Rua Orchard & Toru Orchard & Freeman's Orchard 

  Hort  

 Aupōuri Avocados LP 

  MyFarm Limited  

The 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 if you are a person who comes within Schedule 1, clause 3(2)(a)-(c) or 3(3)(a)-(b)(ii) (inclusive) of the Financial Markets Conduct Act 2013. This includes 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.
If you fall within Schedule 1, Clause 3 of the FMCA, as a result of this exclusion, you may not receive a complete and 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.

Overview

The investment is in Units in Aupōuri Avocados LP. Aupōuri Avocados LP was formed in October 2018 to purchase the Rua and Toru avocado orchards, in the Far North, comprising 20 cha and 12 cha of planted area respectively. In April 2019, two neighbouring mature and productive orchards, comprising 5 cha and 6.5 cha of planted area respectively were purchased by Aupōuri Avocados LP creating an enlarged orchard area of 43.5 cha. As an Aupōuri Avocados LP unitholder (Unitholder), you will become a limited partner in Aupōuri Avocados LP.


Initially, on 19 October 2018, 605 Units in Aupōuri Avocados LP were issued, at a price of NZD $10,000/Unit. When the purchase of the two additional orchards was settled on 12 April 2019, a further 304 units were issued, at a price of NZD $10,000/Unit to a mix of existing Aupōuri  Avocados LP unitholders who elected to take up pre-emptive rights, and a group of wholesale investors new to the syndicate. The new group of investors included a number of repeat investors from other MyFarm formed syndicates and two wholesale investors whose investment in Aupōuri Avocados LP is their first MyFarm syndicate.


The minimum investment is 10 Units (NZD $100,000) and thereafter the size of an investment can be increased in multiples of one Unit. As a limited partner the maximum amount payable is $10,000/unit. No other payments are required to be made other than those specifically agreed to. The Partnership will invest in the Orchards, using a combination of $9.09 million of contributed capital and $3.053 million of bank debt, a 37% loan to value ratio (LVR). The LVR calculation excludes transaction costs in the calculation of ‘value’.


The Rua and Toru orchards are mature orchards with new avocado trees planted to extend the orchards’ planted area and to replace older trees. The two neighbouring orchards purchased this year, the Freeman’s Orchards (Home Block and the Woolshed Block) are close to the Toru block and have been re-planted and re-developed over the past 8 – 10 years.


At the five year average orchard gate return (“OGR”) price of $20.00 per tray the business starts generating significant operating margins (54%) by 2022. In year 10 the operating margin settles at around 58% with full production yet to be reached. This means that avocado OGR can fall to as low as $10.00 per tray before the Orchards breakeven position is threatened.


Issuer:
MyFarm Limited
Issue Name:
Aupōuri Avocados LP
Market:
Agriculture
Market Type:
Hort

isEOI: false

Financials

Investment Type:Wholesale

Wholesale Investment Type:

Total Units/Shares:909

Min Investment Units/Shares:10

Min Investment Value:NZD 100,000.00

Par Value:NZD 10,000.00


Establishment Date: 19 October 2018

Financial Year End:

Market Snapshot

Last Traded Value: 

Last Traded Price:NZD .00

Last Traded Quantity:0

Last Traded Date:

Property Details

Property Name Location Address
Freeman's Orchard Woolshed Block Northland 57 Hukatere Road, Kaitaia, New Zealand, 0480
Freeman's Orchard Home Block Northland 105 Hukatere Road, Kaitaia, New Zealand, 0480
Rua Orchard Northland 5189 Far North Road, Ngataki, New Zealand, 0484
Toru Orchard Northland 110 Hukatere Road, Kaitaia, New Zealand, 0484

