Bob Clarkson sells $ 200 million of industrial property in Tauranga

Tauranga commercial landlord Bob Clarkson has disbursed his extensive $ 200 million portfolio in one of the largest industrial and rural property transactions seen in the Bay of Plenty.

Low-profile investor and union, Mackersy, based in Queenstown Owned, purchased 24 industrial buildings, all built by Clarkson and his construction team, in two deals worth $ 150 million.

Clarkson, a former member of the national parliament for Tauranga who defeated First New Zealand leader Winston Peters in the 2005 elections – Peters held the seat for 21 years – had previously sold his 210ha rural property in Tauriko West for 53 million Dollars.

He wanted to develop a multi-million dollar residential community that included affordable housing along the Wairoa River, but was delayed by rezoning and consent issues and let go of the ambitious plan.

Clarkson sold two 17,000 m2 buildings to Mackersy for $ 51 million: the bulk storage warehouse next to the Tauranga airport and leased by Cargill, Nutrinza, SealesWinslow, Shercon RMD Transport and Textiles Alive; and the NZL Group’s new cargo logistics facility at the Tauriko Business Estate, on the southern outskirts of Tauranga.

The two properties are now in a Mackersy syndicate with WSP House, a modern four-story office building overlooking Hagley Park in Christchurch, and the investment offers a gross return of about 6 percent.

‘My life’s work’

“They were engrossed in the buildings and two weeks later they came back and asked me if I would sell the rest,” said Clarkson, 80, who still climbs onto his favorite bulldozer every day and helps with earthworks.

“It was hard to give up the properties, they are nice buildings and my life’s work. I recently realized that the average person works 80,000 hours in their careers; now I’ve worked 247,000 hours. I’ve done the damn hours and I thought ‘fuck ‘I want to clear things up before my health worsens. “

Clarkson has been battling Parkinson’s disease in his arms. “It’s only a problem when I’m stressed. When I’m on the bulldozer, it’s as good as gold.”

In a second deal, Mackersy purchased 22 of Clarkson’s bulk retail and industrial buildings at the Tauriko estate and at Mt Maunganui’s Jean Batten Dr and Aerodrome Rd, next to the airport, for $ 98 million.

Tenants include Bunnings Warehouse, NZL, Steel and Tube, Downer, Crown Lift Truck, Coda / Priority Logistics, and a Jaguar dealer. These properties form a new syndication that is being promoted with a projected gross return of 6.5 percent.

Mitchell Mackersy Lawyers has been operating their commercial property distribution business through the Maori Hill Property for over 25 years and changed their name to Mackersy Property earlier this month, with offices in Queenstown, Dunedin, Christchurch and Tauranga.

Mackersy owns 27 properties privately, 114 through syndicates, including the Spark Central building in Wellington, and has 345 tenants and $ 1.7 billion in assets under management. Its directors are Adam Copland, Dale Robertson, Teresa Wethey, Omea Willows and Hamish Wilton.

Clarkson traveled to Tauranga for five years from Matamata in the 1990s – “He knew all the bumps in the road” – and built nine commercial buildings on McDonald St at the Mount, including one for PlaceMakers, and then another nine at nearby Aviation. Drive. She also built 12 buildings on Maleme St and set the pace for the development of industrial property in Tauranga.

After moving to Tauranga in 1995, Clarkson purchased 8ha and 36 houses in Gate Pa, turning the land into a commercial center that includes Tauranga’s only 10 Mega Miter. He was not interested in retail and sold the development to then business partner and owner of the supermarket, Dean Waddell.
Clarkson returned to what he knew well: industrial property.

“I build buildings that are clean, orderly and easy to maintain; for years and years I am full of tenants. I do not have empty buildings. Why? There is a lot of parking: trucks can circulate through most buildings, that’s the secret”, said.

So what is Clarkson going to do with his money? “I have financed people for the construction of buildings and I will reinvest in industrial land, but it is a problem because the interest rates are so low.

“I’m thinking of buying a sports car, Lamborghini or McLaren. I think I’ll end up with a McLaren, the latest model. It’s like a race car, short and bulky. I’ve worked hard enough to deserve one.” “

So how much will it cost? “$ 450,000, but I’m just in the photography stage. I have to go and look at one. When I get it, I won’t leave it in the garage. I’ll drive it around town, of course I will.” said Clarkson, a former stock car racer.