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Bridgestone at three New Zealand estates

Overview

Bridgestone Corporation is the world’s largest tyre manufacturer, supplying quality tyres for cars, trucks, buses, construction and mining vehicles, industrial and agricultural machinery, aircraft and motorcycles.

The global business’ New Zealand subsidiary asked property partner Goodman to develop industrial and commercial premises in multiple locations in Auckland and Christchurch.

Challenge

In 2010, Bridgestone New Zealand was on the hunt for larger warehousing and office premises in Auckland.  A combined warehouse and head office in Mount Wellington was no longer flexible enough to meet Bridgestone’s changing needs as it shifted focus from manufacturing to sales.  By 2013, a site for a new retread processing plant was also required.

In 2014, Bridgestone again turned to Goodman to develop a new commercial truck tyre changing facility in Christchurch, having pinpointed the Glassworks industry park as the perfect location.

David Gell, Bridgestone New Zealand’s Property Asset Manager, says Bridgestone was initially drawn to Goodman because of the flexibility of options it provided.

“The other thing that attracted us to Goodman was the security and hassle-free occupancy that they could offer us, which was a real plus,” says David.

Goodman Solution

In Auckland, Goodman designed and purpose-built a distribution centre at the M20 business park at Wiri, as well as providing 1,500 sqm of office space at the Millennium Centre in Great South Rd, Greenlane.  By separating the distribution and office functions, Bridgestone could base each operation at ideal locations in high quality facilities.

The success of these projects led to Goodman being asked to design and build Bridgestone’s new retread plant at M20 in 2013.


In Christchurch, Goodman’s Glassworks industrial park fronts the main arterial route, Halswell Junction Rd, giving Bridgestone exposure to surrounding logistics and agricultural businesses.

Chief Executive Officer John Dakin says Goodman has the scale necessary to accommodate Bridgestone’s changing property requirements.

“Goodman is not a traditional landlord, in that we have customers not tenants and we do our best to ensure their businesses prosper in the long-term.”

Results

Goodman has given Bridgestone a real estate portfolio designed to meet a range of needs as the business has continued to grow in New Zealand.

Formal agreements have built-in flexibility, with expansion rights and lease renewal options.

“We see Goodman as a property partner for the long-term,” says Bridgestone’s David Gell.