Overview
This is an offer to wholesale investors of Units in Awakeri Orchard LP ("the Partnership"), a limited partnership to be formed to acquire Awakeri Orchard, a young Sungold™ kiwifruit orchard near Edgecumbe in the eastern Bay of Plenty. The Orchard is 9.26 cha in size and is being purchased for $9.7 million. Of this area, 3.72 cha cropped for the first time in 2019. The remaining 5.54 cha will crop for the first time in 2020. The Orchard is located at 82A Melville Road, Awakeri. The Orchard will be managed under contract by Southern Cross Horticulture Limited ("SCHL"). SCHL is a Bay of Plenty kiwifruit orchard developer and manager and is locally owned and operated. Subject to the success of this offer (‘Offer’), the Partnership will purchase the Orchard and meet syndicate establishment costs using a combination of $7.8 million of contributed capital to be raised in this Offer and $2.44 million of bank debt, a 24% post settlement loan to value ratio (‘LVR’). Following settlement, further borrowing will be undertaken to meet operating expenses in FY20 ($0.423 million), and to help cash flow the interim distributions in FY21 ($ 0.206 million). Assuming the Offer is fully subscribed, this additional debt will increase total borrowing to $3.1 million, and increase the LVR to 30%. Note, the calculation of LVR excludes establishment fees and costs. The Offeror reserves the right to use up to a further $2.43 million of bank debt and declare the sale and purchase agreement unconditional once it has received applications for $5.4 million of contributed capital. If only $5.4 million of contributed capital is raised, the LVR post settlement would increase to 50%. The Offeror also reserves the right to itself, or through associated entities, underwrite up to $1.0 million of contributed capital for a 2.0% fee payable by the Partnership. Due to the fact that settlement is only 8 days after the closing date, full payment of $10,000/Unit is required at the time of application. The Partnership is expected to provide limited partners with quarterly cash returns at the rate of 5% p.a. after 9 months from the date of purchase of the Orchard, and steady state returns of more than 9.0%p.a. from 21 months after the date of the purchase of the Orchard. The Offer is a Managed Investment Product as defined by the Financial Markets Conduct Act 2013. Your money will be pooled with other investors’ money and invested. The investment is in Units in Awakeri Orchard LP. Awakeri Orchard LP is being formed to purchase Awakeri Orchard.
Financials
Investment Type:Wholesale
Wholesale Investment Type: NZ Wholesale MIS
Total Units/Shares:780
Min Investment Units/Shares:5
Min Investment Value:NZD 50,000.00
Par Value:NZD 10,000.00
Establishment Date: 1 October 2019
Financial Year End: 31 March 2021
Market Snapshot
Last Traded Value:NZD 200,000.00
Last Traded Price:NZD 10,000.00
Last Traded Quantity:
Last Traded Date: 9 October 2019
Property Details
Contact
Document Name | Description | Date Uploaded | |
---|---|---|---|
AWAKERI - Quarterly Report - Q2 - 30 Sep 2020 | AWAKERI - Quarterly Report - Q2 - 30 Sep 2020 | 9 November 2020 | Preview/Download |
FINAL - AWAKERI - Financial Statements - FY 2020 ended 31 March 2020 | FINAL - AWAKERI - Financial Statements - FY 2020 ended 31 March 2020 | 20 August 2020 | Preview/Download |
AWAKERI - Quarterly Report - Q1 - Jun 2020 | AWAKERI - Quarterly Report - Q1 - Jun 2020 | 10 August 2020 | Preview/Download |
AWAKERI - Quarterly Report - Q4 - 31 Mar 2020 | AWAKERI - Quarterly Report - Q4 - 31 Mar 2020 | 14 May 2020 | Preview/Download |
AWAKERI - Due Diligence Report - 16 Sep 2019 | AWAKERI - Due Diligence Report - 16 Sep 2019 | 25 February 2020 | Preview/Download |
Awakeri Orchard Limited Partnership Offer Document 9 Sept 2019 | Awakeri Orchard LP Offer Document 9 Sept 2019 | 9 September 2019 | Preview/Download |
MyFarm Limited
Issue | Production | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value | NTA | Equity Asset Ratio | ROE |
---|---|---|---|---|---|---|---|---|---|
Awakeri Orchard LP | |||||||||
Aupōuri Avocados LP | |||||||||
Awatere Valley 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 | 260,000.00 | NZD 105,060.71 | NZD 101,672.62 | NZD 3,388.09 | NZD 15,010.44 | NZD 7,686,787.99 | NZD 8,069,777.90 | 82.00% | 0.01% |
Heretaunga Orchards LP | |||||||||
