The western portion of this building was completed in 1946 - the store was designed to store 93,000 boxes of butter or 31,000 crates of cheese.

Two permits were granted to the Taranaki Producers' Freezing Works Company in 1945 for construction activities on Section 12 Hakirau Street. The first permit was granted on 7 February for the rebuilding of stores, the contractor was W. Williamson Construction Company, and the estimated construction cost was £48,689. The second permit was granted on 30 October for an 'extra storey', the contractor was again W. Williamson Construction Company, and the estimated construction cost was £17,000.

The eastern section of this building was constructed in 1951, and replaced the freezing chambers from the 1904 building, which were demolished prior to construction. A permit was granted to the Taranaki Producers' Freezing Works Company on 11 September 1951 for the construction of the coolstore additions - W. Williamson Construction Company were once again the contractors, and the estimated construction cost was £105,000.

The complex has been bought by Seaport Land Company who have put forward a $115 million proposal to convert the area into a mix of residential, offices and retail. In 2020 the proposal was turned down by the Environment Court. The company appealed the decision and a second hearing was conducted in August 2022. 

In May 2023 it was announced that a one-off zoning change around Port Taranaki had been approved paving the way for the multi-million dollar redevelopment. However, it appears likely that interested parties (Port Taranaki for example) may appeal the decision.

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