Offer Open date: 1 July 2021

Manager: Centuria

This investment was a single asset, closed-end unlisted property fund that acquired 1 McNab Avenue, Footscray, Victoria, Australia. Bayleys Syndication & Investment Products Team acted as the New Zealand selling agents for Centuria.

Situated within the emerging inner-city suburb of Footscray, approximately 6.5 kilometers from Melbourne’s CBD, the modern A-grade office asset is well positioned to benefit from significant infrastructure investment and forecast population growth within the area.

At the time of the offer, the property was 100% leased, with approximately 91% of income underpinned by the Victorian government and state-owned entities and featured a long term Weighted Average Lease Expiry (WALE) of 11.8 years by income (as at 1 September 2021).

Offer Open date: 5 January 2021

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

The Visy Glass industrial property investment opportunity comprised a substantial 8.576 hectare industrial complex with a 20-year “triple net lease” to a subsidiary of global packaging leader, the Visy Group, well located in a prime position in one of New Zealand’s pre-eminent industrial suburbs, Penrose, Auckland.

The offer was Centuria NZ’s largest single asset offer to date raising $109 million of investors capital.

Offer Open date: 14 July 2020

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Centuria NZ Property Fund’s (formerly Augusta Property Fund) initial asset was the Anglesea Medical Centre located in Hamilton. The property offers income diversification through 28 tenants with a key feature being the tenants’ commitment to the property with the ten largest having been on site for between 10 and 27 years. The 2.4ha site contains three main buildings and is located in a prime corner position benefiting from three road frontages.

The offer was very well received by investors and oversubscribed within 2 weeks. Email syndications@bayleys.co.nz to be kept informed of when Centuria Property Fund re-opens for investment.

Offer Open date: 23 February 2019

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

255-257 Gympie Road, Kedron is a well located, high exposure property comprising three well-presented two storey buildings totalling 4,579sqm of net lettable area located only 7kms from the Brisbane CBD on a major arterial.

Anchor tenant C&K Childcare, established in 1907 and with over 350 centres, are one of Australia’s largest not-for-profit early childhood education providers. Their flagship childcare centre was completed in 2017 with an initial 15 year lease term and their national administration office provides for a new 10 year lease.

Five established tenants, including ASX listed aged care provider Ingenia, provide split risk. Assured rental growth is provided through 3-4% fixed annual rent reviews for all tenants.

The offer raised AU$14.8 million of investor equity comprised of 296 AU$50,000 units with a forecast after-tax cash distribution of 6.1% per annum for the first two financial periods. The offer closed on 18 March 2019 oversubscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 15 February 2019

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Centuria NZ Industrial Fund (formerly Augusta Industrial Fund) is a limited liability company that was established in April 2018 as an open-ended, unlisted property fund. Its purpose is to provide investors with the opportunity to invest in a portfolio of strategically selected industrial assets that provide both tenant and location diversification within this strongly performing sector of the New Zealand property market. Initially comprising of four properties, Augusta Industrial Fund has secured a further five assets, bringing the total portfolio value to $296.7 million. The 47 tenants across nine properties and three cities include global and multinational names such as Toll, Downer, Linfox, Fujitsu and Fletcher Steel along with well-known national tenants such as Macpac, Pacific Steel and Icepak (Hall’s Group).

As with Stage 1.0 of Centuria NZ Industrial Fund, Stage 2.0 of the investment was available in multiples of $1,000 (minimum of $10,000) and offered an initial forecast pre-tax cash return of 6.5% per annum paid monthly.

Once again, the lower minimum investment, strongly performing industrial property sector and the attraction of a fund investment resulted in a huge number of enquiries (the greatest on record to date), and the offer closing over-subscribed. Email syndications@bayleys.co.nz to be kept informed of when Centuria NZ Industrial Fund re-opens for investment.

Offer Open date: 18 July 2018

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

The St Georges Bay Road offer provided the opportunity to invest in a brand new, 5 green star design rated, premium grade office complex, comprising of four levels of office accommodation and three ground floor retail premises, located in the sought-after central Auckland location of Parnell.

