Latest news with #MrApple
Scoop
15-07-2025
- Business
- Scoop
New Property Fund Targets $1bn, Acquires High-Tech Agri Asset
The first asset in the Erskine Owen Veritas Property Fund is set to be a $24 million smart logistics facility operated by Mr Apple, one of the countrys largest vertically integrated apple exporters and a subsidiary of NZX-listed Scales Corporation. A new wholesale property investment fund aiming to build a $1 billion portfolio of commercial assets by 2030 is acquiring a flagship coolstore in Hawke's Bay that is transforming the way New Zealand apples are prepared for export. The first asset in the Erskine Owen Veritas Property Fund is set to be a $24 million smart logistics facility operated by Mr Apple, one of the country's largest vertically integrated apple exporters and a subsidiary of NZX-listed Scales Corporation. The 7,000m² coolstore will serve as the Fund's cornerstone investment, under a 20-year triple net lease. Alan Henderson, director at Erskine Owen, says the facility is a strong example of the export-aligned infrastructure the Fund will focus on. 'We chose this site as the fund's foundation because it ticks all the boxes. It is a core industrial logistics facility, under a long-term lease to a globally competitive exporter, located in a region that is vital to New Zealand's agri-economy. 'We're focused on assets that help drive New Zealand's global competitiveness and that perform well in both stable and volatile markets. These are the kinds of buildings that don't go out of fashion, that provide reliable income and that help sectors like horticulture and agribusiness perform at the highest level,' he says The PIE Fund aims to diversify across infrastructure, healthcare, manufacturing, office and retail sectors, with a goal of reaching $1 billion in holdings within five years. Henderson says the capital raise for the Groome Place coolstore is already underway. 'This is a Fund with a long-term growth and diversification strategy, which is intended to spread investment risk across sectors and locations. We are aiming to have $200 million in assets within 12 to 18 months and increase that to a billion dollars within four years after that. 'The asset quality here speaks for itself. There's clear investor appetite for export-aligned infrastructure backed by strong tenant covenants,' he says. The Groome Place site itself is a leap forward for post-harvest logistics. It incorporates advanced design, automation and environmental controls to optimise throughput and quality, allowing Mr Apple to process around 3,000 bins of apples daily. Michael Caccioppoli, head of coolstores, logistics and engineering at Mr Apple, says the new system has cut the time between orchard and packhouse by 25 percent. 'This turnaround speed directly supports export quality, and by shortening the time from picking to cooling, we're able to preserve internal fruit integrity. 'That means apples are fresher when they hit the ships. It improves shelf life, reduces quality complaints and lifts the eating experience for millions of consumers around the world, which is critical as we establish markets for new varieties,' he says. In 2024, 72 percent of Mr Apple's exports were premium varieties like Dazzle, Posy and NZ Queen. The company aims to grow that figure to 75–80 percent by 2027. The new facility supports that ambition with optimised workflows, precision-controlled storage and lower environmental impact, using 15 to 20 percent less CO2 than older sites to slow fruit respiration and delay ripening. Despite its scale, the coolstore is operated by just eight staff thanks to automation and system integration, enabling tight control over environmental variables. The layout has been designed to reduce handling and labour costs while accelerating the flow of fruit through to export. Caccioppoli says the benefits go beyond product quality. 'The system helps protect margin and reduce risk in a volatile global freight market,' he says. Henderson says investors are increasingly seeking assets with reliable returns, and with features that align with environmental, social, and governance (ESG) considerations and export relevance. 'It reinforces our view that there is real demand for high-quality, income-generating assets in this sector. 'The coolstore reflects the kind of high-performance infrastructure we're targeting – efficient, export-driven and future-ready,' he says. The Erskine Owen Veritas Property Fund is now open to wholesale investors, offering access to income-producing infrastructure assets.1 Notes: 1 Important: The Erskine Owen Veritas Property Fund is open only to wholesale investors under the Financial Markets Conduct Act 2013. The Fund is not suitable for retail investors, and there is no product disclosure statement. This above is not an offer or invitation to invest in the Fund. It does not consider any investor's personal circumstances and is general in nature. No guarantees are made as to the performance of the Fund or any repayment of capital or income. Past performance is not indicative of future performance. Investors should obtain independent advice before investing.
