Investors eye innovative Tauriko plant
A food products plant which specialises in processing waste kiwifruit, is for sale in the Tauriko Business Estate, near Tauranga.
Tauranga Ray White commercial agent Philip Hunt, says the newly built factory at Lot 297 Paerangi Pl, has much going for it as a property investment.
The tenant i s New Zealand Specialty Kiwifruit Products Ltd, which has a bank- guaranteed 15- yearlease; an abundant supply of raw material and customers across Asia calling for its products.
The property is for sale through deadline private treaty, closing on July 12, unless sold earlier.
“This ‘ Dried Kiwi’ complex is one of the most innovative food processing operations I have seen,” says Hunt — Ray White’s top commercial agent for the past two years.
NZ Specialty Kiwifruit Product utilise an abundant raw material ( waste kiwifuit), which till now has often been fed to stock, turning it into high- profit products for export.
“However, the facility, which is a few weeks away from completion, will have the capability to process additional produce besides kiwifruit.”
It comprises two main buildings totalling 3940sq m, which sit on a 7500sq m freehold site.
“Being in the Tauriko Business Estate is a desirable alternative to the Mt Maunganui industrial area,” says Hunt. “Tauriko has had unprecedented growth over two years and titled land of this size is rare there. Being just a few minutes from our largest port, many national companies have set up distribution centres or head- quarters at Tauriko. It is only about 12 km from the port, via the Takitimu Drive toll road; 9km from Tauranga CBD; 55 km from Rotorua and 97km from Hamilton.”
The factory comprises two concrete buildings with iron rooves, connected by a drive- through canopy.
Regarding seismic issues, these are expected to meet 100 per cent of the National Building Standard. The main building is to the northeastern corner of the site, providing a foodgrade factory and a two- level office and amenities block. The smaller building i s towards the eastern boundary and will provide a cool/ cold ( freezer- capable) store and adjacent yard. A drive- through canopy connecting the buildings will provide all weather access and free flow of products. The site provides good truck access with excellent drive- around and loading capabilities.
The plant features a lean- to roof with a stud height up to 8.15m. Two full- height roller doors are located along the eastern side, giving direct access to the canopy. Floors and walls are sealed to the required food grade and channel drains are in place. A two- level office and amenities block is toward the south- eastern corner of the main building. This is configured to provide reception, meeting room, lunch room and ablutions to the ground floor and open plan office, a partitioned office and meeting room to the first floor.
“This company has an enviable commercial and technological niche,” says Hunt. “A stand- out design feature of their buildings is the use of green and gold glass on the exterior — a connection with the green and gold kiwifruit industry.” A 3616 sq mdata centre on a 1.0865ha corner site at 35 Te Roto Drive, Paraparaumu has sold for $ 5.71m at an 8 per cent yield through Mark Sherlock and Stephen Lange, Bayleys Wellington. Unisys NZ has occupied the site for 17 years and signed a new five- year lease in October 2016. A 2136sq mfreehold site at 11 Mahunga Drive, Mangere, has sold on the market for $ 1,055,000, brokered by Dwayne Warby and Brad Johnston of Colliers International. A 408sq moffice floor plus an 88sq m courtyard on Level 6 of 175 Queen St, with basement carpark, has sold for $ 1.28m at 6.99 per cent yield through Quinn Ngo and Matt Lee of Bayleys’ international division. The tenant renewed for two years in April.