What we realised is that when it comes to carbon emissions, most people only think of their impact from driving their vehicles around. But nearly all aspects of business operations can add to your carbon footprint and depending on your type of business, vehicles may not be the biggest offender. So here is a quick guide on what makes up your carbon footprint.
A carbon footprint of your business is a measurement of all of the greenhouse gases which your business produces. The activities of your business produce these gases directly and indirectly. They are directly produced by burning gas to generate heat/hot water for your tenancy, or using fuel in your vehicles. They are indirectly produced from using electricity, creating waste, and also when you purchase goods and services, all of which will have required energy to produce and deliver to you.
Carbon footprints are measured by a globally recognised standard, ensuring that all emissions are assessed in the same way. The GHG (greenhouse gas) Protocol breaks down the direct and indirect emissions as:
Scope 1: These are the direct emissions produced by activities which are under your direct control as a business. This would include emissions from burning fuel for on-site heating (including hot water), burning fuel in vehicles owned by the business, and gases escaping from on-site air conditioning systems.
Scope 2: Indirect emissions resulting from the generation of electricity which you use as a business.
Scope 3: All of the other indirect emissions resulting from the activities of your business. This could include:
purchasing of goods and services
business travel in vehicles which are not owned by the company (taxi, rental cars, staff commute in personal vehicles)
air flights
distribution of products and services that you buy and sell
waste disposal
water use
Depending on your business and its main operations, you may find that flights, freight or waste make up your largest contributor to your CO2e emissions. However, if you are a courier business, than it would most likely be fuel consumption. Either way, by knowing your biggest producers of emissions, you can make targets to reduce them and potentially change some of your business behaviours for the better. For instance, you can make more video meetings in-lieu of flying for out-of-town catch-ups. Or, if face-to-face meetings are essential, try to book multiple meetings with other suppliers/businesses for the same visit and reduce the total number of flights needed for the year. If waste is your biggest producer, you could introduce more recycling and/or composting to reduce the amount of rubbish going to landfill.
The real key here is to measure your emissions; after all, you can’t improve what you don’t measure. You may be surprised by the impact your business is having on greenhouse gas emissions and how easy it is to make some positive changes! If you would like to know more and how to measure/reduce GHGs, please reach out to our ESG Manager, Stephanie stephanie@gibbons.co.nz who is happy to help.
DEVELOPMENTS | Autumn Update
Our Developments
Nelson Junction
Construction is well underway at Nelson Junction, the large-format retail centre being developed in Annesbrook, Nelson. The centre is currently home to the Nelson Mitre 10 Mega store and a Speight’s Alehouse and is zoned as a 30,000m2 large format retail precinct.
The new building includes 12 retail tenancies that will range in size from 500m² to 1,500 m². We are excited to have a great mix and range of tenants for the development and will be announcing them over the next few months. Handovers for tenant fitouts are projected to start in October and we'd like to see this stage fully operational by the end of the first quarter 2024.
Planning work on future stages of the 9ha site is also under way, including groundwork on extending car parking spaces, the greenspace to the south of the site and an upgrade to the Pascoe Street site entrance.
Berryfields Crossing
The construction of Stage 1 of Berryfields Crossing is all but complete. We have had a flurry of openings over the past few months, with BestStart, Eat Italy and Joe’s Garage joining Silky Otter at our community-centred development located in Richmond West. The final tenancy to complete Stage 1, Burger N Beast, are currently working on their fit out and due to open in the coming month.
Stage 2 planning is now underway for further commercial opportunities on the road-fronting corner of the site. There is also early design work for a third stage in the form of a professional services/office style building more centralised on the development site.
Depending on the demands of tenants, we are looking to have the details for Stage 2 ironed out later this year, with an eye to getting something underway in 2024.
Lower Queen Street
LQS Industrial Park is a 32-hectare site located on Lower Queen Street, Richmond. It is home to a range of light and heavy industrial tenants.
Our newest building - the warehouse spec build, is now nearing completion and we are in advanced discussions with several tenants. The spec build consists of 4 individual tenancies ranging from 335 to 500m2 in size. We built this building in response to the market requesting smaller existing spaces for growing businesses. Our idea is to bring these tenants in and help them grow their business and eventually they may end up with a larger unit elsewhere within LQS.
We have received a good level on interest and we hope to have the building fully occupied by September, when it is expected to be completed.
We are working with several other parties looking for larger footprint establishments and we'd hope to get some of these underway over the next year.
TENANT UPDATE | Welcome
It has been a busy start to the year as we welcomed new businesses at Berryfields Crossing, Richmond as well as Stoneridge on Lunn, Auckland.
A Warm Welcome to Our New Tenants
Berryfields Crossing | Richmond
Great news! We're excited to share that Stage 1 of Berryfields Crossing has reached full retailer capacity, and we have some fantastic additions to welcome: Joe's Garage, Eat Italy Ristorante Pizzeria, and BestStart Berryfields Crossing. These remarkable retailers bring a wealth of culinary delights, including Joe's Garage's delicious dishes and the authentic flavours of Italy from Eat Italy. Plus, parents can rest assured knowing that BestStart Early Childcare Education offers a nurturing environment for their little ones. It's an exciting milestone for Berryfields, and we invite you to join us in celebrating these wonderful new members of our community!
Joe’s Garage
Eat Italy
BestStart Educare
Stoneridge on Lunn | Auckland
We are also thrilled to announce that the Stoneridge on Lunn family is now complete with the addition of two exciting retailers: Melt Soul Food and Hulucat Bubble Tea! Our retail space is now at full capacity, and we couldn't be more delighted to welcome these new members. Melt and Hulucat bring their unique offerings to our vibrant community, enhancing the shopping experience for all.
Melt Soul Food
Hulucat Bubble Tea