Scoop
15-07-2025
- Business
- Scoop
New Property Fund Targets $1bn, Acquires High-Tech Agri Asset
A new wholesale property investment fund aiming to build a $1 billion portfolio of commercial assets by 2030 is acquiring a flagship coolstore in Hawke's Bay that is transforming the way New Zealand apples are prepared for export. The first asset in the Erskine Owen Veritas Property Fund is set to be a $24 million smart logistics facility operated by Mr Apple, one of the country's largest vertically integrated apple exporters and a subsidiary of NZX-listed Scales Corporation. The 7,000m² coolstore will serve as the Fund's cornerstone investment, under a 20-year triple net lease. Alan Henderson, director at Erskine Owen, says the facility is a strong example of the export-aligned infrastructure the Fund will focus on. 'We chose this site as the fund's foundation because it ticks all the boxes. It is a core industrial logistics facility, under a long-term lease to a globally competitive exporter, located in a region that is vital to New Zealand's agri-economy. 'We're focused on assets that help drive New Zealand's global competitiveness and that perform well in both stable and volatile markets. These are the kinds of buildings that don't go out of fashion, that provide reliable income and that help sectors like horticulture and agribusiness perform at the highest level,' he says The PIE Fund aims to diversify across infrastructure, healthcare, manufacturing, office and retail sectors, with a goal of reaching $1 billion in holdings within five years. Henderson says the capital raise for the Groome Place coolstore is already underway. 'This is a Fund with a long-term growth and diversification strategy, which is intended to spread investment risk across sectors and locations. We are aiming to have $200 million in assets within 12 to 18 months and increase that to a billion dollars within four years after that. 'The asset quality here speaks for itself. There's clear investor appetite for export-aligned infrastructure backed by strong tenant covenants,' he says. The Groome Place site itself is a leap forward for post-harvest logistics. It incorporates advanced design, automation and environmental controls to optimise throughput and quality, allowing Mr Apple to process around 3,000 bins of apples daily. Michael Caccioppoli, head of coolstores, logistics and engineering at Mr Apple, says the new system has cut the time between orchard and packhouse by 25 percent. 'This turnaround speed directly supports export quality, and by shortening the time from picking to cooling, we're able to preserve internal fruit integrity. 'That means apples are fresher when they hit the ships. It improves shelf life, reduces quality complaints and lifts the eating experience for millions of consumers around the world, which is critical as we establish markets for new varieties,' he says. In 2024, 72 percent of Mr Apple's exports were premium varieties like Dazzle, Posy and NZ Queen. The company aims to grow that figure to 75–80 percent by 2027. The new facility supports that ambition with optimised workflows, precision-controlled storage and lower environmental impact, using 15 to 20 percent less CO2 than older sites to slow fruit respiration and delay ripening. Despite its scale, the coolstore is operated by just eight staff thanks to automation and system integration, enabling tight control over environmental variables. The layout has been designed to reduce handling and labour costs while accelerating the flow of fruit through to export. Caccioppoli says the benefits go beyond product quality. 'The system helps protect margin and reduce risk in a volatile global freight market,' he says. Henderson says investors are increasingly seeking assets with reliable returns, and with features that align with environmental, social, and governance (ESG) considerations and export relevance. 'It reinforces our view that there is real demand for high-quality, income-generating assets in this sector. 'The coolstore reflects the kind of high-performance infrastructure we're targeting - efficient, export-driven and future-ready,' he says. The Erskine Owen Veritas Property Fund is now open to wholesale investors, offering access to income-producing infrastructure assets.1 Notes: 1 Important: The Erskine Owen Veritas Property Fund is open only to wholesale investors under the Financial Markets Conduct Act 2013. The Fund is not suitable for retail investors, and there is no product disclosure statement. This above is not an offer or invitation to invest in the Fund. It does not consider any investor's personal circumstances and is general in nature. No guarantees are made as to the performance of the Fund or any repayment of capital or income. Past performance is not indicative of future performance. Investors should obtain independent advice before investing.
