FHP acquires Sorted Logistics asset

FortHill Property (FHP) is pleased to announce the acquisition of Sorted Logistics’ new purpose-built distribution facility in Christchurch.

Located at Hornby’s Waterloo Business Park, FortHill was the take out partner on the development, with the project constructed by Calder Stewart. This acquisition adds to FortHill’s growing investment portfolio, of which now comprises 19 A-grade industrial assets across New Zealand. The new facility includes 17,800m² of 12.5m² stud warehouse, canopy and breezeway along with a standalone 700m² office and car parking. Sorted Logistics (Sorted) is a noted international logistics company with over 200 staff across Christchurch, Auckland, and Sydney.

"This development is a great example of FortHill using its experience and relationships to secure premium grade industrial assets for our investors. As the real estate cycle starts to see green shoots, FortHill will be actively participating in more acquisitions such as Sorted”, says Nick Maier, GM FortHill.

Sorted are an essential service and fit FortHill’s investment mandate of large scale, industrial sector clients. This premium grade asset was designed to satisfy Sorted’s freight operations and provides transportation links to their existing facilities. The new facility features a number of sustainable design elements and will be managed by the FortHill asset and facilities management team.

Sorted have entered into 15 year lease and this new facility adds significant capacity for Sorted and also brings their staff together into a new purpose built headquarters.