Investors asked to support Gibson Groundspread land offer across four sites in Gippsland

The Gibson Groundspread business is said by agents to be one of the most significant, land-rich agri-industrial portfolios to become available in recent times.

The Gibson portfolio is owned by the well known Gibson family which takes in four sites in Victoria's south east - Rosedale, Dutson, Yarram and Bayles.

The company employs more than 90 people.

The land sites across 82 hectares (203 acres) are offered with 10-year leasebacks to Gibsons Groundspread.

Fitzroys' Marco Sandrin and Brent Glassford are managing the sale through an expressions of interest campaign closing March 1.

The four properties are being offered for sale in-one-line or separately.

The properties return a combined $1.394 million in annual income from their respective 10+5+5-year, rare triple net leases.

Fitzroys sold a Koo Wee Rup site with a lease to an international agribusiness conglomerate late last year for $5.75 million.

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The four hectare Koo Wee Rup property sold on a circa 6.2 per cent yield.

Agents expect the Gibsons Groundspread portfolio to sell on a higher yield.

The four properties return a combined $1.394 million in annual income from their respective leases.

Those properties are :

2194 Princes Highway, Rosedale - across 2.5ha with returns of $569,000 per annum it includes 3098sqm of buildings across a storage and blending warehouse.

It has a heavy vehicle workshop and lime shed with a 20,000L diesel fuel storage area.

980 Longford-Loch Sport Road, Dutson - at 63ha the Dutson site is the largest of the portfolio with a 30,000-tonne blending facility, 406sqm office and workshop and multiple sheds with 5000-tonne undercover storage capacity.

It also has a compost screening plant, 60,000L diesel fuel storage and composting area with 30,000-tonne product storage capacity and returns $210,000 per annum.

33 Pound Road West, Yarram - the 9ha site has a 1142sqm office and blending facility as well as a workshop and storage shed, and 10,000L diesel fuel storage area. It returns $395,000 per annum.

100 School Road, Bayles - located within the Shire of Cardinia, the almost 8ha site has 1064sqm of buildings across office, fertiliser bunkers and sheds with 30,000L diesel fuel storage area.

"Agribusiness-tenanted investments have proven to be highly sought-after while we experience a sustained period of strong growing conditions and heightened commodity prices," Marco Sandrin from Fitzroys said.

"There remains a severe shortage of warehousing assets available to the market. Industrial real estate is still in strong demand with warehousing and logistics capabilities at a premium.

"Private investors and syndicates will no doubt recognise the very rare opportunity to acquire agri-industrial investments leased to a quality tenant that has a proven 70-year track record of industry-leading practice in Victoria."

Gibsons Groundspread was originally founded by Bill Gibson in 1953 and today is a leading agricultural distributor and spreader of organic, commercial and custom blended bulk fertiliser and soil amendment solutions, operating locally from strategically placed state-of- the-art production and distribution sites.

For more information contact Marco Sandrin on 0434 562827 and Brent Glassford on 0430 484322.

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