Oamaru Land Holdings, owned by Auckland businessmen Andrew and Michael Carpenter, is behind the scheme. The company awarded Whitestone Contracting Ltd the contract to build the 17-lot first stage of a major development on a 22ha site between State Highway 1 and the railway line, opposite the Oamaru Racecourse.
Beca is the project manager and marketing is being handled by Oamaru company Spivey Real Estate.
Yesterday, Tony Spivey Sen described the project as "personally, I think the best and most positive news the town has had in 40 years, from a commercial point of view."
Work would start next month or October and be completed early next year.
The new business park was needed to provide affordable, greenfield commercial sites of reasonable and large sizes, which were in short supply in Oamaru, Mr Spivey said.
"The town has had a need for a business park like this for at least 20 years. I've been aware of numerous businesses looking to locate to Oamaru but have not been able to do so because of a lack of suitably zoned sites."
That had been recognised by the Waitaki District Council and its chief executive, Michael Ross, playing an active role, adopting a very positive attitude and a desire to see the development go ahead, he said.
Mr Spivey was also pleased North Otago-based Whitestone Contracting had the contract for the first stage, which would cost more than $3.5 million once all aspects, from land development to installation of services, had been completed.
Access to the park would be from SH1, and slip lanes would be provided for safe entry and exit. The front of the park would be landscaped and an internal loop road would access the lots, as well as providing access for future stages on the northern end of the land.
There had been good interest in the first stage from a wide range of businesses.
Lots cost from $82 to $155 a square metre for premium locations in the business park.
Four lots were already under contract, he said.
The number of lots and construction of future stages would depend on demand.
Development of the park was announced in December by Oamaru Land Holdings, which bought the site in 2008.
The site was owned by Japanese businessman the late Dr Hirotomo Ochi, who also owned Teschemakers, and he had plans for a business park on it. He died in 2005 and the site was bought by the Carpenters, initially through their company, TR Group Ltd.
