Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Seeka acquires a new head office site

Seeka acquires a new head office site on land currently occupied by Kiwi360

Te Puke, December 18 - Seeka Kiwifruit Industries Ltd [NZX:SEK] has announced a series of property transactions.

These include the acquisition of land currently leased by Te Puke kiwifruit tour operator Kiwi360, which will be used as the site of Seeka’s new corporate head office, and the sale and sublease of properties no longer meeting the company’s requirements.

Seeka has confirmed the purchase of a 7.44 hectare property and a 5.44 hectare kiwifruit orchard adjacent to the property, with the purchase to be completed on 20 January 2016. The 7.44 hectare property is leased to Green Circle Limited, the Kiwi360 business operator, who will stay on site until 20 April, 2016.

The 5.44 hectare orchard is directly across the road from Seeka’s Transpack Packhouse in Young Road, Maketu corner, and is adjacent to its Transcool coolstore, and KKP Packhouse.
The company advises that it has also reached an unconditional agreement to sell its New World building in Te Puke, across the road from its current head office. This property will settle in February 2016 and was sold at its 2015 purchase price. The company had originally intended to relocate its head office to the New World building.

Seeka Chief Executive Michael Franks said he was delighted with the purchase. The properties were offered to Seeka on the basis of a friendly deal that suited the Kiwi360 business, which intended to relocate, and an owner that was looking to sell.
A deal had been struck that allowed Kiwi360 to continue with its own relocation plan, and importantly would enable it to meet its cruise ship commitments in the current year.

Mr Franks said Seeka planned to relocate its head office to the Kiwi360 site in the middle of 2016. Local Te Puke Architects Page Henderson have been commissioned to help with planning the conversion from tourism operation to Seeka’s kiwifruit headquarters.
“Seeka’s commitment to the area remains strong and the linkage between the site and kiwifruit has been preserved,” said Mr Franks “The deal is a good one for everyone concerned.”

Seeka has also sublet two vacant properties in Totara Street, Mount Maunganui. These properties, which are adjacent to its Huka Pack sites, were on long term leases as part of Seeka’s purchase of Huka Pack in 2010 from Te Awanui Huka Pack. From 2016, they have been subleased for 14 years to an independent third party. The annual sublease value will fully offset Seeka’s head lease cost.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>

Statistics: Annual Wage Inflation Rises To 3.4 Percent
Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, while average ordinary time hourly earnings rose 6.4 percent, Stats NZ said today... More>>

ALSO:



Heartland: Retirees Facing Pressure From Higher Cost Of Living And Increasing Debt In Retirement

Heartland has seen a significant increase in Reverse Mortgages being used to repay debt. Among the most affected by the increasing living costs are retirees, many of whom are trying to get by on NZ Super alone... More>>


APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>


Financial Markets Authority: Survey Sheds Light On New Zealanders’ Experiences With Financial Sector
Most New Zealanders are confident in their ability to make financial decisions, but only one-fifth say they are in a secure financial position... More>>