Mr Apple Coolstore $32m Investment Sale

Registered ValuersRegistered Property ConsultantsLINZ Accredited.  Hawke’s Bay-based premium quality valuation and creative property strategy©.  Leading +$0.5b acquisitions-disposals NZ-wide for 24 years.  Valuation litigation and commercial property specialists.  Development and public land specialists. Property economy analysts and commentators – for Press.

 

Mr Apple Coolstore at 5 Hill Road Hastings

Photo Bayleys

Hawke’s Bay commercial-industrial property values have continued to display strong growth.  Investment yields have trended down to all-time lows with coinciding higher property asset values.  Land values including industrial were tracking upwards in 2018-20 and since COVID, land values have firmed further.

The $31.86m investment sale in 2022 by Bayleys including Kerry Geange for the Mr Apple coolstore at 5 Hill Road reflected 4.75% yield.  Bayleys’ case study inserted below.

The Mr Apple coolstore of 18,566 sqm on 3.5 hectares is leased only for another 3 years.  If renewals options are exercised, then Mr Apple may occupy the premises for 13 years.

 

Refer to Team Turley & Co for more information.

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