Fonterra’s former regional milk powder distribution centre in the Hawkes Bay is on the market for sale or lease, and the realtor says it may suit a logistics operator or freight forwarding business.
The latest Hawke’s Bay District Economic Monitor shows that the primary produce sector accounted for 10.7% of the region’s Gross Domestic Product. Transport and storage accounted for 4.2% of the Bay’s GDP.
Fonterra occupied the facility from the mid-2000s until earlier this year when the dairy company transferred its Hawke’s Bay warehousing activity to the Port of Tauranga.
Bayleys Napier salesperson Rollo Vavasour is marketing the freehold land and single-storey building for sale by negotiation or lease, it is one of 68 premises owned by listed property company Argosy.
Vavasour says the buildings sat within a main industrial zoning, and would suit an owner/occupier – most likely with a current interest in the region’s export-focused primary produce sector.
“Alternatively, the substantial warehousing capability could be utilised by a logistics or freight forwarding business. The complex benefits from being handily positioned within the city’s port zone, yet just three kilometres from the CBD close to a main arterial route. It also has a 4.9-metre ceiling stud and multiple large vehicle entry points,” he says.
The 18,431 square metre complex sits on some 2.69 hectares of land in Napier’s Pandora industrial estate and with street frontage onto both Pandora Road and Tyne Street. It also borders Napier’s main trunk rail line.
The complex consists of multiple building areas, encompassing 17,883 square metres of warehousing, 211 square metres of ground level office space, more than 175 square metres of mezzanine floor office space and 162 square metres of covered canopy area.
The fully fenced sealed yard measures 7000 square metres with the truck and staff car parking, as well as access to the multiple entry and exit roller doors on three sides of the warehouse.
Architectural plans have also been drawn up for the potential subdivision of the building into two stand-alone warehouses of 8100 square metres and 8420 square metres – each with internal office space.
Under this configuration, the buildings would be separated by a 12-metre access road fronting onto Tyne Street. The two warehouse option would allow for possible occupancy by two different tenants.
Vavasour says the 1980s-built premises had been well maintained throughout its life and was in a ‘turnkey’ state ready for a new tenancy. The air-conditioned office space was broken down into a mix of open-plan areas, managerial offices, several larger meeting rooms, a staff kitchen/lunchroom, and bathroom amenities on both levels.
“With a corporate landlord managing the property on behalf of a corporate client, the maintenance schedule of the building has been of a consistently high standard – encompassing such projects as a recent refurbishment of the roof, upgrading the office amenities, and the addition of a new external canopy,” he says.
“These attributes would prove equally attractive for any new tenant, with Argosy openly prepared to discuss the potential of relocation assistance and further office reconfiguration if required,” says Vavasour.
The asking rent for the property is $1.17million plus GST per annum, with outgoings paid by the tenant.
