Countdown wants buddy for $60m Chch distribution centre

The Australian-owned supermarket chain wants to sell and leaseback industrial land. (Image: Deposit Photos)

Mon, 31 Jan 2022

Countdown is looking for a partner to build a $60 million distribution centre near Christchurch, slated for completion next year.The supermarket chain’s owner, Woolworths, wants a long-term partner for a 15-year sale and leaseback to pay for the development at book cost on a 30-hectare site in Rolleston. The offer closes on Feb 24.“Rather than trying to sell the asset at the highest possible value, Woolworths wants to have only the actual costs funded by the buyer with a focus on the return rate and, therefore, occupancy cost being...

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