Smales Farm launches new business model with premium Albany property acquisition
26 February 2011. Smales Farm is venturing beyond the geographical footprint of the Smales Farm Technology Office Park site in Takapuna’s Taharoto Road - purchasing the ANZ Business Centre on Albany’s Corinthian Drive.
Smales Farm General Manager Daniel Henderson says the purchase signals a new growth strategy for the Smale family-owned business, which has developed the current Smales Farm Technology Office Park site since the late William Smale purchased the site in 1944. Today Smales Farm directors Greg, Bill and Chris Smale run the operation.
“The Smale family vision is to provide ‘the best place to work and do business,” Daniel Henderson says. “Aspiring to being the ‘best’ means delivering the best to all stakeholders, in the widest sense, and shouldering responsibility as good corporate citizens to make a positive contribution to the economy and country as a whole.
“The Smale family believe their competitive advantage comes from building the kind of environment where people actually want to go to work.
“Now, we are in effect taking that philosophy outside the physical footprint of Smales Farm and acquiring properties which are of a sufficient quality to fit within the Smale family ‘best place to work and do business’ vision. The ANZ Business Centre is such a building.
“We have also created a structure which will allow participation by investors outside of the Smale family. The ANZ Business Centre acquisition is the first to be based on a joint venture model, with Smales Farm taking a 50% ownership stake and joint venture partners taking the other 50%.
“Each new building acquisition will be treated as an individual business entity, but all will be managed by Smales Farm Corporate Services. The management will be in keeping with Smales Farm’s philosophy of providing excellent service to its tenants,” Daniel Henderson says.
The recently acquired ANZ Business Centre at 9-11 Corinthian Drive is home to a broad mix of retail and commercial businesses that span everything from telecommunications to yoga. Tenants include ANZ, Ministry of Justice, Westpac, Department of Labour, Lumley Insurance, Nando’s, Burger Fuel, Pizza Hut, Digital Mobile, Hobby City, Inside Africa, Every Guy, Solute Liquor, Bikram Yoga, Face Place and North Sea Village Chinese Restaurant.