Constructed by one of New Zealand’s leading property developers, Mansons TCLM Limited, the property has long leases to well-known tenants, including Xero Limited, the anchor tenant, an ASX listed accounting software company with an initial lease term of 12 years and rights of renewal until 2042. Other major tenants, both with 10 year leases, which have made the property their new corporate headquarters are Harrison Grierson, a well regarded engineering consultancy, and Independent Liquor NZ Limited, a member of the multi-national Asahi Group Holdings Limited.

The offer comprised of 1,370 $50,000 units. The offer opened on 18th July 2018 with all units allocated quickly, some four weeks before the close date.

Offer Open date: 8 May 2018

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Centuria NZ Industrial Fund (formerly Augusta Industrial Fund) is a limited liability company that was established as an open-ended, unlisted property fund to invest in a portfolio of strategically selected industrial assets. It provides both tenant and location diversification within New Zealand’s strongly performing industrial property sector with a key objective of providing sustainable and stable income with the potential for capital growth.

Initially comprised of four well located industrial assets with 100% occupancy to 15 global and national tenants, Centuria NZ Industrial has grown over two subsequent capital raised to increase the total portfolio value to $547 million (at the time of the third offer), spread across 52 tenants and 21 strategically selected quality properties; 18 located in Auckland, one in Wellington and two in Christchurch. Further information on the subsequent capital raises is available at these links. Centuria NZ Industrial – Capital Raise Two; Centuria NZ Industrial – Capital Raise Three.

This initial $75 million share offer provided the opportunity to become a foundation investor with a minimum investment of $10,000 and $1,000 increments thereafter and offered an initial forecast pre-tax return of 6.5% per annum paid monthly.

The lower minimum investment (a first for Augusta Funds Management Limited), the strongly performing industrial property sector and the attraction of a fund investment resulted in the greatest number of enquiries on record at the time and the offer closing over-subscribed. Email syndications@bayleys.co.nz to be kept informed of when Centuria NZ Industrial Fund Limited re-opens for investment.

Offer Open date: 29 March 2018

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

This offer provided the opportunity to invest in a substantial office complex with a new 25 year lease to the State Owned Enterprise tenant Airways Corporation on the majority of the property with built in rental growth. The SOE provides air traffic control and infrastructure across 30 million square kilometres of airspace in New Zealand and over the Pacific.

The long term lease was agreed in conjunction with a brand new high specification building to be constructed on the site. A further separately titled property was leased for nine years providing an impressive weighted average lease term of 21.83 years.

The forecast pre-tax cash return was 7%p.a.* for the first two full financial years and the offer raised $22.75m of investors equity comprised of 455 $50,000 units.

With a government owned tenant, the length of lease security and the rental growth provisions, the demand for this offer was unprecedented. The offer closed oversubscribed with numerous enquiries still being received after the closing date.

*Details
Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 12 April 2017

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

741 Nudgee Road, Northgate, Brisbane is a modern industrial building located on a high exposure corner site close to major arterial roading networks and only 5 minutes from the Brisbane Airport and 9.5km from the CBD.

The property is tenanted by Health World Limited, established in 1985 they are one of the largest suppliers of natural medicines (vitamins and health supplements) in New Zealand and Australia. At the time of the offer there was 11.5 years to run on the current lease term with rights of renewal until 2034 along with built in rental growth with minimum 3% annual increases and market reviews every 3 years (rental cannot decrease on market review).

The forecast pre-tax cash return was 7.35%pa for the first financial period (with no tax payable) with growth to 8.00%pa by year three. The offer was structured under the Foreign Investment Fund regime which can result in potential taxation benefits for New Zealand investors.

The offer raised AUD$17.75m of investors equity comprised of 355 AUD$50,000 units. There was an unprecedented response for an Australian investment opportunity with record numbers of potential investors making contact. The offer closed oversubscribed with numerous enquiries still being received after the closing date.

Augusta partnered with Australian-based funds manager DDH Graham Limited to establish an Australian registered managed investment scheme. DDH Graham Limited is the responsible entity and issuer of the Product Disclosure Statement for the Augusta Nudgee Road Property Trust. Augusta Funds Management is the asset manager. Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 12 April 2017

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

This offer provided the opportunity to invest in the development of a brand new, premium 5 green star office complex located on a prime corner site at 33 Broadway in the well regarded suburb of Newmarket, Auckland.

