Two weeks after closing the capital raising for its recent East Tamaki industrial property acquisition, Provincia Property Fund has another under contract.
Provincia Property Fund announced today that it has a new industrial property in Mt Wellington, Auckland under contract. The exact address and purchase price are confidential until next week, after the property goes unconditional. Watch this space!
What can be revealed, though, is that the property is under contract for somewhere in the region of $7-8 million at a 6% yield, is fully occupied and split-risk across multiple tenants.
The property is situated within the established Auckland City industrial precinct of Mt Wellington on a major thoroughfare road. Surrounding development in the vicinity comprises a mix of older heavy industrial and newer office/warehouse development covering a wide variety of production and manufacturing uses.
One major landmark in the vicinity is Sylvia Park Shopping Centre, located a short distance from the property.
In general, this is a well-regarded and established industrial location.
Investor Information Evening
Investors looking for somewhere safe to park their funds and earn a projected 6% pre-tax return plus capital gains are invited to find out more about investing in Provincia Property Fund at an investor information evening…
DATES: Thursday 24 October, Thursday 31 October, Thursday 7 November, Thursday 14 November 2019.
TIME: 6:15 PM for a 6:30 PM start. Allow one hour.
WHERE: Newland Burling offices, 268 Manukau Rd, Epsom
WHY: We are offering 83 parcels of shares of $50,000 to investors, with a projected pre-tax return of 6% p.a. plus capital gains. Come along to learn more about the fund.
This content is provided for general information only and should not be relied upon or used as a basis for making any investment or financial decision. To the extent that any information or recommendations in this content constitute financial advice, they do not take into account any person’s particular financial situation or goals. As individual circumstances differ, we strongly recommend you seek independent legal and/or financial advice prior to acting in relation to any of the matters discussed herein. Neither Newland Burling & Co Ltd nor Provincia Property Fund Management Ltd nor any person involved in this content accepts any liability for any loss or damage whatsoever may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this content.