“There are plenty of ordinary sites,” he says.“But truly great sites are rare.” Location, he stresses, is the one variable that can never be changed. Economic cycles fluctuate. Regulatory frameworks evolve. But geography is permanent. That discipline recently led Templeton to acquire a highly unusual one-hectare waterfront site in Auckland, located just ten minutes from the CBD and five minutes from the beach. Zoned for a true mixed-use outcome—including an 18-storey tower, hotel, residential, and retail—the site is poised to become a landmark project. Surrounded by water and offering uninterrupted views back toward the city skyline, the development embodies everything Templeton looks for: rarity, context, and long-term placemaking potential. NAVIGATING REGULATION AND ECONOMIC CYCLES Operating in New Zealand brings its own complexities. While Templeton is accustomed to economic cycles—McKenna likens events such as the GFC to a “tsunami” that can be prepared for but never avoided—regulatory complexity has been a more persistent challenge. New Zealand’s planning framework is highly prescriptive, with more than 1,000 zoning classifications compared to Japan’s 12. Layered regulations around soil protection, freshwater Creating Spaces for People www.templetongroup.co.nz 38 BUSINESS VIEW OCEANIA VOLUME 08, ISSUE 01
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