You are now leaving Centuria New Zealand
and entering Centuria Australia.
The Secondary Market is a service provided by Centuria to allow existing investors the opportunity to liquidate their investments should they have a requirement for cash. This service matches willing sellers and buyers, facilitates the sale and executes the transfer of ownership of investment holdings.
An investor can offer a unit or shares for sale for any reason at all. These reasons range from repaying debt, purchasing other capital assets, helping family, medical expenses or simply allowing for discretionary spending.
The Secondary Market has been available since 2014 and has grown significantly in transactional volumes over that time. The turnover for the FYE 31/3/23 was $9.51m for this platform.
The process for our Secondary Market is that we initially send out a sale of unit/share form for you to complete. At this stage you nominate a price you would be happy to sell the investment for, as facilitators we are unable to advise how much you should sell your investment for, and we recommend you get independent advice.
On return of your sale of unit/share form we will offer the investment to our database (without price) for a period of 10 working days via our Secondary Sale platform.
Following the closing date of your offer period, we will present any offers received to you for consideration and upon a successful sale prepare the documentation for both parties.
Allow up to 60 days for the process assuming the units/shares attract a buyer. All Secondary Sales settle on the last working day of each month.
We initially ask you to advise your price expectations for our information on the Sale of Unit/Share Form and you can opt to list your investment with either:
a) Buy Now price
b) No price and ask for tenders.
Historical Sales data is available on our Secondary Sales website.
Centuria does not act as a broker in these transactions so no you are unable to negotiate with the bidders and we cannot negotiate on your behalf. We facilitate the transaction by providing you with offers from interested parties, for your acceptance or decline.
Yes, you can decline any or all offers should you deem these to be not acceptable to you, then relist for a further sales period or retain your investment.
The cost for us to facilitate the sale and complete all transfer documents is 2% plus GST of the sale price.
Yes, if you have a friend/acquaintance or family member who wishes to purchase your investment, we will also facilitate that private sale. We will prepare the documentation for the ownership transfer however you would handle the financial aspect of the transaction.
The Facilitation fee of 2% + GST would not be applicable.
All secondary sales settle on the last working day of each calendar month and the seller will receive net sale proceeds on this date to their normal distribution account.
We do not transact settlements in the month of December due to holiday office closures for both Centuria and Chapman Tripp Solicitors.
Chapman Tripp Solicitors, located in Auckland, handle all Secondary Sale transactions using their Solicitors Trust account.
The number of transactions vary each month in line with buyer demand. We also have quieter months over the Xmas and New Year period when investors are away and enjoying the holidays.
The month following you taking effective ownership i.e., if you settle on a unit on the 30 June, your effective ownership date is 01 July with your first distribution payment due in August for the full month of July. All distribution payments are paid monthly in arrears.
If no offers are received or the offer/s received are unacceptable to you, your options include relisting for a further period or retaining your units/shares.
Yes, you can list Australian units on the Secondary Market, with the listing process very similar to that of the NZ schemes.
Listing periods are normally July – Sept each year to take advantage of the property valuation Centuria instructs for as part of our Annual Reporting. Outside this period vendors would be liable for the cost of a new property valuation, as required by the Australian Tax Office.
There will also be additional fees applicable including Stamp Duty, Office of Fair-Trading Fee and Legal Fees. Please refer to our Secondary Sales Manager for specific details.
All Australian listings are in AUD and all tenders are made in AUD.
Centuria’s Australian legal counsel – DavidK Lawyers, Brisbane, Australia.
Upon the death of an individual investor, we work with the Estates appointed Solicitor and Executors to administer the investments within the Estate. These can be transferred to Estate beneficiaries or alternatively listed on the Secondary Market for sale with net proceeds then being distributed to Estate beneficiaries by the Estate administrator.
Jointly held investments are transferred to the sole survivor by default and we facilitate this process. Documents are required.
Company, Trust, or Partnership ownership structures continue with amendments deeds provided to us.
Follow the steps below to buy units/shares on the Secondary Market.
Please Note: ‘Buy now’ listings are for the full holding of units/shares only. i.e., if one parcel of 2 units is listed as a “Buy now” then you are agreeing to purchase both units at the ‘Buy now’ price. Buy now parcels listed for sale of both units and shares are unable to be split.
If you wish to select the number of units/shares you would like to bid on, then please select a “Place offer” option.
You will receive immediate onscreen confirmation your buy order has been submitted and email confirmation to your provided email address.
A Centuria representative will contact you following the closing date of your scheme listing to progress the transaction by way of AML customer due diligence (if required), documentation and end of month settlement. Please note that no binding transaction is entered into until AML customer due diligence is complete and you have signed binding transfer documents with the seller.
Watch this short explainer video to see how easy it is to trade on our Secondary Market platform.