Visy Glass has sold its Auckland manufacturing facility to Centuria Capital Group for NZ$178.3 million (US$118.5 million) on a 20-year sale-and-leaseback, triple net lease deal.
It means the capital group will lease the facility back to the glass manufacturer for the next 20 years.
The Visy Glass facility is New Zealand’s only glass bottle and jar manufacturing site and was established in 1922.
The 8.6-hectare site, at 752 Great South Road in Penrose, is located approximately nine kilometres from Auckland’s CBD and 15km from the Auckland International Airport.
Visy Glass acquired the site when it completed the recent acquisition of O-I Glass’s Australasian business in August this year.
The acquisition extends Centuria’s relationship with Visy, with more than 123,000m2 leased to the international paper, packaging and recycling company across Centuria’s industrial platform. It is one Centuria’s largest clients.
The Visy Glass facility will form a new, New Zealand single asset unlisted fund, underwritten by Centuria.
It will be the largest single asset unlisted fund launched by Centuria to date and is transformative for Augusta Capital - Centuria’s New Zealand platform - bringing the New Zealand operation to scale ahead of schedule.
30.10.2020, Visy Glass
Notícias sobre o material do site é copyright e pertence à empresa ou ao seu fornecedor de terceiros notícia, e todos os direitos reservados. Qualquer usuário que acessa esse material poderá fazê-lo apenas para seu próprio uso pessoal, bem como a utilização desse material é de risco exclusivo do Utilizador. A redistribuição ou exploração comercial de material tal notícia é expressamente proibida. Se tal notícia material é fornecido por um terceiro, cada utilizador concorda em observar e estar vinculado aos termos específicos de utilização aplicáveis a material notícia. Nós não representamos nem endossamos a precisão ou confiabilidade de qualquer informação contida em qualquer notícia ou sites externos referidos na notícia.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.