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Horticulture supplier’s premises for sale offer quality pickings for investors

Tags: Commercial

The brand-new industrial premises housing a major national supplier to New Zealand’s horticulture industry have been placed on the market for sale.


The single-storey building on a freehold site at 32 Saleyards Road, Matawhero, lies in a rural and industrial area about 10 kilometres west of central Gisborne. It is fully leased to national horticultural supply company Horticentre Limited.

Formerly known as Veg Gro Supplies, the company was established 40 years ago by the Auckland Vegetable Growers’ Society. The Horticentre group has since grown to employ more than 70 people, with 11 stores across the country and a merchant reseller division based in Christchurch.

The company’s products and services include fertilisers, pest and disease control, irrigation equipment, machinery and consumables – and its Matawhero base serves a large horticultural client catchment across the Gisborne region.

Its tenancy at the Saleyards Road property generates annual net rental income of $84,900 plus outgoings and GST per annum, with built-in two-yearly reviews to the consumer price index. The current lease runs through to 2028, with two further three-year rights of renewal.

The freehold land and buildings at 32 Saleyards Road, Matawhero, are now being marketed for sale by tender closing on 11 March, through Bayleys Gisborne.

Salesperson Mike Florance said the industrial building for sale had a floor area of some 570 square metres, on a flat site of approximately 3,745 square metres.

“This is an immaculately presented warehouse, office, showroom and yard. The building is newly constructed and has an Initial Evaluation Procedure seismic rating of 100 percent of new building standard,” said Florance.

“The office and showroom offer a modern and highly presentable frontage to customers and clients. This adjoins a quality clear-span, high stud warehouse area which is conveniently accessed via three high roller doors.

“The building is positioned centrally on the site. A dedicated driveway offers easy access from Saleyards Road, while the generous yard area provides ample space for parking, vehicle movements and the loading and unloading of goods,” said Florance.

“The site for sale is located just off State Highway 2, providing it with good road connections within and through the region, and it is a 10-minute drive from Gisborne Airport.”

The property is zoned Rural Industrial A under Gisborne District Council’s Tairāwhiti Resource Management Plan.

Florance said the surrounding area was a stronghold of the region’s renowned horticulture and viticulture industries.

“Neighbouring properties include a number of vineyards, orchards and large national suppliers such as PGG Wrightson which has a seed drying plant immediately next to the property.

“With a national essential service industry tenant in place on a long lease in a brand-new building, the property at 32 Saleyards Road is sure to attract strong interest from buyers seeking a high-quality industrial investment property,” Florance said.

Click here for more information on the listing.

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