The head office and manufacturing plant for one of New Zealand’s largest plastic container makers and distributors has been placed on the market for sale.
The expansive warehouse at 225 Kaikorai Valey Road in the Dunedin suburb of Bradford is home to EPI Plastics Ltd which manufacturers food-grade plastic bottles, jerry cans, garden products, jerry can taps, caps, bungs, and plastic toys.
Additionally, the company distributes printed promotional products such as pens, drink bottles, key tags and rings, thermal mugs – freighting its products all around New Zealand. EPI Plastics is also a large provider of custom moulding services – making large and small products from a variety of plastic raw materials.
The 2,372 square metre warehouse part leased to EPI Plastics sits on approximately 1.6 hectares of freehold land – both of which are being marketed for sale by tender through Bayleys Dunedin, with tenders closing at 4pm on August 2.
Bayleys Dunedin salesperson Nick Lucas said the building has two levels – with EPI Plastics on the upper storey. He said the building had been strengthened overall to more than 80 percent of new building standards – with a 100 percent rating on the upper level.
“Set on a slope, both levels enjoy vehicular access. The upper level consists of 1,025 square metres – with a separate 74 square metre workshop and 150 square metres of office space,” Mr Lucas said.
“On the lower level are five units ranging in size from 150 – 336 square metres which can be arranged or joined in several configurations to suit tenant needs.”
EPI plastics is currently on a five year lease running through until January 2023 with two further five-year rights of renewal – generating a net rental of $104,000 plus GST per annum.
Meanwhile the remaining lower level spaces are on individual lease terms ranging from month-to-month to five years, and currently returning $57,790 per annum in rent. Mr Lucas said the lower level had the potential to operate an additional two separate spaces.
Located in one of Dunedin’s light industrial precincts, the Kaikorai Valley Road warehouse is adjacent to a National Storage facility and a Goodman Fielder bakery.
“The property provides a multiple tenanted investment opportunity or has owner- occupier options,” Mr Lucas said.