The Port of Tauranga has purchased a site worth almost $38 million in South Auckland to continue to expand its operations.
Chief Executive Mark Cairns announced today the company had acquired Gateside Industrial Park from Goodman Property Trust for $37.2 million to expand its MetroPort inland port operations in Onehunga.
The 6.8ha property, immediately adjacent to Port of Tauranga's inland port, MetroPort, includes three large industrial warehouses, an office building and more than 2 hectares of land ear-marked for future development and will be the key to expanding access to and from international markets for Auckland, he said.
The acquisition adds to the $10 million recently spent on acquiring three properties in Tauranga and add a further 2.28 hectares to the company's potential development land, bringing the total holdings in Tauranga to nearly 190 hectares.
Rental income from these new properties will exceed $3 million per annum.
The unconditional sale is due to settle in February 2014.