The building is now complete and features the new headquarters of one of New Zealand's largest and most well-known companies, Mercury NZ Limited. Mercury is listed on both the NZX Main Board and ASX and majority owned by the New Zealand Government. Mercury currently leases approximately 60% of this state of the art complex on a 12 year lease (from completion of the development) with two rights of renewal of six years each. The other major office tenant is Tegel Food Limited, the main operating subsidiary of NZX listed Tegel Group Holdings Limited, New Zealand's market-leading poultry producer.

The forecast pre-tax return was 7%pa for the first three financial periods. The number of enquiries received from potential investors, along with the number of investors was the greatest to date.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement

Offer Open date: 12 October 2016

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Following the oversubscription of Building A, 2-4 Graham Street, Bayleys Real Estate Limited marketed Augusta’s offer of Buildings B and C in this same substantial new complex.

The property is a newly built, 5 star green design rated, premium grade office building incorporating ground floor retail located on a high profile corner site in Central Auckland. The BDO Centre was awarded the “Best of the Best” Award at the 2016 Property Council New Zealand Rider Levett Bucknall Property Industry Awards, a prestigious acknowledgement of the property, its quality and functionality.

The property has new long term leases in place to several well-known tenants. These include NZME Limited, the unified radio, digital, E-commerce and print operation (includes New Zealand Herald, Newstalk ZB, Grabone) on a 15 year lease with 2 rights of renewal of 6 years each, final expiry 2042. Also Meredith Connell (Crown Solicitors) on 12 + 6 year lease, Kotahi Logistics (freight management partnership formed between Fonterra and Silver Fern Farms) on a 9 + 6 year lease and Maersk Line (the world’s largest container shipping company) on a 9 year lease. Furthermore there are various retail tenancies including Pita Pit, sushi and a full service bar. All leases provide for built in rental growth. The initial forecast pre-tax cash return to investors was 7.0%pa with forecast annual growth to reach 7.75%pa in year 5.

The total investor equity raised was $52.5 million (1,050 $50,000 units). This offer received overwhelming interest and closed with all units allocated.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 27 May 2016

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Building A of the recently renamed BDO Centre, located at 2-4 Graham Street Central Auckland, is a premium grade, 5 green star design rated office building.

The property has new long term leases to well-known tenants. Firstly, NZME, the unified radio digital, Ecommerce and print operation (includes New Zealand Herald, Newstalk ZB, Grabone) on a 15 year lease with 2 rights of renewal of 6 years each, final expiry 2042. Also Meredith Connell (Crown Solicitors) on 12 + 6 year lease and Pernod Ricard (global alcohol brand owner) on 10 + 6 year lease. All leases provide for built in rental growth.

At the time of the offer, level three of the building was under negotiation and was subsequently leased to global business advisory firm BDO, an international network of public accounting, tax and advisory firms with 64,300 people working out of over 1,400 offices worldwide. Along with taking a 9 year lease, BDO also took the naming rights for the complex as a whole.

The forecast pre-tax cash return was 7% per annum for the period from 16th August 2016 to 31st March 2017, increasing annually to reach 8% per annum for the year ending 31 March 2021. The $70 million (1,400 $50,000 units) capital raise was at the time our largest to date and at the time recorded the highest ever number of enquiries and investors in a single offer. This unprecedented demand led to the offer being oversubscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 21 April 2016

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

76 Quinns Hill Road East, Stapylton in Queensland is a substantial industrial property located off the major freight route between Brisbane and the Gold Coast. The property is comprised of two freestanding high stud warehouses with modern offices constructed in 2011 and a new 1,192sqm warehouse extension that was completed prior to settlement of the property (18 July 2016).

The property is leased to two long term tenants, namely Nu-Pure Pty Limited who have a 9 year lease term and A&L Windows (Qld) Pty Limited who have a 13.5 year lease term from settlement (18 July 2016). Both leases have rent review provisions with built in annual growth - a minimum of 4% for Nu-Pure and 3.5% for A&L Windows. Augusta established an Australian limited liability partnership (LLP) which acquired this property. The Quinns Hill Road LLP comprised of 280 units of A$50,000 each, a total equity raise of A$14,000,000. The projected pre-tax operating return for the LLP for the full year ending 30 June 2017 was 7.65%.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 26 February 2016

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A substantial industrial property on a 3.24 hectare site in a sought after Auckland industrial location. The property is leased to Oji Fibre Solutions (NZ) Limited (who was previously known as Carter Holt Harvey Pulp and Paper Limited) on a 15 year lease team from 1 April 2016 (with built in annual growth) and two rights of renewal of 10 years each.

