Gold miner Santana to buy Ardgour Station
In a statement, Santana said the $25 million purchase would 'acquire outright Ardgour Station land which has competing land uses over part of the
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Scoop
2 days ago
- 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
2 days ago
- 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.
Otago Daily Times
3 days ago
- Otago Daily Times
Group's composition, stance on mining company questioned
Claims an Australian mining company was "flying under the radar" in Central Otago were rebutted yesterday and questions were raised about the makeup of the group complaining. Santana Minerals has estimated it could extract $4.4 billion worth of gold from an open pit and underground gold mine on Bendigo and Ardgour Stations. Earlier this month, Santana bought the more than 2800ha Ardgour Station, subject to Overseas Investment Office approval. The company has said it will lodge within weeks a fast-track resource consent application to operate an open pit and underground mine. Sustainable Tarras chairwoman Suze Keith said the group had newly uncovered information that Santana Minerals was intentionally "flying under the radar" to avoid scrutiny of its plans to mine in the Bendigo-Ophir area. The group is described on its website as a "group of concerned locals who love Tarras and want to live here". The statement was signed by Ms Keith, Bendigo winery owner Rob van der Mark and Duncan Kenderdine. Otago regional councillor Michael Laws responded to Sustainable Tarras, questioning if they actually lived in the region. He had lived in the Cromwell area for nearly 10 years and had never met any of the people who signed the statement. "I'm intrigued as to how [Ms Keith], a Wellington-based environmental activist, became the chair of an anti-mining lobby in my constituency" Mr Laws said he had not had any Tarras resident contact him with concerns about the Santana application. "If opposition was so widespread then you'd expect their local regional councillor would be an early reference point, would you not?" Ms Keith did not respond before deadline to a query from the Otago Daily Times about where she lived. Sustainable Tarras' statement said Santana Minerals was trying to avoid scrutiny by operating in breach of the district plan, giving nearby residents little notice of blasting activity that did not have council approval and asking for non-publicly notified resource consent. "It's beyond arrogant — in fact it's a callous disregard for the locally affected residents and indeed our local district council" Santana had likely been operating outside the district plan rules for years by operating plant to process drill samples and co-ordinate drill crews from Bendigo, the statement said. Ms Keith said Santana had applied for consent from the Central Otago District Council for a mining camp and requested it be non-publicly notified. The group also said the company had reneged on plans to construct a large, multi-year workers' campground and replace it with temporary shelters. Plans to seal Thomson Gorge Rd now appeared to be off the table as well. Santana Minerals chief executive Damian Spring said the company's current resource consent application was specifically for early infrastructure works outside the outstanding natural landscape and was following the normal Central Otago District Council process. The company's planners had advised the application be non-notified due to its low effect and in accordance with the district plan, he said. Temporary buildings had been established in Bendigo while consent applications for permanent facilities were under way. Residents near the proposed mine site were contacted last week with an overview of planned works over the next six months, subject to resource consent where needed, he said. Part of that was roadworks on a section of Thomson Gorge Rd between Matilda Rise Rd and Rise and Shine Valley, which was due to begin yesterday. That information was also shared by the district council as part of its traffic management plan. A small blast would be needed to access 2000cum of material from a pit to test it for strength as roading material. That was a permitted activity under both CODC and Otago Regional Council plans, he said. Worker accommodation for the mine would be a mix of caravan/campervan facilities and temporary accommodation. All mine workers would be required to be residential, and transport would be provided to towns within an hour's drive of the mine. Chipsealing the section of Thomson Gorge Rd in front of private residences was still in the plan once construction was completed, Mr Spring said. A district council spokeswoman did not respond to questions from the Otago Daily Times before deadline.
