The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
5
print
Print
IndustrialTaryn ParisWed 24 Feb 21

World’s Biggest Pie Factory Hits the Market

bb6daa9c-7d04-480f-a4cb-9c74e3163320

Patties’ Foods is selling off the world’s largest pie factory at Bairnsdale.

The maker of the iconic Four’N Twenty pies has listed the Bairnsdale factory and another site at Pakenham with a 30-year triple net sale and leaseback agreement.

JLL agents Tony Iuliano and Adrian Rowse are marketing the properties in-one-line or as individual sales.

“We expect this notable offering to attract a wide range of investors due to the long term income stream which is secured by an iconic tenant in Patties Foods,” JLL's Tony Iuliano said.

“Throughout 2020 we saw $2.23 billion of industrial investment sales as sale and leaseback transactions and we expect this trend to continue into 2021 and beyond.”

The property at 28-46 Bald Hill Rd at Pakenham was bought in 2018 to expand operations and a $20 million expansion of the Bairnsdale bakery at 160 Princes Highway was commissioned in 2019, making it the world’s biggest pie bakery, sitting on 158,316 square metres.

▲ Patties Foods is selling the world's biggest pie factory, and another factory at Pakenham (pictured). Image: JLL


Patties Foods chief financial officer Siobhan Hammer said they employed 1000 people across Australia and New Zealand and the sale of these sites with a long term leaseback arrangement demonstrated the company’s commitment to producing the iconic Australian meat pie.

“Bairnsdale and Pakenham are two key strategic sites within the Patties Australia portfolio. Bairnsdale is the engine room for Patties running 24-7 on its key lines … Pakenham provides the company with the platform for accelerated growth in the near term.

Hammer said the company recently invested more than $15 million in a fourth production line at Bairnsdale.

“This investment is critical for the strategic growth expansion into export markets with Australia’s favourite meat pie, Four’N Twenty.”

Patties Foods started baking in 1966 at Lakes Entrance and they are now the largest pie manufacturer in the world.

The international expressions-of-interest campaign for 169 Princes Highway, Bairnsdale and 28-46 Bald Hill Road, Pakenham closes 4pm Wednesday, 24 March.

IndustrialAustraliaMelbourneSector
AUTHOR
Taryn Paris
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Azure’s Trent Keirnan on Playing the Long Game

Taryn Paris
5 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
Forme's James Place on James Street, Fortitude Valley Brisbane
Exclusive

Forme Pushes the Boundaries on James Street Precinct

Renee McKeown
4 Min
Exclusive

Invicta House Rebirth Proves Recipe for Heritage Success

Leon Della Bosca
7 Min
Exclusive

Freecity’s $300m PBSA to Prove Worth of Modular at Scale

Leon Della Bosca
7 Min
View All >
Nettleton Tribe Architects' rendering of the new Melbourne Pathology hub on the Costco Docklands site at 331-381 Footscray Road, Docklands.
Planning

Dockside Costco Revamp Plans Win City Endorsement

Marisa Wikramanayake
Ashgrove Cielo Waterworks Rd DA Approval hero
Development

Luxury ‘Urban Village’ Greenlit for Leafy Brisbane Suburb

Phil Bartsch
A rendering of Third.i's masterplanned community Charmhaven on the Central Coast of NSW.
Residential

Thirdi Plans $1.6bn Central Coast Housing Community

Marisa Wikramanayake
The plans for a 2000-home masterplanned community would include a sweetener for the NSW Government…
LATEST
Nettleton Tribe Architects' rendering of the new Melbourne Pathology hub on the Costco Docklands site at 331-381 Footscray Road, Docklands.
Planning

Dockside Costco Revamp Plans Win City Endorsement

Marisa Wikramanayake
2 Min
Ashgrove Cielo Waterworks Rd DA Approval hero
Development

Luxury ‘Urban Village’ Greenlit for Leafy Brisbane Suburb

Phil Bartsch
3 Min
A rendering of Third.i's masterplanned community Charmhaven on the Central Coast of NSW.
Residential

Thirdi Plans $1.6bn Central Coast Housing Community

Marisa Wikramanayake
2 Min
134-136 Botany Road HERO
Office

Six-Storey Scheme Proposed for Booming Botany Road

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/worlds-biggest-pie-factory-on-the-market