Zespri headquarters site for sale

Published: Wed 23 Sep 2015 12:05 PM
Zespri headquarters site with substantial commercial development opportunity for sale
One of the last blocks of premium commercial land in central Mount Maunganui, encompassing the global head offices of Zespri International and a leased portion of land from a public park, has been placed on the market for sale.
Located in the heart of beachside Mount Maunganui at 384-410 Maunganui Road, the 8100sqm property is also bound by Miro and Matai Streets. The immediate area features housing and commercial buildings, with the Mt Maunganui shopping district and beach nearby. Maunganui Road carries approximately 11,000 vehicles per day.
The site is part of a larger commercial block of 1.160 hectares owned by Tauranga City Council. Following a public submissions process, the Zespri site has been placed on the market for sale and is being jointly marketed by Bayleys Tauranga salesperson Brendon Bradley and Colliers International Tauranga salespeople Simon Clark and Duncan Woodhouse by deadline private treaty closing on October 1.
The block of land for sale is currently leased to the head offices of Zespri, comprising a 2540sqm building with extensive car parking. The adjoining land is occupied by the Mount Library and Mount Plunket Preschool, which is not included in the sale. The Little Big Markets are the other user of the southern grassed area on the site. These markets take place monthly, as part of a venue hire agreement with the council.
The property is being offered for sale of the freehold or leasehold with a prepaid rental for a 99 year lease, providing flexible buying options. There are several options for the location of the public park: Northern Park – under this option the park is relocated to the northern end of the block giving the purchaser free use of the northern park area and receiving all income from Zespri until the end of their lease. Southern Park - The existing Southern Park area remains in its existing location.
Mr Bradley said the sale presented a potential buyer with the opportunity to take over a significant, high-profile commercial property with an existing tenant and flexible development options.
“This is an outstanding prospect to secure and plan a comprehensive redevelopment of this 8100sqm commercially-zone business site from the expiry of Zespri in three to four years’ time,” he said.
“There is limited availability of commercial business-zoned land in Mount Maunganui, so this site is likely to be sought after by buyers and investors.”
Given the commercial zoning of the entire site under the city plan, a wide range of commercial and residential uses are permitted, as well as buildings of up to a height of 12m - three or four storeys.
The size of the site lends itself to a number of future development options including creating a destination hub for multiple uses such as retail, office and high density residential development or a combination of these, said Mr Bradley.
Zespri relocated their headquarters from Auckland to the site in 2002 and substantially upgraded and extended the existing building, said Simon Clark. The company’s original lease was due to expire in November 2017, but has been extended for a further two years November 2019, with the option to give 12 months notice from November 2017 for expiry in November 2018.
The Zespri office is a single-level building with an enclosed courtyard. After growing to capacity in this existing building, in January 2015 Zespri signed a two-year lease to occupy an additional 1281sqm area of land south of their existing building for a temporary prefabricated building of 648sqm across two units, connected by 320sqm of decking. There is extensive car parking capacity onsite. The total annual lease paid by Zespri is $525,000 + GST plus outgoings.
Zespri is one of New Zealand’s most successful horticulture marketing companies, with reported sales revenues of $1.57 billion in the 2014/15 year.
Mr Clark said the flexibility of the property’s size, location and potential uses due to its commercial business zoning presented a significant opportunity to an astute investor or developer.
Bayleys Realty Group
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
Contact Bayley's Real Estate
09 375 6868
Media Contact:

Next in Business, Science, and Tech

Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour
By: Statistics New Zealand
Election Boosts October Job Numbers
By: Statistics New Zealand
New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries
By: New Zealand Government
Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd
By: Discovery
Big Year Underway At Albatross Colony
By: Department of Conservation
ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing
Births And Deaths: Year Ended September 2020
By: Statistics New Zealand
NZ Economy Holding Up Well Amongst The Developed World, Forecast To Finish The Year Down 3% On 2019
Govt Goes “hard And Early” On RSE Workers
By: ACT New Zealand
Bringing RSE Workers Back The Right Move
By: Business NZ
Cream Of The Crop Will Get To Market
By: Auckland Business Chamber
Horticulture Industry Appreciates Government’s Decision On RSE Workers
By: Horticulture NZ
Skyrocketing house prices: Economist says Reserve Bank, govt, trying to address pandemic
NZ Govt Considers Making House Prices Part Of RBNZ Mandate
By: XE Money Transfer
Māori Population Estimates: At 30 June 2020
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media