Techday NZ
15-07-2025
- Business
- Techday NZ
New property fund targets NZD $1 billion export-focused assets by 2030
A newly established wholesale property investment fund is launching with the acquisition of a coolstore facility in Hawke's Bay valued at NZD $24 million, with ambitions to build a NZD $1 billion portfolio by 2030. The Erskine Owen Veritas Property Fund's inaugural purchase is a 7,000 square metre smart coolstore leased long-term to Mr Apple, the subsidiary of Scales Corporation, which is among the largest vertically integrated apple exporters in New Zealand. The asset marks the fund's entry, under a 20-year triple net lease agreement. Portfolio growth The fund has revealed a strategy to reach NZD $1 billion in holdings within a five-year time frame, by diversifying across sectors such as infrastructure, healthcare, manufacturing, office and retail, targeting income-generating assets with strong links to export activities and environmental, social, and governance (ESG) considerations. "We chose this site as the fund's foundation because it ticks all the boxes. It is a core industrial logistics facility, under a long-term lease to a globally competitive exporter, located in a region that is vital to New Zealand's agri-economy. "We're focused on assets that help drive New Zealand's global competitiveness and that perform well in both stable and volatile markets. These are the kinds of buildings that don't go out of fashion, that provide reliable income and that help sectors like horticulture and agribusiness perform at the highest level," said Alan Henderson, Director at Erskine Owen. A capital raise to support the investment in the Groome Place coolstore is now underway. Henderson stated, "This is a Fund with a long-term growth and diversification strategy, which is intended to spread investment risk across sectors and locations. We are aiming to have $200 million in assets within 12 to 18 months and increase that to a billion dollars within four years after that. "The asset quality here speaks for itself. There's clear investor appetite for export-aligned infrastructure backed by strong tenant covenants," he added. Technology and efficiency The Hawke's Bay coolstore features advanced design and automation, including systems that reduce the time between orchard and packhouse by 25 percent. According to Mr Apple's Head of Coolstores, Logistics and Engineering, Michael Caccioppoli, these upgrades are significant for product quality and competitiveness in export markets. "This turnaround speed directly supports export quality, and by shortening the time from picking to cooling, we're able to preserve internal fruit integrity. "That means apples are fresher when they hit the ships. It improves shelf life, reduces quality complaints and lifts the eating experience for millions of consumers around the world, which is critical as we establish markets for new varieties," he said. In 2024, 72 percent of Mr Apple's exports comprised premium varieties such as Dazzle, Posy and NZ Queen, with a stated aim to expand that to 75–80 percent by 2027. The smart coolstore supports this goal by introducing optimised workflows, precision-controlled storage, and a 15 to 20 percent reduction in CO2 emissions compared with older facilities. The facility is operated by just eight staff, as automation and integrated systems allow for tight control of environmental variables, reduced handling, and lowered labour costs. Mr Apple processes approximately 3,000 bins of apples daily, using technology to accelerate throughput while protecting product quality. Caccioppoli highlighted the broader advantages of the advanced facility, stating, "The system helps protect margin and reduce risk in a volatile global freight market," he observed. Investor demand Henderson commented on current sentiment in the investment community, with more investors seeking reliable income and ESG-aligned assets with export relevance. "It reinforces our view that there is real demand for high-quality, income-generating assets in this sector. "The coolstore reflects the kind of high-performance infrastructure we're targeting - efficient, export-driven and future-ready," he said. The Erskine Owen Veritas Property Fund is now open to wholesale investors interested in income-producing infrastructure assets.
NZ Herald
27-04-2025
- Politics
- NZ Herald
‘Economic vandalism': Harvests not homes on our fertile soils
So what does this mean? While there are sufficient resources to meet everyone's basic needs, the world's resources are limited and insufficient to satisfy the insatiable desires and greed of those that accumulate wealth beyond what is necessary. At a local level and in many ways, we are seeing this happening in our own region. We, in New Zealand, are in the midst of a plan for growth for the next 30-plus years and this is being done through a process called the Future Development Strategy (FDS). In Hawke's Bay, this FDS sets the blueprint for how we accommodate for the growth of our region for the next 100 or 200-plus years ahead. Just as 'Right Tree; Right Place' pertaining to the proliferation of the scourge of pine trees blanketing some of our best farmland, we believe in the 'Right House, Right Place'. We have plenty of unproductive land for planting houses so surely we should be growing them on these areas? Over many decades we have seen the ever increasing cancerous growth of urban and industrial sprawl creeping over some of our best soils in the world, initiated by council officer planners and agreed to by elected city councillors. This lust for more is unsustainable, especially for our future generations who will one day look back on these councils and say 'what were they doing?' The FDS process has brought to the surface many instances for 'the lust for more' whereby land owners are pushing hard to cover and destroy forever our most precious soils with concrete and asphalt. Some examples include many areas in and around the Hastings city fringes. This FDS replaces the disastrous old Heretaunga Plains Urban Development Strategy (HPUDS) document, however, this FDS Draft document basically just follows the same old blueprint that was in the HPUDS documents; more of the same pattern and policies of Greenfield developments on highly productive land. By just adding on a little bit here and a little bit there, they call this 'just tidying things up' and successive councils have been 'just tidying things up' for far too long. Then there's an area in western Havelock North where there is a push by landowners to rezone Plains Production zoned land to Urban Residential zoned land. There's even a Mr Apple plan on the corner of State Highway 51 and Te Ara Kahikatea, in the Whakatū area, for an 'industrial park'. Whakatū is an interesting case as it caters for 'wet industry'. Just 30% of the industry in Whakatū is 'wet industry'. The other 70% actually doesn't need to be there. In my opinion, the majority of the people who live in this region don't want highly fertile food producing soils destroyed forever. We need to stop this economic vandalism and focus on not growing houses and industry on our best food-producing land but rather preserve them for food production for our future generations. The FDS process is the opportune time to have a comprehensive 'reset' of how we grow our region into the future and stop this wilful destruction of our golden goose.