This property was previously owned by another syndication managed by Augusta. A significant development of the property was agreed with the tenant, with investors given the option to re-invest their $50,000 investment unit in the new offer (and receive the capital gain) or receive the full proceeds from the sale to the new syndication ($59,360)

The projected pre-tax return for the first full year ending 31 March 2017 was 8.25%. The total equity raised was $17 million, comprised of 340 $50,000 units. There was immense interest in this offer which closed fully subscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 5 February 2016

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Value Add Fund No.1 offered $60 million ordinary shares in a portfolio of five prime Auckland commercial and industrial buildings, with an independent valuation of $111,835,000.

The opportunity was open to Wholesale Investors only and required a minimum investment of $200,000. The Fund is structured as a closed end, fixed term fund whereby all assets are intended to have the value added (by re-leasing or re-zoning for example) and the asset sold within 5 years. The target internal rate of return was 11%-14% pa (after all fees and expenses, but before investor tax).

The Value Add Fund No.1 was the first portfolio investment opportunity Augusta had undertaken. It received considerable interest and closed fully subscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Information Memorandum.

Offer Open date: 30 November 2015

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

160 Peachgrove Road, Hamilton is situated on a main arterial road and is only a short distance from Hamilton’s CBD. The property boasts a new Countdown Supermarket, which began trading just before settlement. The supermarket has a 15 year lease from the settlement date (22 December 2015) with a potential total lease term of 45 years (6 rights of renewal of 5 years each).

The offer had 220 units of $50,000 each and a projected cash return of 7.5% per annum for the first full year ending 31 March 2017. The Peachgrove opportunity closed significantly oversubscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

Offer Open date: 23 November 2015

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

146 Shands Road, Hornby, Christchurch is Progressive Enterprise’s only South Island distribution centre. This substantial industrial property was originally built in 2000 with significant alterations undertaken in 2012. It occupies a prominent corner location in the well regarded industrial suburb of Hornby. The property has a 20 year lease from the 30 August 2004, plus 3 rights of renewal of 10 years each, providing a final expiry of 29 August 2054.

The offer comprised of 503 units of $50,000 each, with the vendor subscribing for 120 units, leaving 383 available for investment. The projected cash return was 8% per annum for the first full year ending 31 March 2017. The Shands Road opportunity closed significantly oversubscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

Offer Open date: 23 September 2015

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

373 Sherbrooke Road, Willawong, is a modern industrial property located in Brisbane built in June 2015. The property has an 8 year lease from 16 June 2015 to Akzo Nobel Pty Ltd, a 100% subsidiary of the Akzo Nobel global paint and coatings group whose major brands include Dulux, Sikkens and International. The lease provides for rights of renewal until 15 June 2033 and annual rental growth with the rent reviewed to the greater of CPI (Brisbane) or 3.50% pa from the previous year’s rental for the first 8 year term of the lease.

Augusta established an Australian limited liability partnership (LLP) which acquired the property. The opportunity offered 135 proportionate interests for A$50,000, a total raise of A$6,750,000. The projected pre-tax cash return for the partnership was 8.14% for the first full year ending 30 June 2017.

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

Offer Open date: 15 May 2015

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

30-32B Birmingham Drive, Middleton, Christchurch is a substantial industrial property located on a 1.8789 ha site in a popular commercial and industrial location. The property has a new 10 year lease to PMP (NZ) Limited from settlement (19th June 2015) with two rights of renewal of 5 years each giving a final expiry of 18 June 2035.

The investment’s projected cash return was 9.0%pa from settlement and for the first full year ending 31 March 2017. Only 120 $50,000 investment units were available and the offer closed oversubscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

Offer Open date: 6 March 2015

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

The Southgate Retail Centre is a modern, freehold shopping centre anchored by Mitre 10 Mega on a 13 year lease from 30 April 2015. The retail centre is located on a significant 4.5 hectare high profile corner site in the growth Auckland location of Takanini. The investment provided exposure to the retail sector at the time of offer, with tenants including national brands Briscoes, Repco, Mad Butcher, Subway, ANZ & Carl’s Jr.

