A tyre recycling plant is being used as a unique selling point for an industrial site in New Zealand. A property for sale in Wiri, is described as housing New Zealand‘s largest tyre recycling facility.
Tyre Recycling Plant Adds to Investment
The freehold 9000sq m property at 75 McLaughlins Rd., is the site of Waste Management‘s specialised high-tech facility that was only opened last year. It is being marketed by CBRE‘s Paul Steele and Vinay Patel, via a deadline private treaty process closing on 4pm on June 12.
Steele says having a tenant of Waste Management‘s calibre makes for a stable and secure long-term investment property.”What’s more, the next owner will be indirectly supporting the Government-backed initiative to tackle a major waste issue,” he points out.
“They’ll be helping to solve the puzzle of what to do with the five million tyres New Zealanders throw away each year.”
The plant is considered a key selling point for the property
Patel says Waste Management is New Zealand‘s largest waste collection provider. Owned by Beijing Capital since 2014, it reported a profit of $28m in 2017. “It has a five-year lease on the site which earns $174,720 plus GST per annum; with 4 per cent annual growth rate factored in, and a five-year right of renewal. The next market rent review is in 2022.”