A large Rotorua industrial property owned by Tachikawa Forest Products Limited is being sold by the company's receivers, Brendon Gibson and Grant Graham of KordaMentha.

The property comprises almost 8ha of land in Rotorua's industrial precinct east of the city and contains more than 18,000sq m of buildings with access from two roads.

Tachikawa operated two sawmills on the Ngapuna property before it went into receivership in October.

The freehold, level property with a total area of 7.9208ha is in three individual titles.


The site at 79 Vaughan Rd is 5038sq m, at 85 Vaughan Rd there is 7979sq m and 87 Vaughan Rd encompasses 6.6191ha.

All are zoned for Industrial B use under the current local district plan, with a move to Industrial 1 classification under the proposed Auckland Unitary Plan.

Marketing of the real estate assets is being undertaken by Mike Adams of Bayleys Auckland and Mark Slade of Bayleys Rotorua.

They have been tasked with selling just the land and buildings on the Ngapuna site through a tender process which closes on March 27.

The sawmill's plant and machinery are being sold separately.

Slade says the property is being offered for sale as one lot but it could easily be broken down into three smaller portions offering flexibility and options for a new owner.

Built in 1989, the sawmill was expanded in 1993 to cope with demand for milled timber planking and frames from the Japanese market.

Among the structures in place are a selection of large warehousing and storage units, several office and administration locations, staff amenities, walkways and canopies, multiple workshops, sheds, and two sizeable structures which housed the heavy-duty milling operations.

Adams says the site is surrounded by several big industrial businesses operating in the logging and agriculture industries in and around the Rotorua Lakes region.

"It therefore lends itself to the likes of a truck parking yard, engine and equipment maintenance and engineering plant, or industrial storage facility, as well as timber processing," Adams says.

"The remaining infrastructure is both sizeable and relatively new allowing for either a 'turn key' occupation or for straightforward reconfiguration into a new use," he says.