Colebrook Kiwifruit Orchard LP 

  Hort  

  

  MyFarm Limited  

WARNING 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.


PLEASE NOTE: That the units for this offer are partially paid and therefore any Secondary Market unit purchaser will need to pay the balance to the issuer when called. This is not covered in the purchase price of the Secondary market purchase.

Overview

The Offer is to wholesale investors for Units in Colebrook Kiwifruit Orchard Limited Partnership ("the Partnership"), a Limited Partnership to be formed to acquire a 14.86 cha kiwifruit orchard (10.5 cha of SunGold and 4.36 cha of Hayward) located at 66 Colebrook Road, near Edgecumbe in the Eastern Bay of Plenty.


As a Colebrook Kiwifruit Orchard unitholder ('Unitholder'), you will become a Limited Partner in the Partnership.


Subject to the success of this Offer, the Partnership will purchase the Orchard, meet syndicate establishment costs using a combination of $12.5 million of contributed capital to be raised in this Offer and $5.35 million of bank debt, a 30% debt funding level and a 34.9% loan to value ratio (‘LVR’). The LVR is higher than the debt funding ratio because the calculation of LVR excludes establishment fees and costs.


The Offeror reserves the right to use up to a further $2.298 million of bank debt and declare the sale and purchase agreement unconditional once it has received applications for $10.185 million of contributed capital. If only $10.185 million of contributed capital is raised, the LVR post settlement would increase to 50%. The Offeror and associated entities may underwrite $3.0 million of contributed capital for a 4.0% fee payable by the Partnership.


In the event that the Offer is under-subscribed at the Closing Date of 17th July 2020, MyFarm will hold any unsubscribed units as Unpaid Units and continue to market these Unpaid Units on the secondary market after the Offer has closed, at the Offer price of $10,000/Unit.


Up to $0.5 million of over-subscriptions will be accepted. Any over-subscription money will be used to invest in Zespri shares. Over subscriptions are not included in financial forecasts.


The Orchard will be leased to DMS on terms that include a $60,000/cha p.a. base rent paid monthly plus an 85% share of Orchard profits. The lease terms will provide for a term of 10 years with one right of renewal for five years. DMS is a leading Bay of Plenty kiwifruit and avocado orchard management and post-harvest operator. It is locally owned and operated and focused on providing services aimed at increasing orchard productivity and grower profits.


The Offer will be for 1,250 partly paid Units in Colebrook Kiwifruit Orchard LP at an issue price of $10,000/Unit, plus over subscriptions of up to 50 units. Payable at the time of application is $8,000/Unit (80%). The remaining $2,000/Unit (20%) has yet to be called and will be payable on notice from the issuer. The minimum investment will be five Units ($50,000) and thereafter the size of an investment can be increased in multiples of one Unit.


PLEASE NOTE: Any Secondary Market unit purchaser will need to pay the balance ($2,000/unit) to the issuer when called. This is not covered in the purchase price of a Secondary market purchase.


Issuer:
MyFarm Limited
Issue Name:
Colebrook Kiwifruit Orchard LP
Market:
Commercial Property
Market Type:
Hort

isEOI: false

Financials

Investment Type:Wholesale

Wholesale Investment Type: NZ Wholesale MIS

Total Units/Shares:1260

Min Investment Units/Shares:5

Min Investment Value:NZD 50,000.00

Par Value:NZD 10,000.00


Establishment Date: 31 July 2020

Financial Year End: 31 March 2022

Market Snapshot

Last Traded Value: 

Last Traded Price:NZD .00

Last Traded Quantity:

Last Traded Date:

Property Details

The Orchard is situated on Colebrook Road which runs off Gow Road, approximately 5 kilometres south of Edgecumbe. Surrounding development comprises a mix of grazing, cropping and dairy farms, lifestyle blocks, kiwifruit production blocks, local amenities and primary school. The Orchard is a kiwifruit production block (i.e. there is no dwelling) and comprises 10.5 cha of mature SunGold kiwifruit and 4.36 cha of mature Hayward kiwifruit.


