Spicers Limited has put the 56-hectare site of its former Wesley Vale Paper Mill near Devonport on the block and has sold another of its Tasmanian properties for $2.85 million.
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| For Sale - 226 Mill Road in Wesley Vale, Tasmania, the former Wesley Vale Paper Mill |
The move comes weeks after the leading paper merchant and wide format supplier confirmed it had sold its Asian paper businesses to Japan Pulp & Paper company (JPP) - owner of Ball & Doggett - for $15.2m.
In a statement to the ASX, Spicers said its subsidiary company, Tas Paper, had signed a contract to sell 7-15 Reeves Street in Burnie, Tasmania, to Shane and Steven Groves. A sale price of $2.85 million has been agreed between the parties.
Spicers also announced a ‘Sale by Tender’ process for land and buildings it owns at 226 Mill Road in Wesley Vale, Tasmania, the site of the former Wesley Vale Paper Mill. The tender is open to any interested parties and closes at 5:00pm on 14 December 2018.
“The tender is for the sale of the site on an ‘as is’ basis and interested parties will be given full access to carry out their own enquiries and due diligence prior to submitting an offer,” Spicers said.
The site was constructed as a paper manufacturing facility in 1969 and operated for 40 years until manufacturing operations were closed in March 2010.
According to real estate agent NAI Harcourts, the site incorporates improvements with a total area of 29,891 m2 including a large industrial building under one roof; various industrial storage and engineering workshop buildings; an internal road network; a two-level administration building; staff canteen; clarifier; a large water reservoir; and a waste disposal infrastructure. Part of the site is planted with pine plantation timber (20.4 hectares).
The property is located on the northern coast of Tasmania and is approximately 10 kilometres east of the City of Devonport.
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| A 20 hectare pine plantation at Spicer's former Wesley Vale Paper Mill site |
Spicers, formerly PaperlinX, last month paid $9.1 million to PaperlinX Netherlands Holdings Bankruptcy Trustees over the company’s failed attempt to expand into European markets.
