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

 

Land and buildings for sale in emerging food research hub


A substantial block of land and buildings in the heart of what is being developed as New Zealand’s foremost agricultural plant and food research hub have been placed on the market for sale.

The 1.87-hectare block is located at the heart of a future national Food Research & Development hub “FoodHQ”. This includes facilities being jointly developed in Palmerston North by Crown research agency AgResearch and Massey University, with dairy production and marketing giant Fonterra as an anchor corporate neighbor in the immediate location.

Among the 5,500 square metres of building infrastructure on the site for sale at Dairy Farm Road is the former National Controlled Environment Laboratories, glasshouses with potting sheds, various implement and equipment storage sheds and a records storage block.

Construction of the buildings dates back to the 1960s, with some built in the 1970s.
Most of the buildings are now obsolete - making redevelopment of the site likely for tenants to benefit from the unique Food HQ location.

Many of the buildings on the Dairy Farm Road block were previously occupied by fellow Crown research agency Plant & Food Research - the New Zealand-based science entity providing research and development in the fruit, vegetable, crop and food product sectors.

Fonterra leases the implement and equipment storage shed on a month-to-month basis. while two major telecommunications firms lease space for their cell phone towers with leases running through to 2031 and 2037. Total rental from the site is approximately $33,000 p.a. um.
Plant & Food Research consolidated into its newer facilities immediately adjacent in 2013. The land within the Dairy Farm Road property up for sale, is zoned under the highly-specialised Institutional category in Palmerston North City Council’s plan.
Now the freehold property at Dairy Farm Road has been placed on the market for sale by tender through Bayleys Palmerston North, with tenders closing at 4pm on June 20. The property features in Bayleys’ latest Total Property portfolio magazine.

Bayleys Palmerston North salesperson Karl Cameron said that with the core of the FoodHQ complex now expanding, the Dairy Farm Road site was ideal for a new tenant / owner to ‘piggy-back’ off the specialist tenancies occupying space in the agricultural, horticultural and pastoral research hub.

“The long-term vision of FoodHQ is to develop a fully-integrated ‘supercampus’ - with participants including Fonterra’s research centre, two Crown Research Institutes, Massey University, and food science research entity The Riddet Institute,” Mr Cameron said.

“When completed, the ‘supercampus’ will give local and international customers of New Zealand food and agricultural products access to the what will be world-class food-focused innovation, product research and development, technology, and commercial expertise… all built on multiple pillars of academic research.

“The synergy running through all entities currently operating within FoodHQ is to add value to New Zealand’s food chain – from the seeds and plants we are growing, or the animals which feed on what comes out of the ground, through to how primary produce is harvested, handled, processed and delivered.”

Mr Cameron said that with income-generating leases in place, any new owner of Dairy Farm Road property would have a small holding income in place while plans were submitted to Palmerston North City Council for the construction of new purpose-built premises.

“It’s fair to say that most of the buildings within the Dairy Farm Road block for sale are well past their useful use-by dates, and have low seismic ( NBS ) ratings. The most likely and efficient future for this site is to undergo a total redevelopment with purpose-built design and build buildings that would benefit from the special location and add value to the super campus ideal,” he said.

“Tenancy opportunities for any resulting new building configuration on the Dairy Farm Road block could stretch far beyond companies simply involved in food production research. They could possibly encompass food marketing and packaging firms, food manufacturing and processing equipment enterprises, or seed and vine planting equipment businesses.”

Mr Cameron said that with multiple entry and exit points off both Dairy Farm Road and Batchelar Road, the site could be subdivided into smaller plot sizes.

“The existing buildings have largely had there day. The value of this exciting site is the large land holding in this very special location which is almost impossible to replicate,” Mr Cameron said.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>

ALSO:

Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>

ALSO:

ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>

ALSO:

Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>

ALSO:

RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>

ALSO:

Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>

ALSO:

Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>

ALSO:


Telecoms: Spark Welcomes Spectrum Allocation And Prepares For 5G Rollout Over The Next 12 Months

Spark welcomes spectrum allocation and prepares for 5G rollout over the next 12 months Spark today welcomed the announcement of the direct allocation process of 5G spectrum, with the Company to be offered management rights to 60 MHz of 3.5 GHz ... More>>

ALSO:


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>

ALSO:


Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>

ALSO:

RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>

ALSO:

Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>

ALSO:

Government: Milestone In Cash Flow Support To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>

ALSO:



University Of Canterbury: Astronomers Discover The Science Behind Star Bursts That Light Up The Sky

University of Canterbury (UC) astronomers are part of an international team that has revealed how explosions on the surface of a white dwarf star can increase its brightness by thousands or millions of times making it look like a new star. For ... More>>

Air NZ: Air New Zealand Adds Business-timed Flights For Regions

Air New Zealand will operate business-timed flights in and out of a number of regional ports from next month.
The flights will allow customers in Hamilton, Tauranga, Napier, New Plymouth, Palmerston North, Nelson, Dunedin and Invercargill to undertake a day of business in either Auckland, Wellington or Christchurch... More>>

ALSO: