Farmgard HQ for sale and leaseback

The office-warehouse at 21 Andrew Baxter Dr is identified by a blue border. Photo / Supplied

Kiwi farm machinery business Farmgard has put its headquarters near Auckland Airport up for sale and leaseback.

Brokers say the move, to raise capital for further expansion across the Tasman, brings an opportunity to secure a versatile industrial property, tenanted by a family-run, homegrown success story.

Colliers International's Paul Jarvie, Brad Johnston and Ash Vincent, are marketing the property by deadline private treaty, with offers closing at 4pm on March 20, unless sold earlier.

Jarvie says the importer, distributor and servicer of world-class agricultural/horticultural equipment tailored to NZ conditions, is approaching its fourth-generation in business. Farmgard is now expanding operations in Australia (where it is the sole importer of Celli, a leading Italian manufacturer of soil processing machinery), plus other markets serving the food and horticultural sectors.

A new office in Brisbane is planned and there are plans to vastly expand the Australian dealer network. To help fund this capital-hungry growth, Farmgard Limited is selling its Andrew Baxter property.

"This property at the heart of the sought-after Airport Auckland industrial precinct is the nerve centre of Farmgard's operations," Johnston says.

"The property comprises a 1991sq m warehouse and office facility on a large 4048sq m freehold site with a sealed yard.

" Its versatile layout and closeness to Auckland's key transport infrastructure will ensure it remains attractive to industrial occupiers for many years to come."

Farmgard has committed to a new four-year lease from settlement, with a four-year right of renewal. Backed by a bank guarantee, the lease is set to earn $284,590 plus GST in net annual rent.

Rent growth is locked in at 2.5 per cent per annum, with a market review on renewal. Jarvie says the property offers a high-stud warehouse plus two levels of well-presented offices and amenities.

"The main warehouse of 806sq m is accessed via two roller doors under a large294sq m canopy along the northern side.

"An additional workshop of 508sq m is located to the rear of the warehouse, with access via an internal and an external roller door. The offices are at the front of the site, providing 350sq m of space on the ground floor and 327sq m on the first floor.

"The ground floor comprises a reception and partitioned offices, while the light-filled second floor includes an open plan office, staffroom, meeting room and additional amenities, with an internal stairwell giving direct access to the main warehouse."

The sealed yard is mostly asphalt or concrete which provides ample car parking, storage and circulation areas.