Property syndication specialists Erskine and Owen have launched a syndication offer for investors in the Heinz Wattie's National Distribution Centre, recently bought from another property investment specialist for $29.1 million.
The centre in Elwood Rd, Hastings, opened in 2012. Units are available to wholesale investors at $100,000, offering a projected pre-tax cash return of 8 per cent a year.
Built on 6.3ha site beside the railway with a direct route to Napier Port and with a gross floor area of 48,500sqm, it has a major role in distributing 12000 Wattie's lines throughout Australasia. The purchase from property investor Asset Plus was confirmed in July.