HLP Investments LP | 350,580.00 | NZD 1,002,541.49 | NZD 1,107,030.71 | NZD -104,489.22 | NZD 165,967.88 | NZD 13,913,472.49 | NZD 9,749,852.66 | 102.31% | 10.28% |
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% |
Kintyre Vineyard LP | |||||||||
KLP Investments LP | 340,000.00 | NZD 124,140.71 | NZD 54,858.39 | NZD 69,282.32 | NZD 21,529.14 | NZD 12,847,525.52 | NZD 11,210,767.30 | 91.00% | 0.01% |
Korokipo Apple LP | |||||||||
LLP Investments LP | 360,000.00 | NZD 675,599.59 | NZD 175,642.96 | NZD 499,956.63 | NZD 67,968.43 | NZD 8,326,749.30 | NZD 8,646,475.73 | 82.54% | 7.81% |
MyFarm Application Test | |||||||||
Otamarakau Kiwifruit LP | |||||||||
PRD Investments | 320,000.00 | NZD 1,941,943.84 | NZD 1,270,167.21 | NZD 671,776.63 | NZD 141,312.01 | NZD 10,491,531.25 | NZD 9,085,151.22 | 95.63% | 21.37% |
Quarry Kiwifruit LP | |||||||||
Riverview Kiwifruit LP | |||||||||
Rākete Capital Raise Crown 26 Nov 2020 | |||||||||
Rākete Orchards Bonus Units 29 Oct 2020 | |||||||||
Rākete Orchards LP | |||||||||
Tapawera Hop Garden LP | |||||||||
TPLP Investments Limited | 428,256.00 | NZD 1,994,638.25 | NZD 2,266,065.12 | NZD -271,426.87 | NZD 228,502.02 | NZD 19,159,159.67 | NZD 11,059,348.58 | 59.00% | 18.04% |
Waimarie Manuka LP | |||||||||
Wairua Hop Garden LP | |||||||||
Ᾱporo Iti Orchard LP |
Issue | Production | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value |
---|---|---|---|---|---|---|
Awakeri Orchard LP | ||||||
Aupōuri Avocados LP | ||||||
Awatere Valley 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 | 1,140.35 | NZD 460.79 | NZD 445.93 | NZD 14.86 | NZD 65.84 | NZD 33,713.98 |
Heretaunga Orchards LP | ||||||
HLP Investments LP | 1,623.06 | NZD 4,641.40 | NZD 5,125.14 | NZD -483.75 | NZD 768.37 | NZD 64,414.22 |
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 |
Kintyre Vineyard LP | ||||||
KLP Investments LP | 1,069.18 | NZD 390.38 | NZD 172.51 | NZD 217.87 | NZD 67.70 | NZD 40,401.02 |
Korokipo Apple LP | ||||||
LLP Investments LP | 1,333.33 | NZD 2,502.22 | NZD 650.53 | NZD 1,851.69 | NZD 251.73 | NZD 30,839.81 |
MyFarm Application Test | ||||||
Otamarakau Kiwifruit LP | ||||||
PRD Investments | 1,758.24 | NZD 10,670.02 | NZD 6,978.94 | NZD 3,691.08 | NZD 776.44 | NZD 57,645.78 |
Quarry Kiwifruit LP | ||||||
Riverview Kiwifruit LP | ||||||
Rākete Capital Raise Crown 26 Nov 2020 | ||||||
Rākete Orchards Bonus Units 29 Oct 2020 | ||||||
Rākete Orchards LP | ||||||
Tapawera Hop Garden LP | ||||||
TPLP Investments Limited | 1,307.93 | NZD 6,091.80 | NZD 6,920.76 | NZD -828.96 | NZD 697.87 | NZD 58,513.76 |
Waimarie Manuka LP | ||||||
Wairua Hop Garden LP | ||||||
Ᾱporo Iti Orchard LP |
Issue | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value |
---|---|---|---|---|---|
Awakeri Orchard LP | |||||
Aupōuri Avocados LP | |||||
Awatere Valley 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 0.40 | NZD 0.39 | NZD 0.01 | NZD 0.06 | NZD 29.56 |
Heretaunga Orchards LP | |||||
HLP Investments LP | NZD 2.86 | NZD 3.16 | NZD -0.30 | NZD 0.47 | NZD 39.69 |
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 |
Kintyre Vineyard LP | |||||
KLP Investments LP | NZD 0.37 | NZD 0.16 | NZD 0.20 | NZD 0.06 | NZD 37.79 |
Korokipo Apple LP | |||||
LLP Investments LP | NZD 1.88 | NZD 0.49 | NZD 1.39 | NZD 0.19 | NZD 23.13 |
MyFarm Application Test | |||||
Otamarakau Kiwifruit LP | |||||
PRD Investments | NZD 6.07 | NZD 3.97 | NZD 2.10 | NZD 0.44 | NZD 32.79 |
Quarry Kiwifruit LP | |||||
Riverview Kiwifruit LP | |||||
Rākete Capital Raise Crown 26 Nov 2020 | |||||
Rākete Orchards Bonus Units 29 Oct 2020 | |||||
Rākete Orchards LP | |||||
Tapawera Hop Garden LP | |||||
TPLP Investments Limited | NZD 4.66 | NZD 5.29 | NZD -0.63 | NZD 0.53 | NZD 44.74 |
Waimarie Manuka LP | |||||
Wairua Hop Garden LP | |||||
Ᾱporo Iti Orchard LP |
Traded Date | Traded Quantity | Traded Unit Price | Traded Value | Par Value | Trade Event |
---|---|---|---|---|---|
22 October 2019 | 77 Units | NZD 10,000.00 | NZD 770,000 | NZD 770,000 | Off Market Transfer |
18 October 2019 | 20 Units | NZD 10,000.00 | NZD 200,000 | NZD 200,000 | Off Market Transfer |
9 October 2019 | 20 Units | NZD 10,000.00 | NZD 200,000 | NZD 200,000 | Off Market Transfer |
8 October 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
4 October 2019 | 80 Units | NZD 10,000.00 | NZD 800,000 | NZD 800,000 | Off Market Transfer |
4 October 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |