PROVIDA PORTFOLIO SCHEME
This offer closed on 29 September 2017 with the offer being over subscribed.
KEY INVESTMENT HIGHLIGHTS;
8% P.A projected pre-tax cash return forecasted to 31/3/19
Fixed annual rental growth (except in year 7, market reviews capped at +/- 5%)
15 year Triple Net Lease** to Provida Foods Limited***
Tenant offers future expansion opportunities
4 Key Locations (Tauranga, Hamilton, Wiri, Palmerston North)
The Scheme consists of four prime industrial assets which have been developed for Provida, a food distribution business. The properties are ideally located for convenient access to distribution and transport routes across the North Island in sought after industrial high value growth markets. All four premises are maintained to a high standard on large land sites providing future expansion opportunities.
The Properties have been acquired by Silverfin with a leaseback to Provida as a portfolio for $22,195,000. The properties have been individually valued at a total value of $23,150,000, representing a premium to the acquisition price of over 4%. The Property comprises a combined total of 7,637m2 of gross floor area on 30,007m2 of freehold land area. The total initial rental is $1,404,000 per annum.
- 138 Wiri Station Road, Manukau, Auckland
- 27 Sheffield Street, Te Rapa, Hamilton
- 57-65 El Prado Drive, Milson, Palmerston North
- 5C & 5D Macrae Avenue, Mt Maunganui, Tauranga
Provida is a market leader in the transportation of ambient, chilled and frozen goods across New Zealand. Founded in 1991 this distribution business originated in Hamilton, the Company has since established a strategic network of distribution hubs across the North Island. The Provida business today is a strong “Kiwi” owned business boasting 180 staff and a fleet of 70 dual temperature trucks.
GET TO KNOW US. INVEST WITH US.
Silverfin Team Email: firstname.lastname@example.org
Silverfin Offices Contact: 09 216 8626
NB: All facts and figures are stated as at September 2017
*Except in year 7, market reviews capped at +/- 5%.
** Provida is responsible for the cost of all building expenses including repairs and maintenance with the exception of capital costs
***Refer Mt Maunganui, Tauranga 6 year lease
This offer is limited to persons who are who wholesale investors for the purposes of the offer in terms of clause 3(2) or 3(3)(a) of Schedule 1 of the Financial Markets Conduct Act 2013. This includes 'eligible' investors.