Former sawmill site on the market for sale through receivership process
A large Rotorua industrial property owned by Tachikawa Forest Products Limited (in receivership) has been placed on the market for sale by Tachikawa’s receivers, Brendon Gibson and Grant Graham of KordaMentha.
Tachikawa operated two sawmills on the property until shortly before it went into receivership in October last year.
The sawmill was built in 1989, and was expanded in 1993 to cope with huge demand for milled timber planking and frames from the Japanese market. The property comprises almost eight hectares of land in Rotorua’s industrial precinct east of the city, and contains more than 18,000 square metres of buildings with access from two roads.
Among the structures in place are a selection of large warehousing and storage units, several office and administration locations, staff amenities, walkways and canopies, multiple workshops, sheds, and two sizeable structures which housed the heavy duty milling operations.
The level site is combined under three titles. Real estate agency Bayleys has been tasked with selling just the land and buildings on the Ngapuna site through a tender process closing on March 27. The sawmill’s plant and machinery is being sold separately. Marketing of the real estate assets is being conducted by Mike Adams of Bayleys Auckland and Mark Slade of Bayleys Rotorua.
“The address is surrounded by several large industrial businesses operating in the logging and agriculture industries in and around the Rotorua Lakes region, and therefore lends itself to the likes of a truck parking yard, engine and equipment maintenance and engineering plant, or industrial storage facility, as well as timber processing,” Mr Adams said.
“The remaining infrastructure is both sizeable and relatively new – allowing for either a ‘turnkey’ occupation or for straightforward reconfiguration into a new use.”
Mr Slade said that while the property is being offered for sale as one lot, it could easily be broken down into the three small portions offering flexibility and optionality for a new owner.
The three titles are individually comprised of 5038 and 7979 square metres, and 6.6 hectares.
All are zoned for industrial B use under the current local district plan, with a move to industrial 1 classification under the proposed district plan.
Tenders for the Ngapuna property and buildings close on March 27.