• Triple net format, long-term lease
• Completed in 2021 utilising a Bondor XFLAM construction type
• Fully optimised cool store design for bin storage and handling
• Established Hawke's Bay industrial location, adjacent Mr Apple’s primary postharvest facility
An industry leading asset with state-of-the-art cooling infrastructure, located in the centre of Hawke's Bay - one of the world's leading apple producing regions. Completed in June 2021, 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 6,996sqm of lettable cool store facility, with an 11-metre stud, supported by 2.15ha (more or less) 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.
