Open For Investment

Centuria NZ
Healthcare 
Property Fund

Exposure to the sought-after healthcare property
sector with a portfolio of 23 aged care properties
leased to one of New Zealand’s leading and
largest aged care operators, Heritage Lifecare.

 

 

What is a triple net lease?

Each lease is a “triple net lease”. A triple net lease means that Centuria NZ Healthcare, as the landlord, is insulated from all liability in relation to the initial properties to the maximum extent permitted by law. For example, any costs of capital expenditure, repair, maintenance and other works whether structural or otherwise are not Centuria NZ Healthcare’s responsibility. Each lease stipulates the tenant is responsible and has the same liabilities in regards to the premises as if the tenant was the “owner”. This is widely considered the most landlord friendly form of lease.

Key Highlights:

  • This opportunity is brought to you by one of New Zealand’s leading and largest property fund managers, Centuria NZ (formerly Augusta) and now part of ASX 200 listed Centuria Capital, who look after over A$20 billion of assets3 for thousands of investors throughout New Zealand and Australia.
  • 30 year triple net leases with rights of renewal totaling a further 60 years, taking the final expiry through to the year 2112.
  • Annual rental growth built in, linked to CPI, offsetting inflation pressure (minimum 1% maximum 4%).
  • 23 aged care properties providing geographic diversification and exposure to both metropolitan areas and regional areas catering to local demand where bed shortages are expected to occur.
  • Strong tenant and sector – Heritage Lifecare is one of NZ’s leading and largest aged care operators in a sector seeing strong and increasing demand with NZ’s rapidly ageing population. The sector also has high levels of recurring Government funding (estimated at 53% directly from the Government and an additional approximately 24% funded indirectly via residents’ pensions).
  • Portfolio of significant size and scale with a total valuation of $194.9 million4, an increase from the total purchase price of $192.2 million, with this increase directly benefiting investors.
  • Intention to grow over time and increase diversification via strategically selected healthcare related real estate acquisitions.
  • Minimum $10,000 Investment. Centuria have a wide range of investors including those who invest the minimum through to those who invest millions of dollars.

 

Open For Investment 

Centuria NZ
Healthcare 
Property Fund

Exposure to the sought-after healthcare property sector with a portfolio of 23 aged care properties leased to one of New Zealand’s leading and largest aged care operators, Heritage Lifecare.

 

 

What is a triple net lease?

Each lease is a “triple net lease”. A triple net lease means that Centuria NZ Healthcare, as the landlord, is insulated from all liability in relation to the initial properties to the maximum extent permitted by law. For example, any costs of capital expenditure, repair, maintenance and other works whether structural or otherwise are not Centuria NZ Healthcare’s responsibility. Each lease stipulates the tenant is responsible and has the same liabilities in regards to the premises as if the tenant was the “owner”. This is widely considered the most landlord friendly form of lease.

Key Highlights:

  • This opportunity is brought to you by one of New Zealand’s leading and largest property fund managers, Centuria NZ (formerly Augusta) and now part of ASX 200 listed Centuria Capital, who look after over A$20 billion of assets3 for thousands of investors throughout New Zealand and Australia.
  • 30 year triple net leases with rights of renewal totaling a further 60 years, taking the final expiry through to the year 2112.
  • Annual rental growth built in, linked to CPI, offsetting inflation pressure (minimum 1% maximum 4%).
  • 23 aged care properties providing geographic diversification and exposure to both metropolitan areas and regional areas catering to local demand where bed shortages are expected to occur.
  • Strong tenant and sector – Heritage Lifecare is one of NZ’s leading and largest aged care operators in a sector seeing strong and increasing demand with NZ’s rapidly ageing population. The sector also has high levels of recurring Government funding (estimated at 53% directly from the Government and an additional approximately 24% funded indirectly via residents’ pensions).
  • Portfolio of significant size and scale with a total valuation of $194.9 million4, an increase from the total purchase price of $192.2 million, with this increase directly benefiting investors.
  • Intention to grow over time and increase diversification via strategically selected healthcare related real estate acquisitions.
  • Minimum $10,000 Investment. Centuria have a wide range of investors including those who invest the minimum through to those who invest millions of dollars.

 


¹Assuming (i) a tax depreciation benefit based on land valuations and purchase price allocation reports received by Centuria  NZ Healthcare for the Initial Properties, (ii) that Centuria NZ Healthcare does not sell or acquire any properties during the financial periods ending 31 March 2023 and 31 March 2024 and (iii) no change in relevant tax laws. Taxable depreciation recovery income may arise on any future sale of a property which may result in tax payable at that point in time.
²5% p.a. forecast pre-tax and after-tax cash distribution for the financial periods ending 31 March 2023 and 31 March 2024. Details of how the forecast cash distribution is calculated and the risks associated with this investment can be found in the Product Disclosure Statement. Forecast after-tax distributions only take into account New Zealand income tax. The pre-tax and after-tax cash distributions are not guaranteed and may change in the future.
³Assets under management as at 31 December 2021. Includes assets contracted to be settled, cash and other assets.
4Valuation as at 22 December 2021.

Centuria NZ Healthcare Property Fund Limited is the issuer of the shares to be issued under the offer to which this advertisement relates. A Product Disclosure Statement for the offer, which sets out the terms and conditions of the offer, is available, and can be obtained by contacting the Bayleys Real Estate agents listed in this advertisement. Nothing in this advertisement constitutes an invitation to subscribe for, or an offer of shares, securities or financial products to any person, in any country, in which it would be unlawful to do so. Terms used in this advertisement have the same meaning as defined in the Product Disclosure Statement, unless the context suggests otherwise. Before deciding whether to invest, 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 at syndications.co.nz.

You are now leaving Centuria New Zealand
and entering Centuria Australia.

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