Offer Open date: 15 May 2015
Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)
30-32B Birmingham Drive, Middleton, Christchurch is a substantial industrial property located on a 1.8789 ha site in a popular commercial and industrial location. The property has a new 10 year lease to PMP (NZ) Limited from settlement (19th June 2015) with two rights of renewal of 5 years each giving a final expiry of 18 June 2035.
The investment’s projected cash return was 9.0%pa from settlement and for the first full year ending 31 March 2017. Only 120 $50,000 investment units were available and the offer closed oversubscribed.