You are now leaving Centuria New Zealand
and entering Centuria Australia.
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 asset was 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 owns 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.
In September 2022, the Fund acquired 40 Clarence Street, Hamilton. 40 Clarence Street is an office building with 14 car parks and is occupied by the Waikato District Health Board. The recent acquisition brings the total number of properties in the Fund to four.
The Fund recently acquired a portfolio of four properties providing long-term stabilised income with fixed rental growth in Blenheim, New Plymouth and two in Christchurch.
These properties benefit from sought after “Triple Net Leases” to Heritage Lifecare with remaining lease terms of approximately 28.7 years and rights of renewal totalling a further 60 years, taking the final expiry through to March 2112.
In addition, a multi-level office building located at 124 Vincent Street, Auckland CBD was acquired in mid 2023. Offering significant value-add potential, the building has eight levels of office and three levels of basement carparking with a net lettable area of 4,284sqm and 63 carparks.
All metrics are as at 30 June 2023
1. Investment Property represents the independent valuations for properties held as at31 March 2023 and the gross acquisition cost for 124 Vincent Street and the four Aged Care properties, including George Manning, Hoon Hay, Maxwell Lifecare and Riverside Lifecare.
Past performance is not necessarily indicative of future performance. Returns may vary and are not guaranteed. No applications are currently being accepted for investment in Centuria NZ Property Fund and its latest offer has closed. Any indication of interest will not involve an obligation or commitment to acquire a financial product. If any future offer is made, it will be made in accordance with the Financial Markets Conduct Act 2013. Prior to making any investment in the future, prospective investors are recommended to seek professional advice from a Financial Adviser which takes into account their personal circumstances before making an investment decision.