Contact

Website: http://www.myfarm.co.nz/aupouri-avocados

Email: info@myfarm.co.nz

Phone:+64 6 323 2954

Document Name Description Date Uploaded
AUPOURI - Limited Partnership Agreement - including Approved Special Resolution April 2019 AUPOURI - Limited Partnership Agreement - including Approved Special Resolution April 2019 15 October 2019 Preview/Download
AUPOURI - Quarterly Update - Q4 - Jun 2019 AUPOURI - Quarterly Update - Q4 - Jun 2019 17 September 2019 Preview/Download
AUPOURI - Quarterly Update - Q3 - Mar 2019 AUPOURI - Quarterly Update - Q3 - Mar 2019 17 September 2019 Preview/Download
AUPOURI - Quarterly Management Report - Q3 - Mar 2019 AUPOURI - Quarterly Management Report - Q3 - Mar 2019 17 September 2019 Preview/Download
AUPOURI – Freeman’s Extension – Integrated Information Memorandum – 20 Feb 2019 Freeman's Orchards - Aupouri Avocados Integration Information Memorandum - 20 Feb 2019 17 September 2019 Preview/Download
AUPOURI - Letter - Revenue Stream and Forecast Financial Performance Update - 13 Feb 2019 Aupouri Avocado Limited Partnership Partner Update letter -MyFarm 13 Feb 2019 9 July 2019 Preview/Download
AUPOURI - Profit and Loss Actuals + Forecast to 30 Jun 2019 Profit Loss Forecast to 30 June 2019 9 July 2019 Preview/Download
AUPOURI - Freshmax Overview - 13 Feb 2019 Aupouri Avovados LP Freshmax Report Feb 2019 9 July 2019 Preview/Download
AUPOURI - Quarterly Management Report - Q2 - Dec 2018 Aupouri Avocados Limited Partnership - Quarterly Management Report 31 December 2018 9 July 2019 Preview/Download
AUPOURI - Settlement IM - 12 Nov 2018 AUPOURI - Settlement IM - 12 Nov 2018 17 September 2019 Preview/Download
AUPOURI - GP Constitution Aupouri Avocados GP Limited - Constitution 9 July 2019 Preview/Download
SYNDEX - AALP Limited Partnership Agreement 19 Oct 2018 Aupouri Avocado Limited Partnership Agreement 19 Oct 2018 5 November 2018 Preview/Download
AUPOURI - Offer Document - 3 Sep 2018 Aupouri Avocados LP Offer Document 3-09-2018 9 July 2019 Preview/Download
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MyFarm Limited

