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$11 Million Design Build For Refrigeration Centre

$11 Million Design Build For Nz's Biggest Refrigeration Distribution Centre

Eskimo Logistics Group today signed a $11 million, 15 year lease with AMP Asset Management for the design and build of New Zealand's largest refrigerated distribution centre.

Five months ago Eskimo Logistics Group bought Coolstores (NZ) from Sanford. This site backs on to AMP Asset Management's Paisley Place Industrial Park in Mt Wellington, allowing the new building to connect to the current Coolstores (NZ) building giving a combined 111,000 cubic metres of refrigerated warehouse space.

"The Paisley Place design and build will provide Eskimo with the country's most efficient purpose-built refrigerated distribution hub," said Eskimo managing director, Jeremy Silva.

The new facility will be located midway between the Port of Auckland and Auckland Airport.

"The 15 year lease gives Eskimo strong security for the future, and the custom designed extension, which uses the latest international technology, integrates perfectly with the existing building. It also leaves open the opportunity for additional expansion," Mr Silva said.

Head of property for AMP Asset Management James Darkins said he was delighted to have secured Eskimo as the first tenants for Paisley Place with only two sites now left for development.

"Paisley Place is further evidence of our belief in the Auckland property market. Together with the refurbishment of LynnMall and the construction of Botany Downs town centre, Paisley Place shows our passion for Auckland property," Mr Darkins said.

"The new refrigerated distribution centre will cost around $11 million to build and should be completed in November. Because Paisley Place focuses on design-builds, the resultant facility will provide Eskimo with the best possible use of space," Mr Darkins said.

Eskimo Logistics Group is New Zealand's largest refrigerated distribution centre and international air freight forwarding operator. Three months ago it acquired the New Zealand perishables operations of Circle International, an international freight forwarding company. AMP Asset Management is New Zealand's largest private property investment company managing $1.4 billion of property.

Ends.

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