WANT FRIES WITH THAT? Six lines of genetically modified potatoes aimed at fast food outlets and the frozen chip and crisps market have been okayed by Food Standards Australia New Zealand… and GE Free NZ is urging those targeted by growers to say no. President Claire Bleakley says fast food outlets need to ban the use of transgenic potatoes to protect consumers’ health. The six strains – carrying genes from viruses and bacteria to stop discolouration and alter nutritional components – have not undergone a thorough public safety evaluation, she says. “The goodness in potatoes has been corrupted and now harbours unknown dangers. Consumers are also vulnerable, as the GE potatoes escape the labelling laws. There is no evidence that these GE potatoes are safe to eat and considerable evidence that they are not safe.” FSANZ says no public health and safety concerns have been identified in relation to food derived from the potatoes but Bleakley says the statement is highly misleading, with no requirement for feeding trials or genomics testing. “How can FSANZ give consumers an assurance of safety when they do not require any animal or human feeding studies? There is no evidence that the potatoes are safe to eat.” www.foodtechnology.co.nz 37 OPPORTUNITY FOR UNIQUE FOOD INDUSTRY INVESTMENT Provida – a New Zealand food logistics company – has placed its four national distribution centres on offer to investors through a proportionate ownership scheme. Silverfin Capital, which owns the Provida Portfolio Scheme after acquiring it in a sale and leaseback deal for $22.2 million, has appointed Colliers International to market 233 investment parcels of $50,000 each to wholesale investors. Each parcel gives investors a beneficial interest in the industrial land and buildings of Provida’s distribution centres in Auckland, Hamilton, Mount Maunganui and Palmerston North. Silverfin managing director Cheryl Macaulay says the premises are ideally located in sought-after industrial areas, on large land holding sites, offering convenient access to distribution and transport routes across the North Island. “We’re projecting a pre-tax cash return of 8% per annum (forecast to 31 March 2019), paid to investors monthly, which represents a solid return on investment.” Colliers International syndications director Charlie Oscroft says Provida is a market leader in the transportation of ambient, chilled and frozen goods across New Zealand. “The company is signed to new 15-year leases on its three primary properties, offering a total initial rental income of just over $1.4 million a year, with fixed annual rental growth of 1.75 per cent in most years,” he says. “Each lease offers multiple rights of renewal, extending the total lease terms to 33-to-35 years.” Oscroft says the buildings meet all new building standards, and have been designed for future expansion to allow Provida’s business to continue to grow. “Three of the properties can be further developed which gives scope for greater future rental income and asset growth.” Oscroft says the syndication offer represents a rare opportunity to invest in large landholdings in New Zealand’s buoyant industrial property sector without significant capital outlay. “The industrial property market in New Zealand continues to go from strength to strength, with strong demand and low vacancy rates,” he says. “The industrial markets in Auckland and Tauranga are experiencing record low vacancy rates, while prime vacant industrial space in Hamilton is being absorbed almost as soon as it becomes available.” Founded in 1991, Provida has grown a network of distribution hubs across the North Island through growth and strategic acquisitions. The New Zealandowned business boasts 180 staff and a fleet of 70 dual temperature trucks. Its Auckland, Hamilton and Palmerston North sites are designated as export transitional facilities, providing growth potential for future markets. FACT BOX… ON OFFER: Four prime industrials assets developed for Provida are located at: • Wiri Station Rd in Auckland • Te Rapa in Hamilton • Milson in Palmerston North • Macrae Avenue in Mt Maunganui Combined total gross floor area of 7,637sq m on just over 3ha of freehold land. All comply with New Zealand’s food health regulations.
FT-oct17-eMag
To see the actual publication please follow the link above