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Property investors set to load up global freight firm's provincial base to their portfolio

Contributor:
Fuseworks Media
Fuseworks Media

The land and buildings housing the provincial branch of New Zealand’s largest freight-moving trucking firm been placed on the market for sale.

The premises at 14 Millar Place in the of Coromandel township of Kopu is the regional base for global freight-forwarding and logistics firm Mainfreight.

Listed on the New Zealand stock exchange and with branches across Australia, China, Europe, the United States, and New Zealand, Mainfreight has 25 warehouses - of which the Kopu premises is one - across Australasia, utilising more than 200,000 square metres of storage space.

Originally founded in 1978 on delivering parcels and freight throughout New Zealand, Mainfreight is now a broadly-operating logistics and freight movement firm offering such services as bespoke stock warehousing, inventory and supply chain management, and the specialist field of hazardous substances storage.

Mainfreight’s Kopu site encompasses 1,357 square metre of high-stud warehouse building and adjoining office space sitting on some 2,449 square metres of freehold land zoned industrial 7A. The vast majority of the property’s yard is sealed, with staff vehicle parking around the periphery to ensure minimal interference with smooth truck movements

The property has now been placed on the market for sale at auction on March 12 through Bayleys Hamilton. Salespeople Josh Smith and Daniel Keane and said the premises was purpose-built for Mainfreight in 2004 - factoring in the company’s considerable daily freight transfer levels and the high frequency of daily vehicle movements.

"The warehousing distribution area and attached offices comprise 960 square metres of the building space, while the loading canopy comprises nearly 400 square metres of building infrastructure," Mr Smith said. "Mainfreight’s heavy vehicles are able to drive under and through the loading canopy, efficiently load up or unload pallets and parcels with full protection from the elements of wind and rain, and drive out again in one smooth flow-route."

Constructed in the early to mid-2000s, and holding an A+ seismic rating equating to 100 percent of new building standards, the single-storey steel-framed iron cladding warehouse is located in Kopu’s logistics and big-box retail precinct - surrounded by neighbouring tenancies such as Placemakers, Farmsource, ITM and Carters.

Mainfreight is on a lease running through to 2024 with one further one-year right of renewal, generating annual rental of $90,902 plus GST and operating expenses.

"The Kopu warehouse is strategically located - linking up Mainfreight’s Auckland and Bay of Plenty operations, as well as providing the axis point for freight movements up along both coasts of the Coromandel Peninsula and out into the Hauraki Plains," Mr Smith said.

"With Tauranga and Auckland being two of the pivotal points within the proverbial ‘Golden Triangle’ economic growth zone, Mainfreight’s freight volumes between those two centres alone has grown substantially over the past seven years - which in turn has seen an ever increasing utilisiation of the Kopu depot.

"With greenfield sections on two boundaries of the Millar Place property, there is the potential for the existing Mainfreight centre to be future-proof expanded to handle the company’s growth projections."

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