Major Coolstore Investment Opportunity

69-71, Aerodrome Road, Mount Maunganui, Tauranga

By Negotiation

Proposed Usage
Industrial
Floor Area
14044.00 m²
Description:
Property ID
1br4z18

Asking price plus GST (if any).
- Freehold interest in a prime investment property
- Situated in the heart of the largest industrial precinct
- Secure tenant serving to a booming sector
- Located in one of the fastest growing cities of New Zealand
- Long term lease returning $1.742 million plus GST
- Ease of access to the Port of Tauranga, Tauranga Airport and major arterial routes

The offering presents a rare opportunity to purchase a prime industrial property in Tauranga, housing one of New Zealand's biggest kiwifruit processing and packing plants. The property is occupied, on a long term lease, by Mount Pack and Cool Ltd which packs and stores premium grade kiwifruit for export and marketing by Zespri International Limited.

The 14,044m2 property occupies a high profile site of 22,310m2 on the corner of Aviation Avenue and Aerodrome Road, situated in the heart of Mount Maunganui industrial precinct of booming Tauranga. It has a road frontage of approximately 210 metres and 70 metres to Aviation Avenue and Aerodrome Road, respectively.

The expansive warehousing, land and buildings are owned by Mount Pack and Cool Ltd's parent company Jace Investments Limited - generating annual net rental revenue of circa $1.742 million plus GST. As part of the sale and leaseback agreement, Mount Pack and Cool Ltd has just signed a new 10 year lease on the premises with two further five year rights of renewal.

The combination of a premium industrial property located within one of New Zealand's fastest growing areas, occupied under a long term lease to a secure tenant serving to the booming kiwifurit sector, make this offering a compelling investment opportunity.

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Mount Maunganui Area