 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value NTA Equity Asset Ratio ROE
Aupōuri Avocados LP                  
Awakeri Orchard LP                  
Bay Kiwifruit Orchards LP 63,514.00 NZD 201,821.89 NZD 107,160.03 NZD 94,661.86 NZD 215.00 NZD 2,199,868.56 NZD 2,042,400.01 109.00% 9.88%
Central Cherry Orchard LP                  
Eastern Orchards LP                  
GCF Investments 320,000.00 NZD 1,245,126.71 NZD 977,642.18 NZD 267,484.53 NZD 118,262.69 NZD 5,727,950.98 NZD 9,072,573.51 96.00% 0.14%
HLP Investments LP 350,580.00 NZD 632,298.42 NZD 470,229.35 NZD 162,069.07 NZD 54,095.29 NZD 14,484,708.92 NZD 10,407,794.69 109.00% 0.06%
Karaka Orchard Class B Units Partly Paid                  
Karaka Orchards LP 270,600.00 NZD 11,068.00 NZD 12,177.00 NZD -1,109.00 NZD 12,251.00 NZD 9,986,046.83 NZD 4,981,444.00 98.00% 0.22%
KLP Investments LP 350,000.00 NZD 1,517,286.25 NZD 333,662.25 NZD 1,183,624.00 NZD 125,746.41 NZD 2,539,420.06 NZD 9,992,728.32 95.00% 0.15%
Korokipo Apple LP                  
LLP Investments LP 350,000.00 NZD 1,282,105.20 NZD 296,608.24 NZD 985,496.96 NZD 101,418.02 NZD 5,778,501.40 NZD 9,808,322.34 94.00% 0.13%
PRD Investments 320,000.00 NZD 1,023,561.99 NZD 822,067.25 NZD 201,494.74 NZD 103,741.57 NZD 10,472,585.73 NZD 9,016,542.88 95.00% 0.11%
Rākete Orchards LP                  
Tapawera Hop Garden LP                  
TPLP Investments Limited 350,580.00 NZD 1,326,876.74 NZD 940,174.85 NZD 386,701.89 NZD 104,157.93 NZD 6,496,775.01 NZD 10,792,021.36 113.00% 0.12%
Waimarie Manuka LP                  
Wairua Hop Garden LP                  
 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Aupōuri Avocados LP            
Awakeri Orchard LP            
Bay Kiwifruit Orchards LP 1.49 NZD 4.73 NZD 2.51 NZD 2.22 NZD 0.01 NZD 51.51
Central Cherry Orchard LP            
Eastern Orchards LP            
GCF Investments 1,904.76 NZD 7,411.47 NZD 5,819.30 NZD 1,592.17 NZD 703.94 NZD 34,094.95
HLP Investments LP 1,623.06 NZD 2,927.31 NZD 2,176.99 NZD 750.32 NZD 250.44 NZD 67,058.84
Karaka Orchard Class B Units Partly Paid            
Karaka Orchards LP 11,000.00 NZD 449.92 NZD 495.00 NZD -45.08 NZD 498.01 NZD 405,936.86
KLP Investments LP 1,296.30 NZD 5,619.58 NZD 1,235.79 NZD 4,383.79 NZD 465.73 NZD 9,405.26
Korokipo Apple LP            
LLP Investments LP 1,296.30 NZD 4,748.54 NZD 1,098.55 NZD 3,649.99 NZD 375.62 NZD 21,401.86
PRD Investments 1,904.76 NZD 6,092.63 NZD 4,893.26 NZD 1,199.37 NZD 617.51 NZD 62,336.82
Rākete Orchards LP            
Tapawera Hop Garden LP            
TPLP Investments Limited 1,623.06 NZD 6,142.95 NZD 4,352.66 NZD 1,790.29 NZD 482.21 NZD 30,077.66
Waimarie Manuka LP            
Wairua Hop Garden LP            
 
Issue Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Aupōuri Avocados LP          
Awakeri Orchard LP          
Bay Kiwifruit Orchards LP NZD 3.18 NZD 1.69 NZD 1.49 NZD 0.00 NZD 34.64
Central Cherry Orchard LP          
Eastern Orchards LP          
GCF Investments NZD 3.89 NZD 3.06 NZD 0.84 NZD 0.37 NZD 17.90
HLP Investments LP NZD 1.80 NZD 1.34 NZD 0.46 NZD 0.15 NZD 41.32
Karaka Orchard Class B Units Partly Paid          
Karaka Orchards LP NZD 0.04 NZD 0.05 NZD 0.00 NZD 0.05 NZD 36.90
KLP Investments LP NZD 4.34 NZD 0.95 NZD 3.38 NZD 0.36 NZD 7.26
Korokipo Apple LP          
LLP Investments LP NZD 3.66 NZD 0.85 NZD 2.82 NZD 0.29 NZD 16.51
PRD Investments NZD 3.20 NZD 2.57 NZD 0.63 NZD 0.32 NZD 32.73
Rākete Orchards LP          
Tapawera Hop Garden LP          
TPLP Investments Limited NZD 3.78 NZD 2.68 NZD 1.10 NZD 0.30 NZD 18.53
Waimarie Manuka LP          
Wairua Hop Garden LP          

No trade history available for this issue.

Secondary Market - Aupōuri Avocados LP Wholesale

No secondary market listings for this issue availble at this time. Check the Exchange for more listings.