Cedenco Foods NZ Ltd wish to sell and lease back its modern storage facility located in Innes Street Gisborne.

The sale will be subject to a long-term lease back to Cedenco with a proposed annual rental of $359,790 plus gst per annum.

The property is adjacent to the main factory and is on a separate title comprising 8034 square metres fronting Innes Street. The dry store comprises 1,664 square metres, adjacent is the chiller and freezer stores comprising 1,302 square metres plus the office area and a substantial canopy area of 729 square metres.

The complex was completed in 2005 and is built from a reinforced concrete slab with steel framing and a mix of concrete block and long mild steel cladding. The freezer/chiller areas are constructed from Bondor Refrigeration wall and roof panels.

The building is in excellent condition and will be a great asset for an astute investor looking to secure a long-term income stream.