Old Canterbury meat works site on market

Blue lines indicating the land for sale. Photo: SUPPLIED/Colliers

By Monique Steele of RNZ

The site that was home to the Smithfield meat plant in Timaru for nearly 140 years is now on the market.

Alliance Group confirmed the closure of the 139-year-old site and 600 jobs to go with it in October last year, due to New Zealand's declining livestock numbers and weaker demand for red-meat in markets like China.

A month later, the farmer-owned co-operative reported a net loss after tax of $95.8 million in the year to September - $51 million of which went towards the costs of shutting down the Timaru site and redundancies.

The 32.4ha industrial and rural site bordered the Showgrounds retail complex on Bridge St, just north of Timaru.

"The historic Smithfield meat processing plant has been a major icon in this growth location and is now offered to the market for definite sale," the Colliers real estate listing read.

Alliance had largely de-commissioned the meat works operation. Three titles included buildings with cold storage, and service infrastructure including "huge" high power supply and water take, it said.

"A small, protected WW2 observation bunker adds some character to the coastal edge."

The deadline private treaty sale closes on March 26.

The farmer-owned co-op reported a $70 million loss after tax in the year to September 2023 - a serious dive on previous year' $73.6 million profit, which prompted the co-op to ask its shareholders to help raise capital.

It then hired Craigs Investment Partners to explore external capital raise options.