Foodstuffs North Island has announced that it is marketing for sale its 4.0369ha site at 57 Kiln Street, Silverstream in Upper Hutt.
“Foodstuffs is committed to maintaining its Wellington operations, but no longer requires the entire 23,500sqm warehouse and office complex and is assessing options to either sell the site and take a leaseback over a portion of space or to move its office staff to an alternative location within the Hutt Valley,” Foodstuffs North Island’s General Manager of Property Development Lindsay Rowles says.
“We have more space than we need at Kiln Street so it makes good business sense for us to look at alternatives.
“Our intention is to work with prospective purchasers to lease back part of the Kiln Street site in the short to medium term,” Rowles says. “Our bottling plant may remain in a portion of the warehouse at Kiln Street on a leaseback arrangement. We will also lease back space in the short to medium term for our support centre staff, depending upon availability of suitable alternative premises in the Hutt Valley and feedback from prospective purchasers.
“Given the strength of the current property market, it’s a good time for us to sell our Kiln Street property and reinvest the funds in our store network,” Rowles says.
The Kiln Street site has a 17,708sqm warehouse and 5,773sqm of office space, with 167 carparks. It is being marketed for sale by Bayleys. Tenders are open from March 10 until April 12.