Te Mata Coolstore LP
Commercial Property
The law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to this offer if you are a person who comes within Schedule 1, clause 3(2)(a)-(c) or 3(3)(a)-(b)(ii) (inclusive) of the Financial Markets Conduct Act 2013. This includes where the amount invested upfront by the investor (plus any other investments the Investor has already made in the financial products) is $750,000 or more.
If you fall within Schedule 1, Clause 3 of the FMCA, as a result of this exclusion, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for this investment. Investments of this kind are not suitable for retail investors. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.
Note: We urge you to carefully review the information Memorandum and additional attachments (if applicable) before lodging an application. In the event that there are any material changes to the Information Memorandum communications will be added to the attachments for review.
Te Mata Coolstore is well located close to major transportation routes in the heart land of New Zealand’s apple capital – Hawkes Bay.
This property comprises a post-harvest facility containing cool stores, a former packhouse, and associated amenities and yard. The cool stores were built in three stages in 1994, 2002 and 2004. They are in average to good condition and have been subject to routine maintenance.
The property has been leased by Kiwi Crunch to provide cool storage for export apples. The existing lease expires in December 2024, Colliers have been appointed as agents to source a new tenant for the property.
More broadly, the region and horticultural sector has experienced significant challenges with Cyclone Gabrielle (February 2023) causing widespread damage to orchards and a corresponding reduction in fruit volumes. Growers are replanting orchards with modern, high yielding, and high value varieties. The current reduction in demand for coolstore space is forecast to increase in the next few years as new plantings mature to deliver yields in excess of pre-Cyclone Gabrielle levels.
Te Mata Coolstore
