17 Broadway Street, Martinborough
Coolstore property — wine industry infrastructure
IFRS 5 held-for-sale
Parent
Palliser Estate Wines of Martinborough Limited (shares traded on USX, not NZX)
Sector
Property
Business type
Coolstore
Business model
B2B
Location
Martinborough, Wairarapa
FY end
30 June 2025
The signal
Palliser Estate has committed to sell its Coolstore at 17 Broadway Street, classifying it as an IFRS 5 asset held for sale alongside the Weld Street vineyard lots. The Coolstore is surplus to operational requirements under the group's premiumisation strategy and is being actively marketed — part of a disposal program to improve liquidity against an FY25 group loss, a maturing ANZ facility and a Material Uncertainty Related to Going Concern.
Financial snapshot
| Land | $328,000 |
| Buildings | $52,000 |
| Coolstore total carrying value (held for sale) | $380,000 |
| Group total held for sale (incl. Weld Street) | $4,870,000 |
General information
| Accountant | Sidekick Lawson Avery Limited (Chartered Accountants), Masterton |
| Lawyer | JB Morrison Lawyers |
| Banker | ANZ |
| Auditor | Grant Thornton New Zealand Audit Limited (Auckland) |
| FY end | 30 June 2025 |
| Currency | NZ$ |
FS verbatim
"The Board of Directors have committed to sell the Coolstore property at 17 Broadway Street."
FY25 FS p.48 — Note 12 Assets held for sale
Key points
- Coolstore actively marketed for sale alongside Weld Street Lots 2, 3 and 7; surplus to operational requirements under the premiumisation strategy
- Group FY25 total comprehensive loss $(311,390); operating loss before revaluations $(206,458); negative operating cashflow $(463,156)
- ANZ term loan $854,690 expiring 31 March 2026; bank overdraft $639,601 against a $1,000,000 limit; lending extension "yet to be finalised" at FS sign-off
- Material Uncertainty Related to Going Concern (Grant Thornton; opinion not modified) — disposals fund the premiumisation strategy and improve liquidity
Timeline
- FY25Coolstore at 17 Broadway Street reclassified to IFRS 5 assets held for sale ($380,000).
- 29 Sep 2025FY25 financial statements authorised for issue — Grant Thornton flags a Material Uncertainty Related to Going Concern.