An industrial facility in Mount Maunganui that is home to an established tenant of nearly 20 years is available for purchase.
72 Portside Drive offers buyers the opportunity to acquire a substantial asset that has 4,917sq m of floor area on a 9,643sq m freehold site.
Farmers Industries (New Zealand) Limited, trading as FIL, a wholly owned subsidiary of the DAX-listed GEA Group, has operated from the facility since 2007 and recently began a nine-year lease renewal that runs until 2034.
The fully net lease provides $862,932 plus GST per annum, and there are two further rights of renewal of six years each, leading to a final expiry in 2046. There are yearly CPI reviews and three-yearly market reviews, delivering future rental growth for the new owner. The tenant pays 100 per cent of the outgoings.
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The property’s favourable location means it is close to the Port of Tauranga, New Zealand’s largest export port, and the key freight routes of the Bay of Plenty.
Colliers Brokers Brad Johnston, Rob Schoeser, and Rachel Emerson have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 2 December, unless sold prior.
The purpose-built facility was constructed in 2007 and the eco-effective design of the original development contributed to FIL winning Sustainable Business of the Year at the 2008 Bay of Plenty Sustainable Business Awards.
The facility has three main components: a two-level administration block that includes a ground floor reception and amenities area, boardroom, staff facilities, and laboratories on the first floor; a dedicated chemical processing area with specialist industrial ventilation; and a high stud warehouse with bulk storage space.
Separate covered load-in and load-out canopies give sheltered truck loading and an efficient one-way flow of goods through the building.
The site has full drive-around access with separate entry and exit points and ample yard space. There are 26 on-site car parks.
Johnston, Director of Industrial at Colliers, says the property gives prospective purchasers the opportunity to acquire a stake in a tightly held industrial location.
“With a long-term lease in place to the existing occupant, investors will recognise the enduring fundamentals attached to the offering and the future rental growth mechanisms will hold strong appeal,” Johnston says.
“The GEA Group is a member of Germany’s DAX index with revenue of 5.5 billion euros in 2025.”
Schoeser, Commercial and Industrial Broker at Colliers Tauranga, says this purchasing opportunity warrants serious consideration among investors given the strength of the international tenant covenant.
“Products from the Mount Maunganui facility are supplied to farmers throughout New Zealand and overseas. FIL’s products are exported to 11 countries, where the business has built a reputation with dairy farmers globally,” Schoeser says.
“GEA ownership allows New Zealand-made products such as FIL to be marketed in other countries, and the United Kingdom is a current focus.”
The Port of Tauranga and the airport can be reached in approximately eight minutes from the subject property, supporting freight and shipping requirements.
Emerson, Industrial Sales Broker at Colliers Tauranga, says the facility sits at the centre of the freight, logistics, and trade activity that drives the Bay of Plenty economy.
“Portside Drive is well connected to all of the Mount’s arterial routes, providing efficient access to State Highway 2, the Tauranga Eastern Link, and the wider region,” Emerson says.
“The Mount’s industrial hub is an area that is characterised by low vacancy rates, and industrial land remains scarce in this area, impacting supply. This property gives buyers the chance to secure a significant asset in a proven location.”
- Supplied by Colliers
