A strategically located horticultural asset near Napier that is home to an established tenant on a long-term lease is available for purchase.
Located on Thurley Place in Bay View, the 11.77ha property benefits from its seaside positioning as it creates a unique microclimate.
The property supports an industry-leading berry production business with proven markets and consistent demand.
The berry production enables a long season with high volumes and quality of fruit that is harvested from early spring through to late autumn.
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The current production includes strawberries, raspberries, and blackberries, optimising seasonal yield and income.
There is extensive water security at the facility including a large council water consent, along with access to a bore with an easement from the adjoining block. There is also water storage infrastructure in place.
The majority of the property is covered by tunnel growing houses and supported by a vast internal track network for efficient management and harvesting.
On-site improvements include a substantial shed that provides a workshop, storage, and an advanced fertigation system that is fully reticulated to the growing houses. A separate implement shed is well located for machinery storage.
With Napier Airport and the CBD a short drive away, the property’s central location means it enjoys seamless connectivity to nearby amenities and further afield. It also has excellent accessibility that provides convenience for vehicle movements.
Hadley Brown, Director of Rural at Colliers Hawke’s Bay, has been exclusively appointed to market the property for sale via tender plus GST, if any, closing at 2pm on Thursday 26 March.
Brown says this is an appealing purchasing opportunity that gives buyers the chance to secure a stake in the sought-after Hawke’s Bay horticulture market through the acquisition of a high-performing asset.
“A feature of the investment is its unique water supply. A large water consent is held with Napier City Council to supply quality irrigation water from the town supply system, ensuring the existing business is able to operate smoothly,” Brown says.
“The existing 14-year lease agreement with the lessee runs until 30 November 2035, providing a strong tenant covenant from an established business that continues to trade well. The lease is CPI adjusted providing potential built-in rental growth that will catch the eye of investors. The current net annual rental income is $110,00 plus GST.”
“Investors with a long-term view may also consider the appeal of landbanking the property and enjoying the existing income from the current tenant before repositioning it in the future.”
Bay View is a coastal settlement that sits just north of Napier, known for its relaxed seaside character, community feel, and accessibility. Napier CBD can be reached in approximately 15 minutes from the subject location.
The wider Hawke’s Bay area is considered one of the most productive horticultural areas in New Zealand through its fertile soils and favourable climate. The region is known for its high-density fruit exports and viticulture.
Meanwhile, an option exists to purchase the adjoining lifestyle property, which includes a substantial four-bedroom homestead and a modern three-bedroom cottage on a 5.3ha landholding.
The property provides access to Main North Road and has a secure 150sq m workshop and multi-purpose shed with a concrete apron and three roller doors.
- Supplied by Colliers
