The former Smithfield meat processing site is on the market following the 139-year-old Timaru plant’s closure last year, affecting about 600 jobs.
The 32.4ha site, which is next to the new bulk-retail showgrounds development, is being marketed by Colliers by a deadline private treaty. Timaru District Council records last year showed the site had a capital value of more than $36million and a land value of $3.2m.
The marketing blurb said the site presented a “multitude of options” for developers and occupiers alike. The industrial and rural land holding was a prime redevelopment opportunity, it said.
It had functional cold storage improvements, significant service infrastructure, a “huge” power supply and it was close to PrimePort. Alliance Group had largely decommissioned the operation and it was “must-sell”.
In November, the co-operative posted a full-year after-tax loss of $95.8m, saying the figure included one-off costs of $48.2m, which included costs associated with the closure of Smithfield. It was forecasting a return to profitability in the current financial year.
