Rua lab facility on the market

Rua Bioscience’s manufacturing facility and laboratory (denoted by the red line in the picture), located at the industrial park next to Poverty Bay Golf Club and Gisborne Speedway, is up for sale. The state-of-the-art facility “boasts exceptional security systems”. Picture by Bayley’s

One of Gisborne’s most secure buildings is up for sale.

NZX-listed company Rua Bioscience is looking for a buyer for its purpose-built manufacturing and laboratory facility at Commerce Place industrial park.

The Good Manufacturing Practice-certified facility cost $2.5 million to build and another $1.5m to fit out when it was constructed just two years ago.

The high-security, high-hygiene and high-tech building is being sold through Bayley’s and Rua chief executive Paul Naske is hoping it will continue to be a great asset for the region.

“It is a great facility for research or pilot-scale manufacturing. It’s a fantastic resource for the region,” Mr Naske said.

“Many in Tairāwhiti often discuss the need to develop businesses and IP in the regions.  Well this is perfect resource to help aspiring local entrepreneurs or researchers create real value for our region.

“I’d love to see it loved. It just requires someone to think a little curiously on how to use it.”

Mr Naske suggested it would work for pharmaceutical or nutraceuticals manufacturing, or any food science and high-end scientific research.

The facility has a carbon dioxide extraction unit and various laboratory equipment, is fitted out with duress alarms and features a warehouse section as well as clean room.

In the second half of the 2023 financial year, Rua Bioscience made the decision to close the GMP manufacturing facility and establish a capital light business model by outsourcing cultivation and manufacturing.

The company has established distribution channels for its unique East Coast genetics in key medicinal cannabis markets around the world.

Rua continues to operate its research and development and genetic discovery operation in Ruatorea where it breeds and nurtures cannabis genetics.

Bayley’s Gisborne salesman Mike Florance said the sale provided an “unparalleled opportunity”.

“It’s ideally suited to pharmaceutical, biotech and research institutions. This state-of-the-art facility boasts exceptional security systems, full climate and air-pressure control.

“There’s also huge growth in (the field of) GMO (genetically modified organisms) with possible changes to the law in that area.

“The land is leased and has an option to purchase should the new owner wish to.”