1460 Omahu Road, Hastings, Hawke’s Bay
A quality industrial-zoned cool store and packhouse facility, with surplus land for future development
Located in Hastings, the property is a quality industrial zoned cool store and packhouse facility. The Hawke’s Bay economy has been a strong and resilient performer, underpinned by the primary industry. Cool store assets remain in high demand, are in short supply and subject to high replacement costs.
The property is occupied by Crasborn Fresh Harvest on a 20-year triple-net lease. The landlord friendly triple-net lease structure means that in addition to meeting the standard repair and maintenance costs, the tenant will be liable for all capital expenditure during the term of their occupation, insulating the Fund from both operating and capital costs.
Established in New Zealand in 1995, Crasborn Fresh Harvest has cultivated a reputation as one of the region’s premier fresh produce exporters and marketers.
Form of lease
The above stats are as at 31 March 2023