CBRE Appointed To Handle Ingham Sale And Leaseback
P R E S S R E L E A S E
FOR IMMEDIATE RELEASE: 10 March 2014
CBRE Appointed To Handle Sale And Leaseback of Ingham Property Portfolio
Sydney, 10 March 2014 – Global buyer interest is anticipated in the upcoming sale and leaseback, of two significant property portfolios belonging to Ingham Enterprises – Australasia’s largest integrated poultry company.
CBRE has secured the exclusive mandate to manage the sale and leaseback campaign on behalf of Ingham.
Mr Kevin McBain – Ingham’s CEO commented, “The sale of the two property portfolios will release capital and provide us with an opportunity to invest in business growth and improvement initiatives across our poultry and stockfeed operations in Australia and New Zealand.”
CBRE’s Danny Thomas and Mark Granter will manage the sale process, which involves circa 53 high quality industrial and agricultural properties across Australia and New Zealand.
The size and scope of the two portfolios and the strength of the lease covenant to Ingham is expected to drive considerable local and offshore buyer interest in the campaign.
“The properties are strategically located across Australia and the North Island in New Zealand and are, with one exception, being offered on lease terms of 20 years with five further 10 year options,” Mr Granter said.
The properties have been divided on a specialisation basis into two portfolios with Portfolio 1-Industrial including processing plants, feedmills and hatcheries and Portfolio 2-Agricultural/Rural comprising of breeder farms.
Mr Thomas said, “The sale represents a once in a generation opportunity to acquire such an extensive and strategic group of properties. A key attraction for buyers would be the structure of the lease agreements to Ingham, one of the region’s most respected poultry companies.”
The majority of the properties are located within close proximity to major urban centres, with a number located within well-established and highly regarded industrial locations.
“Ingham is, as always, committed to growing the business and the nature of the sale and leaseback agreements enables us to continue to offer our customers the highest levels of quality and service. The day-to-day operations will continue to run as usual,” said Mr McBain.
Expressions of Interest (EOI) close on Tuesday 15th April, 2014.