Vitaco global HQ on market
The Vitaco headquarters at 4 Kordel Place. Photo / Supplied
The global manufacturing headquarters of a market-leading Australasian health and wellness company, Vitaco, is for sale through Colliers International.
Industrial directors Greg Goldfinch, Andrew Hooper and Paul Higgins are marketing 4 Kordel Place in East Tamaki, Auckland, for sale by deadline private treaty.
Offers on the 15,706sq m freehold property close at 4pm on Tuesday, September 11, unless it is sold earlier.
Goldfinch sees an exceptional opportunity to acquire a large, well-located industrial property signed to a long 18-year lease.
“This investment property ticks all the boxes, from its strategic location to its very strong global tenant covenant,” he says. “It comprises a modern, state-of-the-art health and wellness manufacturing facility on a substantial site.
“Located in the heart of the established East Tamaki industrial precinct, the facility supplies products to New Zealand, Australia, China, South East Asia, the Middle East, Europe and more.
“Vitaco’s long lease has nine years remaining, with three rights of renewal of three years each extending the overall lease term until March 2036.
“The lease earns $1,768,014 in net annual rent, with Consumer Price Indexed-based rent reviews due in 2021 and 2024.
“This is a chance to invest in a top-notch industrial facility backed by the ongoing strength of the hugely popular and growing health and wellness sector.”
Vitaco Health (NZ) Limited is part of Vitaco Group — Australasia’s largest natural health supplement and active sports and nutrition manufacturer.
The company has more than 400 staff in New Zealand and exports products to more than 40 countries. Facilities here produce brands including Musashi, Balance, Healtheries, Nutra-Life, Aussie Bodies, bodytrim and Abundant Earth.
Hooper says Vitaco is committed to the Kordel Pl premises as its long-term home.
“This substantial facility was built around 2000 and expanded with a major office and warehouse extension in 2008, bringing the total net lettable area to 12,205sq m.
Vitaco is further committed to the location by way of a lease of a facility across the road at 5 Kordel Pl.”
Hooper says the Light Industry zoned property is situated on a large freehold site with excellent exposure.
“The property comprises two warehouses, associated offices and amenities, a large sealed yard and a car parking building with 185 spaces. The buildings have an A-grade seismic rating, which is a must for both national and global tenants.”
The 5272sq m main warehouse includes lab, plant and change areas, while a smaller 1807sq m warehouse provides a high-level racking area.
It is constructed of steel portals and precast panels to provide additional protection of the warehouse interior.
The 1829sq m office building is at the northwest of the site fronting Kordel Pl, having an original ground floor office and a two-level office extension.
“The offices are well presented and offer a mixture of framed partitions and open plan areas,” says Hooper.
The car parking building, accessible off Kordel Pl, is built over two levels with a 4.3m height clearance, allowing trucks to navigate the site with ease.
Higgins says the property is well located on the corner of Kordel Pl and Accent Dr, provides exposure to an average of 12,000 passing vehicles daily.
The property’s Light Industry zoning allows for a range of industrial activities that do not generate objectionable odour, dust or noise emissions.
Higgins says the global health and wellness industry is among the largest and fastest growing in the world, with double-digit growth since 2000 resulting in an estimated global worth of $5.5 trillion last year.
Vitaco Health (NZ) Limited’s parent company, Vitaco Group, was established in 2007 from the merger of two companies; supplement and sports nutrition maker Nutra-Life Health and Fitness, and Healtheries NZ, which is one of New Zealand’s oldest and most well-known health and wellness brands.
As well as manufacturing for its own brands, Vitaco contract manufactures for private label third parties including grocery, health food, pharmaceutical, gym and specialist retail companies.
Vitaco Group listed on the Australian stock exchange in 2015 and was purchased by Chinese firm Shanghai Pharmaceuticals and Hong Kong private equity group Primavera Capital in 2016.