Property Name:
Colebrook Orchard
Location:
Rangitaiki Plains
Address:
66 Colebrook Road, Edgecumbe, 3193
Total Area (ha):
21.62
Effective Hectares:
14.86 Cha
Occupant Commencement Term
DMS Group 1/08/2020 10

Contact

Document Name Description Date Uploaded
COLEBROOK - Final Financial Statements - FY 2021 ended 31 03 2021 COLEBROOK - Final Financial Statements - FY 2021 ended 31 03 2021 23 August 2021 Preview/Download
COLEBROOK - Quarterly Report - Q1 - 30 Jun 2021 COLEBROOK - Quarterly Report - Q1 - 30 Jun 2021 13 August 2021 Preview/Download
KIWIFRUIT - Harvest Update - 28 May 2021 KIWIFRUIT - Harvest Update - 28 May 2021 28 May 2021 Preview/Download
COLEBROOK - Quarterly Report - Q4 - 31 Mar 2021 COLEBROOK - Quarterly Report - Q4 - 31 Mar 2021 11 May 2021 Preview/Download
COLEBROOK - Quarterly Report - Q3 - 31 Dec 2020 COLEBROOK - Quarterly Report - Q3 - 31 Dec 2020 17 February 2021 Preview/Download
COLEBROOK - Quarterly Report - Q2 - 30 Sep 2020 COLEBROOK - Quarterly Report - Q2 - 30 Sep 2020 9 November 2020 Preview/Download
COLEBROOK - Investor Introduction - 4 Sep 2020 COLEBROOK - Investor Introduction - 4 Sep 2020 1 November 2020 Preview/Download
Colebrook Limited Partnership Agreement 31July 2020 Colebrook Limited Partnership Agreement 31 July 2020 28 October 2020 Preview/Download
Colebrook Kiwifruit Orchard Limited Partnership IM 24th June 2020 Colebrook Kiwifruit Orchard Limited Partnership Information Memorandum dated 24th June 2020 24 June 2020 Preview/Download
Zoom: 10

MyFarm Limited

 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value NTA Equity Asset Ratio ROE
Aupōuri Avocados LP                  
Awakeri Orchard 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%
Birch Hill LP                  
Central Cherry Orchard LP                  
CQuest 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%
Gold Income LP                  
Gold Income LP - Rangitaiki                  
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                  
Kintyre Vineyard LP - Arck Extension                  
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                  
Quarry Kiwifruit LP - Ohaeawai Extension                  
Riverview Kiwifruit LP                  
Rākete Capital Raise Crown 26 Nov 2020                  
Rākete Orchards Bonus Units 29 Oct 2020                  
Rākete Orchards LP                  
Tapawera Hop Garden LP                  
Te Arai Gold LP                  
Te Arai Orchard 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                  
Willowbank Apples LP                  
Ᾱporo Iti Orchard LP                  
 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Aupōuri Avocados LP            
Awakeri Orchard 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
Birch Hill LP            
Central Cherry Orchard LP            
CQuest 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
Gold Income LP            
Gold Income LP - Rangitaiki            
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            
Kintyre Vineyard LP - Arck Extension            
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            
Quarry Kiwifruit LP - Ohaeawai Extension            
Riverview Kiwifruit LP            
Rākete Capital Raise Crown 26 Nov 2020            
Rākete Orchards Bonus Units 29 Oct 2020            
Rākete Orchards LP            
Tapawera Hop Garden LP            
Te Arai Gold LP            
Te Arai Orchard 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            
Willowbank Apples LP            
Ᾱporo Iti Orchard LP            
 
Issue Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Aupōuri Avocados LP          
Awakeri Orchard LP          
Awatere Valley LP          
Bay Kiwifruit Orchards LP NZD 3.18 NZD 1.69 NZD 1.49 NZD 0.00 NZD 34.64
Birch Hill LP          
Central Cherry Orchard LP          
CQuest LP          
Eastern Orchards LP          
GCF Investments NZD 0.40 NZD 0.39 NZD 0.01 NZD 0.06 NZD 29.56
Gold Income LP          
Gold Income LP - Rangitaiki          
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          
Kintyre Vineyard LP - Arck Extension          
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          
Quarry Kiwifruit LP - Ohaeawai Extension          
Riverview Kiwifruit LP          
Rākete Capital Raise Crown 26 Nov 2020          
Rākete Orchards Bonus Units 29 Oct 2020          
Rākete Orchards LP          
Tapawera Hop Garden LP          
Te Arai Gold LP          
Te Arai Orchard 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          
Willowbank Apples LP          
Ᾱporo Iti Orchard LP          

No trade history available for this issue.

Secondary Market - Colebrook Kiwifruit Orchard LP Wholesale

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