News release

Bottom-drawer investment in key Northland industrial hub

Gold-plated investment opportunity - a purpose-built distribution centre with a long-term lease to Foodstuffs North Island Ltd.

October 29, 2022

Simon Dennis

Marketing & Communications Manager
+0212 106 917

JLL agents have been exclusively appointed to market 27 Te Waiiti Place, Raumanga in Whangārei by way of Deadline Date, closing Wednesday 16th November 2022 (unless sold prior). The opportunity is a passive freehold investment with a long-term 15-year lease to Foodstuffs North Island Ltd. The company operates brands such as New World, Pak'nSave, Four Square, and Gilmours. This newly developed warehouse will utilise the site as its Northern Distribution Facility, servicing over 34 grocery locations across the Northland region.

The property features temperature-controlled cool store and freezer areas, as well as modern warehousing and office spaces. Access is via five docking stations with two-storey full height roller doors under a generous canopy. The large yard provides ample space for freight vehicle access, manoeuvring, and parking. This is a fantastic opportunity for a passive investor seeking a hands-off industrial property with inbuilt annual growth with a secure tenant.

The site is located in the industrial area of Raumanga which has close proximity to State Highway 1 and the Whangārei city centre. The building has a floor area of 2,318sqm, site coverage of approximately 23%, and a further 7,268sqm sealed yard. The size of the property combined with the purpose-built warehousing facility makes for a strategic addition to any growing commercial property portfolio. When opportunities such as this arise, they are highly sought. Investors with a keen eye on the future, looking for solid annual returns and a long-term tenant, will be drawn to 27 Te Waiiti Place.

JLL Senior Broker Chris Wakim says sound investment opportunities like this do not come around every day. 

“Having a tenant covenant as strong as Foodstuffs’ 15-year lease with fixed annual growth is rare, especially in a brand-new build,” says Wakim. “Strategically positioned industrial options are sought-after opportunities. Investors gravitate towards quality, and 27 Te Waiiti Place has that in droves.”

JLL Executive Director Jolyon Thomson highlights this passive, secure investment as a major drawcard to investors seeking consistent annual returns.

“Foodstuffs North Island is not only an essential service business, it’s an extremely strong option for the forward-thinking investor,” says Thomson. “Annual returns of $350,000 + GST on 10,018sqm of land is an attractive proposition. The security of the Foodstuffs tenancy, with the business planning a further 750sqm expansion, is a win-win for both tenant and the astute investor who acts first to secure this property.” 

Rarely available in a tight industrial market across New Zealand, 27 Te Waiiti Place, Raumanga is to be sold by way of Deadline Date, closing Wednesday 16th November 2022 (unless sold prior).

Interested parties should contact the sole agents for more information.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit