Budget for rebuild of New Plymouth’s Yarrow Stadium rises to $70 million

Taranaki Regional Council has advised that the budget for the rebuilding of stands at New Plymouth’s Yarrow Stadium will reach $70 million as a result of cost increases and supply chain issues.

David MacLeod, Chairman of the Taranaki Regional Council, which owns the venue through the Taranaki Stadium Trust, today advised the project cost is expected rise by 40% from its original budget of $50 million.

With a prior capacity of 25,000, the venue suffered significant damage during the 2016 Kaikōura earthquake, which left its two main stands structurally compromised.

Looking to refurbish the venue, Yarrow Stadium’s main East Stand is being demolished and replaced - with a projected opening date in 2024 - while the West Stand is being repaired with an anticipated reopening in September.

Other improvements will include a more resilient pitch and replacing the old lights with a brighter, more eco-friendly LED system.

Today also saw the release of an artist’s impression of the redesigned East Stand, which MacLeod said marked a major milestone for the project.

MacLeod noted “we think the East Stand’s design is absolutely fantastic and we hope our community will be thrilled when they see the artist’s impression and the details about the facilities on offer. We’re delighted to have been collaborating with Ngāti Te Whiti and their mahi is helping to make the stand a special place and unique to our region.”

MacLeod said that the original $50 million budget was based on the repair of the TSB Stand, which ultimately had to be demolished because repair work was uneconomic. Work on the East Stand’s design and costing is continuing but the overall budget target has been readjusted to $70 million.

MacLeod advised “it’s extremely disappointing we’ve had to adjust the budget,” MacLeod said. “Like many construction projects across the country, we’re facing major supply chain issues and materials are more expensive and that means the overall budget will be more than we had anticipated.

“When the original budget was set, we couldn’t have predicted the world we’re living in today with COVID-19 and the Ukraine-Russia war. We know that our community is also feeling the pain of rising prices so we’ve worked hard to minimise the impact on Taranaki ratepayers and the Yarrow Stadium targeted rate is not changing.

“We’ve secured an extra funding of $10 million from the (New Zealand) Government which has limited the impact on ratepayers, and we have to once again thank the Government for stepping up. The funding arrangement is a fantastic outcome for our region and more than we could have hoped for.”

The East Stand will feature a ‘double-sided’ design, allowing it to be used by those watching the main pitch or the sports field behind it. It will also feature three hospitality spaces and will have the ability to add temporary seating for big events.

Image: Artist impression of Yarrow Stadium's new East Stand. Credit: Taranaki Regional Council.