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The Centuria NZ Property Fund’s purpose is to provide investors with the opportunity to invest in a portfolio of strategically selected directly owned assets, along with other property related investments in the longer term, within the one investment vehicle.
The intention of the Fund is to grow over time to continue to increase investors’ exposure to a variety of property investments whilst providing regular monthly cash distributions and the potential for capital growth.
All future investments by the Fund will be strategically selected for their ability to continue to increase the diversification (by sector, tenant and location) and contribute to the yield and capital growth.
The Fund’s initial and highest value asset is the Anglesea Medical Centre. Located in Hamilton’s CBD, in Centuria’s opinion, it is one of New Zealand’s largest private health care centres. Anglesea Medical Centre offers income diversification through 28 tenants, many being the Waikato’s leading medical and healthcare providers.
Since the Fund’s establishment, it has also acquired Anglesea Medical Centre’s neighbouring property, 26 Clarence Street, Hamilton. This asset is 100% leased by the Waikato District Health Board on a six-year lease that commenced in March 2021. This acquisition is complementary to Anglesea Medical Centre in both tenant type and the location of the property, which is adjacent to the rear access, providing further options for future redevelopment.
The Fund has also recently acquired a City Fitness Gym building located in a new subdivision within a growth location near Christchurch Airport. Constructed in 2019, this modern facility provides a new 12-year lease term from the settlement date and rights of renewal until 2045 along with a 12 month rental guarantee from the tenant’s parent company.
All metrics are as at 31 October 2021
Centuria Funds Management (NZ) Limited is the issuer of the units to be issued under the offer referred to above. 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 at the link above. Nothing on this page 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 on this page have the same meaning as defined in the Product Disclosure Statement, unless the context suggests otherwise. Prospective investors are recommended to seek professional advice from a Financial Adviser, which takes into account their personal circumstances before making an investment decision.