Provincia Property Fund 

  Commercial Property  

  

  Provincia Property Management Limited  

WARNING

The law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

If you are a wholesale investor under the definition of that term in clause 3 of Part 1 Schedule 1 of the Financial Markets Conduct Act 2013, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information.

You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.


Overview

Provincia Property Fund Ltd ("Provincia") is an unlisted limited liability company that invests in industrial property. Shareholders own shares in Provincia which in turn directly owns the properties. The opportunity exists for wholesale investors to express interest to invest in Provincia.


Provincia is now seeking to raise $5,317,602 to contribute towards towards the purchase of a property at Greenmount Drive in East Tāmaki, Auckland (under contract) with the balance being funded by bank debt. When purchased the weighted average lease term will increase to 4.5years and the portfolio value to $82m.


The offer is at $1.39 per share (a 4 cent discount to the current share price of $1.43). Priority for investment will be given to existing shareholders but subscriptions from new shareholders will also receive the 4 cent discount.


Provincia invests in quality, mid-sized industrial properties in growth areas of New Zealand that have sound economics. Provincia's strategy is to provide the closest alternative to direct property ownership as possible, targeting a pre-tax cash yield of 5.5% p.a. plus capital growth.


Provincia is an open-ended PIE fund. As such it will continue to add to its portfolio of properties, thereby further diversifying investment risk across multiple properties and tenants.


Provincia currently owns ten industrial properties with a total value of $74 million and combined rental income of $4.1 million p.a.


It is anticipated that Provincia will continue to grow as further investment properties are identified and existing investors will be offered the first opportunity to reinvest.


Shareholders own shares in Provincia and will be entitled to receive dividends. Provincia's current distribution policy is to pay quarterly dividends from distributable profits, targeting a pre-tax cash yield of 5.5% p.a.


Shareholders will also benefit from any increases in the value of the property portfolio which will be directly reflected in the value of the shares they hold.

 

View a copy of the Provincia Investor Statement under the Documents tab.

 

Click Register Interest to get in contact with the manager and express interest or ask for further information.


Issue Type:
Commercial Property
Sector:
Property
isEOI: true

Investment Details

Investment Type: Wholesale

Wholesale Investment Type: NZ Wholesale MIS

Transaction Size:NZD 5,317,602.00

Committed Capital: 

Pre-money valuation: 

Minimum Capital Raise: 

Share Price:NZD 1.43

Unit Price:NZD 0.00

Minimum Investment Size:NZD 50,000.00

Advisor

Provincia Property Fund Limited

Website:

Email: [email protected]

Phone:0800 522 222

Document Name Description Date Uploaded
Provincia Property Fund Investment Statement 8 Sept 2021 29 April 2021 Preview/Download
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