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Refrigeration provider’s Tauranga site offers cool investment proposition

The Tauranga property housing a leading North Island provider of commercial refrigeration and air-conditioning solutions is set to go up for auction.

The modern freehold warehouse-and-office premises for sale sit at a road frontage corner site near key transport routes in South Tauranga’s Roxanne Place Business Park.

The site is fully leased to Excel Refrigeration & Air Conditioning (Tauranga) Limited, generating an annual net rental return of $120,000 plus all outgoings and GST.

Excel is a specialist provider of commercial and industrial refrigeration systems and support. It has extensive experience servicing the dairy sector, as well as the cold storage, food, wine and meat industries. Its custom-made systems range from small bar chillers and icemakers to cooling towers, packaged chillers, and supermarket fridges and freezers.

Excel also provides innovative air-conditioning and ventilation solutions tailored to the needs of commercial premises.

Established in 2005, the New Zealand owned and operated business has grown into a highly skilled team of over 220 staff servicing the North Island from 11 offices – supported by a network of local and international suppliers and subcontractors.

Excel Refrigeration & Air Conditioning occupies the nearly 1,800-square metre Tauranga site on a lease which runs through to 2028 with further rights of renewal. The lease agreement incorporates rent reviews every two years, alternating between market and CPI reviews.

The freehold land and building at 2 Roxanne Place, Poike, Tauranga, are being offered for sale through Rory Brown, Christy Arundel and Lloyd Davidson of Bayleys Tauranga.

The property will go under the hammer at auction on Wednesday 28 June, unless it is sold earlier.

Brown said the property consisted of an approximately 898-square metre building on some 1,794 square metres of freehold land, zoned Commercial 8A under the Tauranga City Plan.

“This modern, well-appointed standalone property is sure to pique the interest of investors looking to own a commanding building with an established income stream from a high-quality tenant. The substantial freehold site and strategic location in fast-growing Tauranga will further heighten its appeal,” said Brown.

Constructed in 2006, the property features a versatile high-stud, clear-span warehouse with dual roller-door access, along with air-conditioned offices and full kitchen facilities.

A large, partly fenced and sealed yard provides for easy access and 27 onsite car parks for the tenant’s staff and customers.

Arundel said the property was positioned for maximum exposure on a flat site with road frontage to Roxanne Place and Poike Road.

“The site is zoned commercial, allowing for a wide range of business activities, and is close to industrial and residential areas.

“The convenience of this location is underlined by the presence of major nearby established commercial and industrial businesses and it is minutes from the Maleme Street industrial area and a short drive from the new Tauriko Industrial Business Park,” said Arundel.

“Ease of access makes this property a standout in regard to location. Positioned close to State Highway 29 and Oropi Road, it enjoys easy links to main arterial routes, ensuring excellent access throughout the city, to the country’s largest export terminal at the Port of Tauranga, and across the booming ‘Golden Triangle’ between Tauranga, Hamilton and Auckland,” Davidson said.

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