The offer raised $34.3 million of investor’s equity comprised of 686 $50,000 units.

Offer Open date: 15 December 2014

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

121 Evans Road is located in the established industrial precinct of Salisbury, Brisbane, less than 10km from the Brisbane CBD. The property is leased to Orrcon Manufacturing Pty Limited, a leading Australian distributor and manufacturer of steel, tube and pipe for five years from settlement (4 May 2015) with a 5 year right of renewal. The lease provides annual rent reviews between 3%-5%.

Augusta established an Australian limited liability partnership (LLP) which acquired the property. This opportunity was only open to Qualifying Investors and required a minimum investment of $200,000 (4 x $50,000 units). The total equity raised was $4 million comprised of 80 investment units. The projected pre-tax annual return for the LLP was 9.14% for the first full year ending 30 June 2016.

Details of how the return is calculated and the risks associated with the investment are set out in the original Information Memorandum.

Offer Open date: 28 October 2014

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

54 Vickery Street is a large 2.62 hectare industrial complex with wide road frontage, located in the established industrial precinct of Te Rapa, Hamilton. The property is subject to two 8 year leases from 1 November 2014 to Timpack Industries Limited, a nationwide company who is one of New Zealand’s major suppliers of timber based packaging.

This opportunity was only open to Qualifying Investors and required a minimum investment of $200,000 (4 x $50,000 units). $6,750,000 in investor equity was raised with the Vendors agreeing to subscribe for $1,000,000, leaving 115 Proportionate Shares or $5,750,000 available for subscription by Qualifying Investors. The projected pre-tax annual return was 8.75% for the first full year ending 31 March 2016.

Details of how the return is calculated and the risks associated with the investment are set out in the original Information Memorandum.

Offer Open date: 9 July 2014

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

74 Branston Street is located in the established commercial precinct of Hornby, Christchurch. The Property is subject to a 15 year lease to Amcor Flexibles (New Zealand) Limited, a New Zealand incorporated subsidiary of ASX listed Amcor Limited, from settlement (28 November 2014). The lease provides for fixed annual 2.5% increases in rent with a review to market after 10 years.

This opportunity was only open to Qualifying Investors and required a minimum investment of $250,000. 23 units were sold down at $250,000 each with a 9.25% projected pre-tax cash return for first full year ending 31 March 2016.

Details of how the return is calculated and the risks associated with the investment are set out in the original Information Memorandum.

Offer Open date: 24 July 2014

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Building C of 167-191 Victoria Street West, Auckland is an award winning premium grade office building. The property is situated on a high profile corner position in a growth central Auckland location. The tenant Spark New Zealand Trading Limited (previously Telecom) has a 10 year lease in place from 1 June 2014, with 2 rights of renewal of 6 years each.

The Spark City investment offered a projected cash return of 8% per annum for the first full year ending 31 March 2016. The offer sought $39 million of investor’s equity, comprised of 780 $50,000 parcels and received unprecedented interest.

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

Offer Open date: 4 April 2014

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Bunnings Warehouse is located on a high profile site of 2.57 hectares in the growth location of Silverdale, Auckland. It has a 12 year lease from 25 March 2014 with rights of renewal out to 2048. The lease provides for annual growth through fixed annual 3% rent reviews for the first 12 year term of lease.

The projected cash return for the first full year ending 31 March 2016 was 8.0%pa. Investors were offered a total of 254 units at $50,000 per unit. This offer received very high levels of interest and was significantly oversubscribed.

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

14 October 2013 - Centuria Property Funds Limited

This investment was a single asset, closed-end unlisted property fund that acquired a 50% interest in 8 Central Avenue, Australian Technology Park, Sydney NSW. Bayleys Syndication & Investment Products Team acted as the New Zealand selling agents for Centuria (a large Australian syndicator who has completed over 30 funds with a combined value of in excess of $1.2 billion).

