Mangatawa Papamoa Blocks today signed a commercial lease agreement with Mainfreight. The former owns industrial-zoned land near Baypark and has obtained resource consent to develop an 11.5 ha industrial subdivision. Of that, Mainfreight will lease 7 ha to establish a new transitional freight facility for the Bay of Plenty.

Mangatawa chairman Kevin Haua called it a significant agreement. "We are extremely pleased to have concluded negotiations with Mainfreight today," he said. "By converting our under-utilised land this way, we are able to secure long-term benefits for our shareholders."

According to nzherald.co.nz, Mainfreight group managing director Don Braid said the long-term lease on this land would benefit its people, customers and shareholders. "The length of the lease fits perfectly with our 100-year vision," he said. "Our sustainability and environmental attitudes sit nicely with Mangatawa's own values. It is our intention to bring power from the sun and use rainwater for our facilities."

Mangatawa also owns 101 ha of farmland and has kiwifruit and avocado orchards.

| A FreshPlaza release  ||  March 27, 2018   |||