Port of Tauranga has completed the sale of its property at 345 Neilson Street, Onehunga, to Trade Depot for NZ$ 88.7 million.
The transaction forms part of the port’s capital recycling programme, which seeks to unlock value from non-core property assets and reinvest proceeds into strategic infrastructure projects supporting the long-term growth of New Zealand’s largest port.
The Onehunga property, known as Gateside, comprises 6.84 hectares of heavy industrial-zoned land and 17,779 square metres of buildings.
Trade Depot, one of the current tenants of the property, intends to utilise the site to support its continued business growth and expansion in the Auckland market.
Dan Kneebone, General Manager Property and Infrastructure at Port of Tauranga, described the transaction as a positive outcome for both parties, noting that the sale allows the port to redirect investment into projects that strengthen core port and freight operations and improve capital efficiency.