This impressive office complex was built in 2010 and is strategically located within the Australian Technology Park (ATP), approximately 2.5 kilometres south of the Sydney GPO, and within 400 metres of both Redfern Train Station and the University of Sydney. At the time of the offer major tenants included Seven West Media Group and NSW State Government with a weighted average lease expiry of 12.67 years by income. The minimum investment was A$50,000 with A$5,000 increments thereafter. The annualised forecast distributions were 8.70% for Year 1 & 9.10% for Year 2%.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 26 June 2013

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

12 Brick Street is an impressive industrial property located in Henderson, Auckland. This property has a 20 year lease from 28 March 2013 (with a right to surrender on the 15th anniversary of the lease’s commencement with 18 months’ notice) to D&H Steel Construction Limited. The lease provides for growth through annual rent reviews to CPI and market reviews every 5 years (adjustment on market reviews subject to a cap of 110% and a collar of 90%).

The investment opportunity offered a projected pre-tax cash return of 8.5% for the first full year period. The offer raised $11 million in investor equity comprised of 210 $50,000 units and was available only to Qualifying Investors.

Details of how the return is calculated and the risks associated with the investment are set out in the original Information Memorandum.

8 May 2013 - Centuria Property Funds Limited

This investment was a single asset, closed-end unlisted property fund that acquired the substantially refurbished 14 level office tower at 10 Spring Street, Sydney. Bayleys Syndication & Investment Products Team acted as the New Zealand selling agents for Centuria (a large Australian syndicator who has completed over 30 funds with a combined value in excess of $1.2 billion).

The property is located in Sydney’s core financial precinct with a total net lettable area of 13,871sqm. At the time of the offer the property was 81% occupied with a mix of government, education, financial and logistics tenants and the potential to add value via leasing along with foyer refurbishment and repositioning of retail. The minimum investment was A$50,000 with A$5,000 increments thereafter. The annualised forecast distribution for the first year was 8.00%pa.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 12 April 2013

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

This large 3.24 hectare property is superbly located in one of Auckland’s most established industrial precincts, Penrose.

At the time of the offer 33-43 Hugo Johnston Drive was the home of the Carter Holt Harvey Limited (Paper Bag Division) with a 10 year lease from settlement (20 June 2013) plus three rights of renewal of 5 years each. The lease provided for annual growth through annual rent reviews to CPI (capped at 2.5% pa) and market reviews every 5 years. A further benefit was the low site coverage which provided significant room for future expansion and the tenant option to require the extension works. The offer projected a 9% pa pre-tax cash return for the first full financial year and raised $9,600,000 (192 x $50,000 units).

In 2015 a significant development of the property was agreed with the tenant and in 2016 investors were given the option to re-invest their $50,000 investment unit in the new offer (and receive the capital gain) or receive the full proceeds from the sale to the new syndication ($59,360).

Details of how the return is calculated and the risks associated with the investment are set out in the original Investment Statement.

21 November 2012 - Centuria Property Funds Limited

This investment was a single asset, closed-end unlisted property fund that acquired the commercial property located at 175 Castlereagh Street, Sydney CBD, Australia. Bayleys Syndication & Investment Products Team acted as the New Zealand selling agents for Centuria (a large Australian syndicator who has completed over 30 funds with a combined value in excess of $1.2 billion).

The building comprises of 4 levels of basement car parking, two ground floor retail tenancies and thirteen upper levels of office accommodation. It is located in the midtown precinct of Sydney CBD that has undergone recent revitalisation and had been substantially refurbished. At the time of the offer the offer the property was 93% leased (55% leased to the NSW State Government). The minimum investment was A$50,000 with the annualised forecast distribution starting at 9.0% pa growing to 9.25% in year two.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

12 September 2012 - Centuria Property Funds Limited

This investment was a single asset, closed-end unlisted property fund that acquired the commercial property located at 19 Corporate Drive, Cannon Hill, Brisbane, Australia. Bayleys Syndication & Investment Products Team acted as the New Zealand selling agents for Centuria (a large Australian syndicator who has completed over 30 funds with a combined value in excess of $1.2 billion).

At the time of the offer the property was 100% leased with 83% of tenants (by net lettable area) being government or multi-national groups. It is centrally located within the Southgate Corporate Park precinct, just 6km east of the Brisbane CBD and in close proximity to the Cannon Hill train station. The annualised forecast distributions were 9.75% for Year 1 & 10% for Year 2.

