With a new 15-year, triple-net lease to one of New Zealand’s preeminent food distribution companies, this recently completed state-of-the-art warehouse/ production/cool-store facility is strategically located in the tightly held Upper Hutt area and serves as the key distribution point for Service Foods from Wellington all the way north up to Whanganui and Palmerston North. An investment offering rarely seen in the New Zealand market, this is being sold to free up funds for further business acquisitions as well as new city expansion and is sure to attract astute investors from across the country.
Efficiency was top of mind with their site selection, and the three frontages allowed for their required multiple truck egress points, significant yard areas for goods loading/unloading, and separately accessed staff and customer car parking. The circa 7,147sqm sprinklered facility itself was also designed to the latest in distribution standards, including a post‑tension‑floored dry‑goods warehouse rising to 12m at the knee, glycol slab freezer, chilled storage areas, and processing areas which distribute via the 10 dock‑levellers and sealed dispatch doors. The impressive reception, bright office spaces, and boardroom are complemented by excellent staff amenities plus a demonstration kitchen for training and client engagement.
The facility features a front yard capable of accommodating New Zealand’s largest trucks, incorporates state-of-the-art CO2 refrigeration technology, includes a dry goods store fitted with glycol piping to allow future conversion into a freezer, and has refrigeration panels integrated into the warehouse superstructure to provide long-term flexibility and optionality.
The building site coverage is just over 30% across the freehold parcel of land of 2.1347ha.
Given the age and quality of the premises, along with Service Foods’ requirement for ongoing high standards, they have committed to sell this on a ‘triple‑net’ lease structure during the first term of the lease, with the tenant being responsible for the standard tenant outgoings, as well as the capital upkeep of the improvements, plant, and chattels.
This ‘triple‑net’ lease, combined with the structured rental growth, allows you to forecast your returns well into the future.
For sale by by Deadline Private Treaty closing 4pm, Wednesday 15 April 2026 (unless sold prior).
*Boundary lines are indicative only.
Features:
- New 15 year, triple-net lease
- Significant national tenant
- Under-utilised, freehold site in tightly-held location
- State-of-the-art warehouse, production and cool-storage facility
- Constructed by Calder Stewart and completed late 2023
- Valuation set rental with strong fixed growth
More information: https://www.colliers.co.nz/p-NZL67038958
