14 Groome Place, Whakatu, Hastings, Hawke's Bay

14 Groome Place, Whakatu, Hastings, Hawke's Bay Long term security with triple net, 20-year lease

An industry leading asset with state-of-the-art cooling infrastructure, located in the centre of Hawkes Bay - one of the worlds leading apple producing regions. Only 18-months since completion, build quality and asset condition is superb. Tenant covenant is equally impressive, with a new 20-year lease from settlement date, to apple industry leader Mr Apple Limited, owned by listed agribusiness and logistics company - Scales Corporation.

Ten separate cool stores, five dedicated loading pods, smart fresh facilities, plant rooms and a high-capacity refrigeration system comprise some 6,925sqm of lettable cool store facility, with an 11-metre stud, supported by 2.15ha of sealed yard bin storage and operations. The triple-net lease terms (including all plant and equipment) will attract passive capital in the world leading food sector, further solidified by annual 2.5% rental growth and built-in market rent reviews.