Details of how the return is calculated and the risks associated with the investment are set out in the original Product Disclosure Statement.

Offer Open date: 6 July 2012

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

360 Dominion Road sits on a prominent, high profile 8,090 square metres mixed use site with three street frontages. In addition to being only 5kms south of the CBD, the Property is easily accessible with motorway access via nearby interchanges and other options including bus and rail. At the time of the offer the property was subject to a single lease to ASB Bank on a 12 + 6 year lease from 1 July 2012. Annual rental growth was provided for with fixed annual 2.5% rent reviews until 2024. The minimum investment was $50,000 with a total of 340 units available. The $17 million equity raise was completed in record time with very high levels of enquiry.

The property as a whole was subsequently sold in 2016 with investors receiving $73,592.00 per unit providing investors with an IRR of 18.17%

Details of how the return is calculated and the risks associated with the investment are set out in the original Offeror's Statement.

Offer Open date: 23 April 2012

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

308 Barton Street is a well located retail and carparking property in Central Hamilton. At the time of the offer the property was leased to JB Hi-Fi on a 12 + 5 + 5 Year lease from 5 March 2008 with 5% p.a. fixed annual rent reviews during the initial term, and Wilson Parking on a 5 + 5 Year Lease from 1 May 2010 with two yearly CPI rent reviews. Only 68 interests were available at $50,000 each.

Offer Open date: 24 February 2012

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A well located industrial property, leased to iconic NZ “household name” Carter Holt Harvey Limited. The property is subject to a 13 + 6 + 6 year lease from April 2008 with fixed annual rent increases of 3% for the years 2012 to 2016 and a mixture of fixed and market reviews beyond that. A total of 87 units were offered at $50,000 each.

Offer Open date: 4 November 2011

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

This Countdown Supermarket is located on a prime high profile State Highway One site in Huntly. The property is subject to a 20 year lease from settlement with further rights of renewal totalling 40 years.

A total of 109 units were offered at $50,000 each and the offer closed over subscribed.

Offer Open date: 16 March 2011

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A substantial 7 hectare industrial complex strategically located in New Zealand’s horticultural hub. The property is leased to ENZAFoods New Zealand Limited, one of the most recognised fruit brands in the world. The long lease of 13 years and 8 months from 1 January 2008, with one further right of renewal for nine years also provides for built in annual rental growth.

220 units were offered at $50,000 each with a successful raise of $11 million in investor equity.

Offer Open date: 5 November 2010

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Investors were offered the opportunity to participate in the ownership of the Countdown Supermarket, the anchor tenancy at Westgate Shopping Centre, Westgate, Auckland. This large format supermarket has a 15 year lease in place from 1 December 2008 with renewal terms through to 2041.

192 units in the syndication were offered at $50,000 each, with $9.6m in total investor equity raised.

Offer Open date: 7 September 2010

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A large format Bunnings Warehouse located on a prominent site on State Highway One, Whangarei. The property is leased to Bunnings Limited on a 12 year term from 2007 with rights of renewal through to 2044. The lease also provided for 3% annual rental growth during the initial lease term.

160 $50,000 shares were sold to investors raising $8 million in equity.

Offer Open date: 30 July 2010

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Investors were offered the opportunity to participate in the ownership of the Countdown Supermarket, the anchor tenancy at Fraser Cove Shopping Centre, Tauranga. The supermarket was new, only opening the year prior to the offer to invest, with a 15 year lease in place, renewal terms running through to 2042 and three yearly rent reviews.

A total of 183 $50,000 units were sold to investors

Offer Open date: 6 May 2010

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A 1,258 sqm commercial building with 59 on site car parks located on a high profile site with frontages to George Bolt Memorial Drive and Amelia Earhart Drive. The property benefits from its close proximity to Auckland International Airport and Auckland’s motorway systems.

The Property is leased to Downer EDI Properties Limited as their corporate headquarters on a 12 year lease from 8 March 2010. Two further rights of renewal of five year each are provided for.

45 units of $50,000 each were sold to investors raising $2.25m in investor equity.

