A large-scale Hawke’s Bay cool store facility that has for over a decade supported some of the country’s top primary producers is up for sale.

The temperature-controlled storage and distribution facility occupies multiple buildings on a more than 1.3-hectare freehold corner site in Hastings’ premier Omahu Road industrial precinct.

It has been fully leased to third-party cold storage and logistics company Everest Kool Property Limited since 2013. The current lease runs through to 2034 with a further five-year right of renewal.

The site promises new owners a high-yield investment with an annual net rental return of $1,175,000 plus outgoings and GST, and market rent reviews every three years.

Part of a group with international operations including Canada and India, Everest offers full storage and third-party logistics solutions for suppliers of meat, dairy, fruit and vegetables.

Located just 20 minutes by road from the Port of Napier, and surrounded by major horticultural developments, its Omahu Road facility offers temperature-controlled space across several separate temperature zones, along with 10,000 bulk pallet positions and 10,000 rack positions.

The freehold land and buildings at 1478 Omahu Road, Twyford, Hastings, are being marketed for sale by Alan Haydock, Damien Bullick and Rollo Vavasour of Bayleys Real Estate.

The property will be sold by way of a tender closing on Tuesday 3 December, unless sold prior.

Haydock said the approximately 10,544 square metres of buildings were underpinned by some 1.33 hectares of land, zoned General Industrial under the Hastings District Plan.

The property has an A-grade Initial Evaluation Procedure seismic rating of 100 percent of new building standard.

“Constructed in the late 1990s, the property encompasses a mix of improvements with conventional cool storage, controlled-atmosphere cool store, cold storage, substantial canopies and administration offices.

Altogether, the premises offer approximately 48,400 cubic metres of temperature-controlled facilities,” Haydock said.

The Omahu Road site is a Ministry for Primary Industries Approved Transitional Facility for meat, seafood and dairy products. This status authorises it to safely receive and unload imported containers that may pose a biosecurity threat, such as those carrying animal and food products, medicines and chemicals. The facility has the capacity to properly segregate ‘at risk’ imports.

Bullick said the property was ideally located in the Omahu industrial area, one of Hastings’ and the Hawke’s Bay’s most desirable hubs of industry.

“Omahu is one of the original industrial and commercial parts of Hastings, having serviced the Hawke’s Bay region for many decades.

Its popularity is underpinned by the local labour force and proximity to Hastings, arterial roading links including State Highway 2/Napier-Hastings Expressway, and the Port of Napier,” said Bullick.

Vavasour said demand for cool store facilities was supported by surrounding activities.

“The Hastings district has a long history of food production and is known as the ‘Fruit Bowl of New Zealand’. The fertile Heretaunga Plains grow an abundance of pip and stone fruit, vegetables and more recently have become the heart of New Zealand’s red wine industry.

“Associated businesses include food processing, agricultural services, rural finance and freight. Hastings is also the major service centre for surrounding pastoral communities while the service industry and tourism are growing rapidly.

“Industrial land in Hawke’s Bay is in high demand and limited supply, making the industrial market the strongest in the regional property sector – with Omahu a preferred location,” Vavasour said.

Click here for more information on the listing.