Waikerikeri Valley Road 

  Hort  

 Central Cherry Orchard 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

This is an offer to wholesale investors of Units in Central Cherry Orchard Limited Partnership. Your money will be pooled with other investors’ to purchase 96 hectares of bare land located on Waikerikeri Valley Road, Clyde in Central Otago. This is to be developed into an 80 cha cherry orchard over the next three years. Investors will receive cash returns generated by the Orchard and any development margin if sold at any point.


The Orchard is to be developed and managed by Freshmax. Fruit will be contract packed by a number of post-harvest facilities in the Clyde or Cromwell area that Freshmax work with. Once packed fruit will be exported and marketed by Freshmax. Investors will own the assets and receive the net cash returns generated by the Orchard. As Central Cherry Orchard LP unit holder (Unit holder), you will become a limited partner in Central Cherry Orchard LP.


The Offer has now gone unconditional with approximately $10.5 million of investor equity having been raised so far. The plan is to raise a further $3 million taking investors contributed capital to $13.5 million. The remainder of the development will be funded using $5.7 million of bank debt and forecasted cashflow in Year 6.


The budgeted development is expected to cost $249,200/ha, or $19.9 million in total. The initial development stage is expected to take three years with the key limitation being the availability of cherry trees. The property purchase includes 16,500 cherry trees thatwill be planted this coming winter. Freshmax has preferential access to an additional 50,000 trees that will be established the following winter in 2020, with residual trees to be sourced and planted in 2021.


Positive cash returns are only budgeted to start occurring from Year 6 –2025.They initially start at 10% of contributed capital, but are budgeted to quickly build through to 32% in Year 10 –2029


Issuer:
MyFarm Limited
Issue Name:
Central Cherry Orchard LP
Market:
Agriculture
Market Type:
Hort

isEOI: false

Financials

Investment Type:Wholesale

Total Units/Shares:1350

Min Investment Units/Shares:10

Min Investment Value:NZD 100,000.00

Par Value:NZD 10,000.00


Establishment Date: 10 April 2019

Financial Year End: 31 March 2020

Market Snapshot

Last Traded Value:NZD 400,000.00

Last Traded Price:NZD 10,000.00

Last Traded Quantity:40

Last Traded Date: 17 June 2019

Property Details


Property Name:
Waikerikeri Valley Road Property
Location:
Central Otago
Address:
Waikerikeri Valley Road, Clyde, New Zealand, 9391
Total Area (ha):
96
Effective Hectares:
80
Infrastructure:
None - bare land

Contact

Document Name Description Date Uploaded
CENTRAL CHERRY - Limited Partnership Agreement -10 Apr 2019 Central Cherry - Limited Partnership Agreement 10 April 2019 10 July 2019 Preview/Download
CENTRAL CHERRY - Information Memorandum -29 Nov 2018 Central Cherry Orchard Limited Partnership (CCOLP) Information Memorandum dated 29 November 2018 10 July 2019 Preview/Download
Zoom: 10

MyFarm Limited

 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value NTA Equity Asset Ratio ROE
Central Cherry Orchard LP                  
Aupōuri Avocados 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%
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                  
 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Central Cherry Orchard LP            
Aupōuri Avocados LP            
Bay Kiwifruit Orchards LP 1.49 NZD 4.73 NZD 2.51 NZD 2.22 NZD 0.01 NZD 51.51
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            
 
Issue Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Central Cherry Orchard LP          
Aupōuri Avocados LP          
Bay Kiwifruit Orchards LP NZD 3.18 NZD 1.69 NZD 1.49 NZD 0.00 NZD 34.64
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          
Traded Date Traded Quantity Traded Unit Price Traded Value Par Value Trade Event
17 June 2019 40  Units NZD 10,000.00 NZD 400,000 NZD 400,000 Off Market Transfer
17 June 2019 15  Units NZD 10,000.00 NZD 150,000 NZD 150,000 Off Market Transfer

Secondary Market - Central Cherry Orchard LP Wholesale

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