- Centuria moves to fully acquire New Zealand’s Augusta Capital Limited with 90.8% acceptances
- Group AUM A$9.4 billion1
Full takeover of Augusta Capital
As at 6 August 2020, wholly-owned subsidiary Centuria New Zealand Holdings Limited (“Centuria NZ”) had received acceptances for 90.8% of the total ordinary shares in Augusta Capital Limited (“Augusta”).
On Wednesday 12 August 2020, Centuria NZ will hold and control more than 90% of the voting rights in Augusta and will issue a formal notice of its intention to compulsorily acquire the remaining Augusta shares under New Zealand’s Takeover Code.
It is anticipated that full takeover will be completed by mid September 2020.
Augusta Capital Progress
New Zealand was one of the earliest nations to enter a full lock down in response to the COVID-19 pandemic and, accordingly, it is emerging from the pandemic earlier than other countries in the Pan-Pacific region.
As the largest player in New Zealand’s unlisted property fund market, with NZ$1.9 billion in total AUM, Augusta is the first to market with the Augusta Property Fund. The fund is intended be a multiple-asset unlisted vehicle with the initial asset
being the Anglesea Medical Centre located in Hamilton. This is a NZ$55 million acquisition scheduled to close on 11 September 2020 and this fund is expected to grow into a major diversified fund.
Investor response from the Augusta network has been very strong and it is anticipated that the offer will be oversubscribed. Joint CEO’s, John McBain and Jason Huljich, said “Completion of the takeover and integration of the highly experienced Augusta team is a priority. Now we have reached the point of control, we are liaising with the Augusta team on a daily basis to support them in acquiring new assets and with new fund creation. We believe that with appropriate capital and underwriting support and, given the rapid COVID-19 recovery underway in New Zealand, Augusta’s return to profitability is anticipated to be ahead of schedule.”
1 Centuria AUM as at 30 June 2020, Augusta AUM as at 31 March 2020. AUM is calculated assuming Centuria’s offer is successful and Centuria acquires 100% of Augusta, and completion of Centuria Industrial REIT (ASX: CIP) acquisitions.
Centuria NZ and Hancocks create sustainable industrial warehouse in Mangere
Centuria NZ Industrial Fund (“Centuria”) and Hancocks, who are one of the largest distributors of wine and spirits in New Zealand, are working together to further enhance the new, purpose-built 9,811sqm industrial warehouse in Mangere, Auckland, with a focus on reducing the building’s environmental footprint with sustainability initiatives. The 78 Tidal Road property was acquired by Centuria in November 2020.
6-8 Munroe Lane has officially obtained a 5 Green Star – Design & As Built NZv1.0 Certified Design Review rating
We are pleased to announce that Asset Plus‘ 6-8 Munroe Lane project in Albany, Auckland, managed by Centuria New Zealand, has officially obtained a 5 Green Star – Design & As Built NZv1.0 Certified Design Review rating. The green building rating scheme certifies projects that slash waste to landfill, responsibly sources materials and create spaces that better serve the environment and end user.
New healthcare property fund kicks off with substantial aged-care investment
Following on from successful capital raises within both the commercial and industrial property sectors totalling around $240 million last year, a new Centuria managed fund will be seeking $121 million from investors for the launch of a new healthcare property fund. The funds will be used to acquire a total of 23 properties, comprising aged care facilities located throughout New Zealand,
International Women’s Day 2022
This International Women’s Day we asked five Centurians to share their thoughts on being a working woman in 2022. Hear from our colleagues in Auckland, Sydney, Brisbane, Melbourne and Perth.
Centuria Secures $291m Aged Care Property Portfolio
$291m aged care portfolio acquisition; 38 facilities across NZ; blue-chip operator Heritage Lifecare 30-year1 sale and leaseback transaction; triple-net leases; 100% occupancy2 Acquired by two Centuria unlisted funds: Centuria New Zealand Healthcare Property Fund (NZ) – 25 assets Centuria Healthcare Property Fund (Australia) – 13 assets Leading Australasian real estate funds manager,
Billion-dollar Queenstown development dubbed ‘Alpine Britomart’ a step closer to reality
Lakeview | Taumata, the stunning residential, hospitality, and retail precinct planned as an expansion to Queenstown’s CBD has taken a significant step forward with the first stages referred into the Government’s expert consenting panel for consideration under the Fast Track Consenting Act 2020 (FTCA). Lakeview | Taumata sits on a 10-hectare elevated terrace at the edge of the CBD offering iconic views across Lake Whakatipu and the Remarkables.
Centuria NZ Settles the Acquisition of Brand New Industrial Asset on Tidal Road
The Centuria NZ Industrial Fund is pleased to announce the settlement of 78 Tidal Rd, Mangere, Auckland which was finalised on the 22nd of October for $48.9m. The property forms part of South Auckland’s latest high quality industrial and logistics hub and comprises a brand new, architecturally designed 15,000 sqm industrial facility of two warehouses with adjoining offices on a 4.98ha site.
A trans-Tasman ambition fulfilled
Mark Jennings | Newsroom An Australian property company founded by Kiwis aims to become truly Australasian following its local acquisition, Mark Jennings reports. (Content partnership) Fresh out of Auckland University, 21 year old Jason Huljich headed to Australia and got a job with another expat Kiwi trying to sort out problem properties in Sydney – properties that had fallen into disrepair or had lost tenants.
