88 Saint Hill Street 

  Commercial Property  

 88 Saint Hill Street Scheme 

  Silverfin Capital  

This offer by Silverfin Capital Limited is limited to persons who are 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. No product disclosure statement for the purposes of that Act has been prepared and none is required for the wholesale offer. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself. 

 

Overview

Silverfin Capital Limited (‘Silverfin’) offers investors an opportunity, through a proportionate ownership scheme, to acquire a share of a beneficial interest in the land and buildings at 88 Saint Hill Street, Whanganui  (referred to as ‘the Property’). The proportionate ownership scheme (as created by the Deed of Participation) will be known as  the 88 Saint Hill Street Scheme (‘the Scheme’). The Property is a two-level department store of 5,661m² that is fully leased to The Farmers’ Trading Company Limited (‘Farmers’) on a 25-year lease which commenced on 26 February 2015.

184 investment parcels of $50,000 each are being offered in the Scheme. Each party that applies for an interest (‘Interest’), and has its application accepted, will become an investor in the Scheme (‘Investor’). Investors may apply for one or more Interests. Each Investor will  acquire a beneficial interest in the Property. The record of title to the Property will be held by 88 Saint Hill Street Nominees Limited (‘Nominee’) as bare trustee for the Investors.

Key Investment Highlights

  • $50k investment parcels
  • 7.75% projected pre-tax cash return p.a. (projected until 31-3-2021)
  • 100% leased to The Farmers' Trading Company Ltd
  • 25 year lease with 21 years remaining (as at 25-2-2019)
  • New build in 2015 with 100% NBS
  • Annual rent reviews (indexed to inflation)
  • Offer for wholesale/eligible investors only


Issuer:
Silverfin Capital
Issue Name:
88 Saint Hill Street Scheme
Market:
Commercial Property
Market Type:
Commercial Property

isEOI: false

Financials

Investment Type:Wholesale

Total Units/Shares:184

Min Investment Units/Shares:1

Min Investment Value:NZD 50,000.00

Par Value:NZD 50,000.00


Establishment Date: 24 April 2019

Financial Year End: 31 March 2020

Market Snapshot

Last Traded Value: 

Last Traded Price:NZD .00

Last Traded Quantity:

Last Traded Date:

Property Details

The Property is a stand-alone department store that was completed for Farmers in 2015. The two-level department store comprises approximately 5,661m² over the ground and first floors on a 5,986m² freehold site. The Property is situated in a prime inner-city location with dual street frontages to Saint Hill Street and Maria Place with direct walkway access to Victoria Avenue - Whanganui’s main retail street. The building was designed by Ignite Architects Limited. The main contractor was Watts & Hughes Construction Limited and the engineer for the project was BGT Structures Limited (BGT). The structural walls are typically precast concrete and the roof is long run colour steel. The department store is fully air-conditioned and contains two internal escalators as well as two hydraulic elevators, one for customers and the other for goods.


Property Name:
88 Saint Hill Street
Address:
88 Saint Hill Street, Whanganui 4500
Age of Property:
4
Net Lettable Area:
5,661m²
Land Area:
5,986m²
Proportion Occupied:
100.00
Occupant Commencement Term
The Farmers’ Trading Company Limited 26/02/2015 25

Contact

Website: http://silverfin.nz/

Email: info@silverfin.nz

Phone:+64 9 216 8626

Document Name Description Last Update Date
88 Saint Hill Street Scheme Information Memorandum 8 Mar 2019 88 Saint Hill Street Scheme IM 8 Mar 2019 8 March 2019 Preview/Download
Zoom: 10

Silverfin Capital

 
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No trade history available for this issue.

Secondary Market - 88 Saint Hill Street Scheme Wholesale

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