10 Sanitarium pays $55m for Berkeley Vale warehouse M A N U FA C T U R I N G N E W S THE PROPERTY INVESTMENT arm of the Seventh-Day Adventist Church, which owns the Sanitarium Health Food Company, has acquired a warehouse and distribution hub at 3 Sanitarium Close, Berkeley Vale located adjacent to the Sanitarium manufacturing facility and national warehouse paying $55 million. The property is currently leased by third-party logistics giant Linfox as a foodservices distribution centre servicing the raw materials and finished stock from Mars Food Australia on a 30 years lease which it is understood expires in 2023. The Mars manufacturing facility is in Corella Close with the Linfox hub nearby. The vendor was the Singapore-listed ESRLOGOS Real Estate Investment Trust, which owns $5.6 billion of logistics assets including 21 properties in Australia including the Linfox operation. The acquisition will provide Sanitarium with “future warehousing and distribution facilities to service increasing consumer demands for its products”, a Sanitarium spokeswoman said. “The facility is key to optimising the company’s future growth plans and is a positive development for the growing hub of food industry expertise and employment on the NSW Central Coast,” she said. Sanitarium manufactures Weet-Bix and Up & Go breakfast products. The property acquired comprise three interconnected buildings that offer a combined gross floor area of 27,762 square metres. ESR-LOGOS Funds Management, manager of the REIT, said the sale of the warehouse to the church organisation was struck at an 18.5 per cent premium to the $46.4 million fair value of the property. It was also 62 per cent higher than the $34 million the ARA Logos Logistics Trust paid in 2018, highlighting the extent to which industrial property values have soared over that time. The property was originally built to service Mars Food Australia production facility opposite some thirty years ago. Speaking to one of the agents involved in the purchase Brad Rogers from Raine & Horne Commercial echoed the sentiment of Sanitarium that it is a great acquisition securing the future logistics needs for the company on the Central Coast. Showcasing organisations small and large, the Awards highlight excellence across innovation, product design, technology, emerging talent and more. The Hunter Manufacturing Awards inspire and encourage the region to secure its place as Australia’s leading manufacturing hub. REGISTRATION AND NOMINATIONS Now open APPLICATION PERIOD Closes 19 Aug 2022 AWARDS NIGHT Friday 28 Oct 2022 Hurry! Don’t miss the opportunity to be a part of the 2022 Hunter Manufacturing Awards. Visit www.hma.org.au or call 0438 242 899 to find out more. REGISTRATION AND APPLICATIONS ARE NOWOPEN MAJOR SPONSOR WITH THANKS TO OUR SPONSORS AND PARTNERS ProposedWoolworths’Warehouse and Distribution Centre at Warnervale CENTRAL COAST INDUSTRY FESTIVAL Building resilience in local manufacturing and agricultural business The Central Coast Industry Festival will be the largest event specifically for manufacturers and agricultural production companies ever held on the Central Coast. 22 August 2022 to 3 Sept 2022 Mingara Recreation Club For more information www.centralcoastindustryfestival.com.au CENTRAL COAST BUSINESS REVIEW JULY 2022
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