Offer Open date: 4 March 2010

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

An expansive 4,992 sqm distribution warehouse leased to Coca-Cola Amatil (N.Z.) Limited with 7.5 years remaining on the lease at the time of the offer, 4 March 2010. The property is located in the eastern industrial area of Palmerston North with ready access to all major arterial routes. Investor equity raised was $3.9 million comprised of 78 $50,000 investment units.

The property was purchased from a syndication managed by Augusta Funds Management.

This property was offered by Commercial Investment Properties Limited which was subsequently acquired by KCL Limited in 2012. KCL Limited was merged with Augusta Funds Management in 2014.

Offer Open date: 9 May 2009

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

The 510 Mt Wellington Highway property is a substantial 3 hectare multi tenanted industrial complex located in a superb position in the industrial hub of Mt Wellington. The property benefits from 3 street frontages and is located just 800 metres from NZ’s largest shopping complex – Sylvia Park and 300 metres from the motorway interchange.

At the time of the offer the property is leased to Repco, Shell (now known as Z Energy), McConnell Dowell and Express Data (now known as Dicker Data). Investor equity of $15,500,000 was raised comprised of 310 $50,000 investment units.

Offer Open date: 30 January 2009

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

An 11,705m² new building at the time of the offer with a 10 year lease to Bendon Limited for use as their Australasian Headquarters and distribution centre. The property is well located on a high profile 1.6 hectare corner site and provides excellent access to the motorway network and Auckland International Airport with Manukau City just a few minutes away.

Investors equity of $10,100,000 was raised comprised of 202 $50,000 investment units.

Offer Open date: 5 November 2008

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A substantial industrial building on a 3.4625 hectare site. At the time of the offer the initial lease term was 12 years from 1 May 2006 to APN News & Media Limited (now known as NZME). The property is well located with excellent motorway access.

Investors equity of $8,450,000 was raised comprised of 169 $50,000 investment units.

Offer Open date: 4 December 2006

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

A six level refurbished office building on a central Auckland corner site with numerous carparks. At the time of the offer eight leases were in place with the major tenant the International Travel College of New Zealand, with an average weighted lease term of 5 years.

Investors equity of $5 million was raised and comprised of 100 $50,000 investment units.

This property was offered by Commercial Investment Properties Limited which was subsequently acquired by KCL Limited in 2012. KCL Limited was merged with Augusta Funds Management in 2014.

Offer Open date: 15 November 2005

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Single level commercial property located on a corner site which was leased to Contact Energy on a 9 year lease from 21 January 2005.

110 units of $50,000 each were sold to investors raising $5.5m in investor equity.

Offer Open date: 14 October 2005

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

At the time of the offer a new three level commercial office building with several tenancies including an 8 year lease from 20 January 2005 to the Hawkes Bay District Health Board. Located on a high profile corner site in Hastings.

Investor equity raised was $4.2 million comprised of 84 $50,000 investment units.

Offer Open date: 20 April 2005

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

At the time of the offer a new 3,265 sqm retail development with long term leases to Number 1 Shoe Warehouse, Noel Leeming, Bond and Bond and Lighting Plus Limited.

Investor equity raised was $2.85 million comprised of 57 $50,000 investment units.

Offer Open date: July 2004

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

At the time of the offer a multi-level office property on 1,982 sqm of land with a 15 year lease from 1998 to the Crown (Ministry of Justice). Investor equity raised was $4.1 million comprised of 82 $50,000 investment units.

Offer Open date: 5 May 2004

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

At the time of the offer a new 17,700 sqm high stud development with leases to several well known tenants including Coca-Cola Amatil (NZ) Limited (9 years from 1 December 2003) and FoodStuffs (Wellington) Co-Operative Society Limited. The property is located in the eastern industrial area of Palmerston North with ready access to all major arterial routes.

Investor equity raised was $5.55 million comprised of 111 $50,000 investment units.

The property was later subdivided with a 9,893sqm section (the Coca-Cola Amatil (N.Z.) distribution facility) sold to a syndication managed by Commercial Investment Properties Limited which was subsequently acquired by KCL Limited in 2012. KCL Limited was merged with Augusta Funds Management in 2014.

Offer Open date: 9 March 2003

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Industrial property located on a 8,946 sqm site with at the time of the offer a 12 year lease from 7 October 2002 to Vertex Pacific Limited. Investor equity raised was $1.85 million comprised of 111 $50,000 investment units.