The large-scale South Auckland packhouse and cool room facility operated by a leading player in the kiwifruit industry has gone up for sale.
The more than 1.15-hectare site on Phillip Road, Takanini, has been home to Auckland Pack and Cool since 2006 and is a subsidiary of Tauranga-based Mount Pack and Cool, with the group packing over 10 percent of New Zealand’s kiwifruit harvest.
One of only two post-harvest kiwifruit facilities in Auckland, the Takanini complex services growers from northern Waikato to Northland.
It incorporates a large open pack house, cool rooms, controlled atmosphere stores, bin storage, processing, amenities and separate manager’s accommodation.
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The property generates a net rental return of $997,507 plus outgoings and GST per annum. The current lease runs through to 2033 with two further five-year rights of renewal. The lease agreement locks in two-yearly CPI rent reviews and market reviews every five years.
Bayleys salesperson Layne Harwood said this long-term lease and built-in rental growth, along with provisions holding the tenant responsible for equipment maintenance, would make the site particularly attractive to passive investors.
“Adding further to the appeal is the chance to gain a stake in the high-growth, export-led kiwifruit industry.
"New owners will have access to the success of one of New Zealand’s premier agri-sector industries, exporting Kiwifruit through Zespri International, the world’s largest marketer of kiwifruit.
“This is a unique opportunity to secure a facility run by a Kiwi-owned and operated business which is at the forefront of post-harvest kiwifruit packing and distribution and has a substantial operation in Tauranga to support the Takanini property,” Harwood said.
Kiwifruit is New Zealand’s highest value horticultural export with some 622,550 tonnes (180 million trays) valued at $2.71 billion. Zespri has ambitious plans to lift this to 260 million trays by 2025 with a focus on North America, China, Taiwan and Southeast Asia.
The freehold land and buildings at 149 Phillip Road, Takanini, Auckland, are being offered for sale through Harwood and colleague Shane Snijder of Bayleys Real Estate.
The property will be sold by deadline private treaty closing on Wednesday 4 December, unless it is sold prior.
The approximately 7,223 square metres of buildings sit on some 1.158 hectares of land, zoned Mixed Rural under the Auckland Unitary Plan.
Snijder said the Phillip Road site was home to a well-established and fully developed post-harvest processing facility.
“The property has been added to over the years since its initial construction in 1990, and through to 2017. Today’s fully optimised complex encompasses six post-harvest buildings, joined together in part by connecting canopies.
“The site is fully built over, with an eye to functionality, access and manoeuvrability,” he said.
“This effectively level, regular-shaped site has wide frontage to Phillip Road and three vehicle crossings. There is a carpark for staff and visitors at the front, on-site storage for fruit transportation bins, and good access for trucks and other vehicles around the permitter of the complex.
“The facility benefits from its position in a mixed rural and residential suburb. Being at the southern edge of the greater Auckland metropolitan area, Takanini offers easy access to both urban amenities and rural properties.
“The area is well connected by public transport and major highways, with the proposed Mill Road upgrade project promising a further boost by creating a major alternative to the Southern Motorway,” Snijder said.
- Supplied by Bayleys
