Mount Maunganui Cold Storage Facility for Sale Sponsored Feature

A cold storage facility at New Zealand’s largest port in Mt Maunganui, Tauranga is up for sale with the world’s biggest temperature-controlled warehousing and logistics company Lineage, as its tenant.

Henry Thompson, of marketing agent Whillans Realty Group is selling the property by tender, with tenders closing June 5.

The 5,958 square metre facility at 7 and 13 Te Maire Street, Mount Maunganui sits on a large 1.62 hectare freehold industrial site less than five minutes from Tauranga’s port.

The tenant, Cold Storage Nelson Limited is wholly owned by Lineage Logistics Holdings. Lineage accounts for 12% of global cool storage capacity measured in cubic feet, and operates facilities in the US, Canada, Australia, New Zealand, UK and Continental Europe.

Owned by a New Zealand investor, the Mt Maunganui property is currently returning a net annual income of $1,185,721, with a market rent review due in July this year and annual CPI rental growth. CBRE Tauranga, have assessed the current market rental at $1,344,018.

Thompson says that as New Zealand’s busiest port, Mt Maunganui handles 38% of the nation’s container trade making it the country’s largest port by volume.

The cold storage facility is close to the port, and has excellent access to State Highway 2. It is directly adjacent to Mainfreight’s logistics terminal and a Seeka Pioneers cool store and only three minutes drive from Tauranga Airport.

“Mt Maunganui itself is Tauranga’s most sought-after industrial precinct. It commands the region’s highest rental rates with yields and land values on par with Auckland’s prime industrial precincts,” he says

And as a geographically constrained region with a limited industrial land supply, values are likely to hold into the future. He says this will likely be underpinned by Tauranga’s GDP growth which averaged 4.8%pa over the 10 years to 2024.

Population growth in Tauranga averaged 2.1%pa over the 5 years to 2024.

The Port of Tauranga is also looking to future growth, having applied for resource consent to extend its operations at Sulphur Point, Thompson adds.

This will expand capacity from the current 1.2 million TEUs (twenty-foot equivalent unit containers) per annum to approximately 2 million TEUs per annum.

Thompson says cold storage facilities are a recession resilient sector for investors because they are less susceptible to economic downturns.

“Cold storage is a critical component of the global food supply chain and New Zealand’s frozen food exports into Asia, in particular, are only likely to grow. Notably, the tenant holds a direct export license to China for the property.”

To support future expansion and the demand for cold storage facilities, 7 and 13 Te Maire Street has been proactively future-proofed. In June 2024, resource consent was granted for a third cold store, enabling 3,750m² of additional cold storage capacity onsite. Building consent for the expansion was approved in October 2024.

Click here to find out more and contact Whillans Realty Group.