The nearly four-hectare freehold site lies in the heart of the famed Pukehoke horticultural and agriculture precinct within an area that is seeing rapid population growth and development.

Positioned just outside the Pukekohe urban area, the Stuart Road site contains multiple highly functional buildings encompassing a large warehouse, chillers, packaging and distribution areas. A sizeable portion of unused land offers the potential for further development.

The bulk of the property’s more than 9,300-square metre lettable area is occupied on a nine-year lease by T&G Fresh, a subsidiary of NZX-listed produce growing and apple exporting giant T&G Global. The lease comes with rights of renewal which, if exercised, will extend through to 2042.

For more than 120 years, T&G Fresh has supplied Kiwis with fresh fruit and vegetables. Its New Zealand business grows, packs, markets, sells, distributes and exports fresh produce from its own orchards and farms, and from its 1,200 Kiwi growers.

A smaller tenancy at the site is occupied by Balle Brothers, another grower, packer and marketer of fresh produce that has been cultivating vegetables in the area for over a century.

The property generates a total net rental income of $703,756 plus outgoings and GST per annum with built-in rental growth.

Sunil Bhana of Bayleys Real Estate said the Stuart Road site represented a world-class passive investment in a facility that provides a vital cog in New Zealand’s food production process.

“Expected to benefit from anticipated policy to protect prime horticultural land – thereby limiting further industrial land supply – this property is exceptionally well positioned amid some of the country’s most fertile and productive land, which gives rise to the equivalent of 26 percent of New Zealand’s total vegetable production,” Bhana said.

The freehold land and buildings at 29 Stuart Road, Pukekohe, are being marketed for sale by Bhana and Bayleys colleagues Scott Campbell, Shane Snijder and Steve Rendall.

The property is being offered by way of deadline private treaty closing on Tuesday 6 December, unless it is sold prior.

Bhana said the approximately 9,383-square metre building sat on more than 3.9 hectares of designated Rural Production land.

“The property comprises a number of improvements together with a substantial parcel of additional undeveloped land.

“The more than 5,200-square metre main facility features a purpose-built packhouse and cool-store facility, with two levels of office, a drive-through canopy and warehouse offices. The main warehouse has a stud height of 6.6 metres and two electric roller doors at the rear,” said Bhana.

Snijder said additional buildings included older style storage and workshop facilities and an eight-bedroom residential accommodation block.

“Surrounding the buildings are largely paved yard areas providing drive-around heavy vehicle access, a weighbridge, open and secure fenced storage yard areas and vehicle parking,” said Snijder.

Rendall, who heads Bayleys’ real estate advisory team, said the site’s Rural Production zoning under the Auckland Unitary Plan facilitated the use and development of land for rural production activities, industries and services while maintaining rural character and amenity values.

“The Stuart Road property is extremely well located in the heart of the area’s horticulture and agriculture precinct. Pukekohe has long been regarded as a key produce provider for the country with fertile volcanic soil and a warm, moist climate supporting a large horticultural and dairy farming industry.

“In addition to this, the wider area has enjoyed strong growth over recent years with significant residential, commercial and retail development,” Rendall said.

Click here for more information on the listing.