Bayleys Syndication and Investment Products - Previous Offers
33-43 Hugo Johnston Drive, Penrose, Auckland
Offer Open date: 12 April 2013
Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)
This large 3.24 hectare property is superbly located in one of Auckland’s most established industrial precincts, Penrose.
At the time of the offer 33-43 Hugo Johnston Drive was the home of the Carter Holt Harvey Limited (Paper Bag Division) with a 10 year lease from settlement (20 June 2013) plus three rights of renewal of 5 years each. The lease provided for annual growth through annual rent reviews to CPI (capped at 2.5% pa) and market reviews every 5 years. A further benefit was the low site coverage which provided significant room for future expansion and the tenant option to require the extension works. The offer projected a 9% pa pre-tax cash return for the first full financial year and raised $9,600,000 (192 x $50,000 units).
In 2015 a significant development of the property was agreed with the tenant and in 2016 investors were given the option to re-invest their $50,000 investment unit in the new offer (and receive the capital gain) or receive the full proceeds from the sale to the new syndication ($59,360).
Details of how the return is calculated and the risks associated with the investment are set out in the original Investment 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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