Bayleys Syndication and Investment Products - Previous Offers
Buildings B & C, 2-4 Graham Street, Central Auckland
Offer Open date: 12 October 2016
Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)
Following the oversubscription of Building A, 2-4 Graham Street, Bayleys Real Estate Limited marketed Augusta’s offer of Buildings B and C in this same substantial new complex.
The property is a newly built, 5 star green design rated, premium grade office building incorporating ground floor retail located on a high profile corner site in Central Auckland. The BDO Centre was awarded the “Best of the Best” Award at the 2016 Property Council New Zealand Rider Levett Bucknall Property Industry Awards, a prestigious acknowledgement of the property, its quality and functionality.
The property has new long term leases in place to several well-known tenants. These include NZME Limited, the unified radio, digital, E-commerce and print operation (includes New Zealand Herald, Newstalk ZB, Grabone) on a 15 year lease with 2 rights of renewal of 6 years each, final expiry 2042. Also Meredith Connell (Crown Solicitors) on 12 + 6 year lease, Kotahi Logistics (freight management partnership formed between Fonterra and Silver Fern Farms) on a 9 + 6 year lease and Maersk Line (the world’s largest container shipping company) on a 9 year lease. Furthermore there are various retail tenancies including Pita Pit, sushi and a full service bar. All leases provide for built in rental growth. The initial forecast pre-tax cash return to investors was 7.0%pa with forecast annual growth to reach 7.75%pa in year 5.
The total investor equity raised was $52.5 million (1,050 $50,000 units). This offer received overwhelming interest and closed with all units allocated.
Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.
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The content of this website is general in nature – it is not intended to be financial advice and should not be relied on when making your investment decisions.
Before deciding whether to invest in any financial products available through Bayleys Real Estate Limited, you should obtain independent financial advice that takes account of your personal financial goals and circumstances.
Bayleys Real Estate Limited cannot provide you with any such independent financial advice. Important information about the financial advice service provided by Bayleys Real Estate Limited is available here. No person including Bayleys Real Estate, our Financial Advisers (selling agents), or the manager of the scheme, guarantees or promises any return to investors.
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