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Quarry Capital

Wairakei Road
Property Syndicate

A strategically located commercial property in Christchurch, leased to a market leading tenant, Tait Communications.

Find out more &
register your interest
Property type Warehouse & Office
Property value $4.6 m
Pre-tax cash distributions 7.5%
Portfolio LVR (Loan to Value Ratio) 46.8%
WALT (Weighted Average Lease Term) 7.1 years
Number of interests 48
Initial value of interest $50,000
Investors 12
The investment
  • The investment is a commercial property situated at 540 Wairakei Road, Burnside, Christchurch.
  • Leased to leading New Zealand electronics and communications company Tait Electronics.
  • The property was purchased in April 2018 for $4.321m. At 31 March 2019 the property was revalued by a registered valuer to $4.6m.
  • There is no fixed term for the syndicate.
  • Investors account for their own tax on their share of income. The investment is not a PIE.
The asset
  • The property comprises warehouse and office facilities with a total lettable floor area of 2,122 sqm on 5,049 sqm of land.
  • 69 marked car parks.
  • The building has an NBS rating of at least 67%.
  • The initial lease term is for a period of 8 years with fixed rental increases of 4.5% in 2019, 2022 and 2025 and a market review on the eighth rent anniversary.
  • Two rights of renewal of 3 years each.
The structure
  • The scheme comprises 48 interests of $50,000 each
  • The syndicate is a Proportionate Ownership Scheme and is a “managed investment scheme” for the purposes of the Financial Markets Conduct Act 2013.
    • Eligible investor certification, or
    • Investors investing a minimum of $750,000
  • The scheme is governed by an Ownership and Management Deed that also appoints Quarry Capital as the syndicate manager.
Forecast returns
  • Pre-tax cash distributions are 7.5% paid monthly
Pre-tax cash distributions are 7.5% paid monthly.

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Warning

New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to this offer because there is an exclusion for offers where the amount invested upfront by the investor (plus any other investments the investor has already made in the financial products) is $750,000 or more. As a result of this exclusion, you may not receive a balanced set of information. You will also have fewer other legal protections for this investment. Investments of this kind are not suitable for retail investors. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

This is not an offer to the public

The Information Memorandum contains full details of the investment including how the projected return for the investment is calculated and the rates associated with the investment and return. This document is not an offer of financial products or other invitation to the public to subscribe for any financial products. Applications for investment may only be made by investors certified as eligible investors under section 3(3)(a) of Schedule 1 of the Financial Markets Condut Act 2013 (FMCA) or investors investing a minimum of $750,000 under clause 3(b)(i) and 41 of Schedule 1 of the FMCA. Returns are not guaranteed.