PGG-Wrightson Wool general manager Cedric Bayly said the 12,000sq m shed, with storage for more than 20,000 bales of wool, was on schedule.
Once it was completed, office staff and processing equipment would begin moving in as the company vacated its Parry St site on Dunedin's industrial foreshore.
The Dukes Rd site was being developed by Scales Corp and leased to PGG-Wrightson long term.
Mr Bayly said the large space in Dukes Rd site would maximise bale handling efficiency.
Transport companies would be contacted in November with details on the changes.
In mid-August, for the year to June result, PGG Wrightson's made a decision to write off goodwill of $321.1 million, which saw it report a $306.5 million loss for the year.
Stripping out the write-off, a profit of $14.6 million would have been posted compared with last year's profit of $24.5 million.
It was noted the company's retail, wool and irrigation businesses had performed strongly, with improved market share across various key categories, but its divisions in livestock, real estate, seeds and grain still faced challenges.