Tegal Processing Facility for ACC Finance Investments - Technical Due Diligence

Tegal Processing Facility for ACC Finance Investments – Technical Due Diligence

  • Client: ACC Finance Investments
  • Location: Henderson
  • Building Type: CoveKinloch New Zealand Ltd was asked to prepare a TDD for our client ACC Finance Investments, as a potential purchaser for the Tegal Factory premises in Henderson, for which Tegal were intending to complete a sale and lease back agreement.

    The site is a large 77,000m² property in an industrial part of Henderson, made up of an array of buildings totaling 16,000 m², which have been added to and altered since first built in the mid-seventies.

    The building complex houses a range of operations, including food processing, abattoir, lab testing, commercial kitchens and more typical head office functions all on the same site.

    Approximately 600 people are employed on the site.
  • Project Scope:

    Food processing areas are subject to rigorous hygiene requirements and therefore all of our consultants were escorted through the premises and subject to the full health and safety standards, including white gumboots, coats and hair nets.

    Given the number of specialist HVAC, Electrical and Hydraulic systems on site, CoveKinloch appointed their regular team of sub-consultants, led by Jacksons Specialist Engineers for Hydraulics and HVAC, Electrix for electrical and ACH Structural Engineers for the structural IEP of the potential seismic performance.

    CoveKinloch New Zealand Ltd (Fire) undertook a fire and building warrant of witness compliance check. CoveKinloch Building Surveyors did a general building fabric inspection and a measurement of rentable area for industrial premises using the Property Councils Guide.

  • Project Delivery:

    All parties inspected the site and over the course of a week, they prepared their various reports.

    The reports were then integrated into one document and formatted to give consistent descriptions and recommendations for any maintenance repair or replacement to be undertaken over the upcoming 10 year period.

    All the recommendations were then collated into a spreadsheet with expected lifespan, remaining lifespan, total cost and annual projected cost to maintain, repair and replace.

    Just three weeks after accepting the proposal, the CoveKinloch team had completed the site visits, the full report, a peer review of the report and delivery of the report to the client.

    The client was very pleased with the result which provides them with both a summary of condition for lease commencement complete with referenced photographs and a planning/budgeting tool for the upcoming 10 years.