Commercial -
Food Factory premises for sale offer mouth-watering investment
A near new warehouse-and-office building in the popular Stoke industrial precinct, between Nelson and Richmond has come to market.
The site is fully let with the downstairs occupants being the Food Factory, founded by local personality Pic Picot. The charitable trust offers collaborative food-grade workspaces and warehouse space.
Modern upstairs offices, bathed in natural light and enjoying winter views to snow-capped mountain ranges are leased to managed database IT provider DataSentinel.
The two tenancies generate a combined annual net rental return of $131,903 plus outgoings and GST.
The Food Factory occupies the entire 555-square-metre ground floor of the Stoke building, including a high-stud warehouse plus office. The long-term tenant has invested in a significant fit out for their purposes including a showroom, training room facilities and food grade commercial kitchens and chillers.
It pays an annual net rent of $90,834 plus outgoings and GST. The current lease runs through to 2029 with two further five-year rights of renewal.
A first-floor office of approximately 165 square metres houses the headquarters of DataSentinel, a managed database support provider and Gold Microsoft partner. The company pays $41,069 plus outgoings and GST per annum on a lease that extends to 2026 with two further three-year rights of renewal.
Both lease agreements include annual CPI rent reviews, replaced by market reviews every three years.
The freehold land and building at 11 Findlay Place, Stoke, Nelson, are being offered for sale through Bayleys Nelson director Paul Vining.
The property will be sold by deadline sale closing on Tuesday 27 June, unless it is sold prior.
Vining said the property consisted of an approximately 720-square-metre building on some 1,184 square metres of industrial-zoned land with 14 car parks.
“Built in 2019 within the new industrial precinct in Stoke’s Findlay Place, this versatile building provides excellent features suitable for a variety of industrial occupiers.
“The approximately 410-square-metre clear span warehouse offers a generous six-metre internal height, with access via one roller door and provisions for three more. This is complemented by some 310 square metres of quality offices over two levels,” said Vining.
The property is configured for two self-contained tenancies, each with separate secure access and amenities.
“This modern, low-maintenance building presents an attractive frontage to Findlay Place with good signage opportunities,” Vining said.
The site provides good access and turning room for trucks and plenty of off-street parking for the tenants and their clients.
Vining said Stoke was a highly desirable industrial location, thanks to its central position between Nelson and Richmond in the thriving ‘top-of-the-South’ region, with easy access to State Highway 6 around 450 metres away.
“The area’s pulling power is demonstrated by the presence of big-name occupiers such as NZ Post, Bunnings, PlaceMakers and Coman Construction, along with Pics Peanut Butter World. It is also home to several major food-related industries including apple processing and packing, and fruit cool stores.
“Industrial property is an in-demand investment here. With the industrial precinct well bounded by the Stoke bypass and residential-zoned suburbs, room for further industrial development is limited. As a result, near new industrial assets like the Findlay Place property are very seldom available,” said Vining.
Contact us
