Livestock Improvement Corporation to sell and leaseback site

Media Release

6.6.2017

Livestock Improvement Corporation to sell and leaseback its Riverlea Road site

Livestock Improvement Corporation’s property at Riverlea Road in Hamilton is up for sale. Livestock Improvement Corporation is seeking a sale and lease back arrangement to provide for the continued operation of the company’s herd testing and diagnostic services at the site.

Livestock Improvement Corporation is one of the oldest farming co-operatives in New Zealand. For more than a century it has been providing services and solutions to the country’s dairy farmers to help them improve their productivity and prosperity.

Livestock Improvement Corporation spokesman Geoff Corbett says the move comes as LIC looks at every part of its business and how it operates and is making changes to improve the performance and profit for its farmers.

“We are looking at how we do things and whether we are making the best of our resources. We are determined to keep delivering on our promise to advance the dairy industry through financial and efficiency improvements,” he said.

“Selling the Riverlea Road site is one way we can release funds which can be better utilised in providing services for farmers.”

Mr Corbett the sale will also allow LIC to be more adaptable to changes in technology in the future.

The site at 140 Riverlea Road, contains two single-level buildings housing administration offices and laboratories. The 3,626 square metre building sits on some 10,079 square metres of industrially-zoned land. The property is being marketed for sale by tender through Bayley’s Hamilton, with tenders closing on 23 June.

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