Central Park Property Investment Ltd
*Projected cash return pre-tax, paid monthly
Expressions of Interest
Get more information about this investment.
The Product Disclosure Statement is available upon request. This is can also be collected from the Maat offices at B4/17 Corinthian Drive, Albany, Auckland.
This investment was settled on March 26, 2019.
Maat is currently accepting applications from investors to purchase remaining share parcels held in the underwrite for this investment opportunity.
This opportunity is a little different from previous Maat offers. It involves the development of a property, through a joint venture with the developer. Investors are offered shares in a company which will be a joint venture party with the developer. The “Maat” company (in which investors will take up shares) and the developer will each take up shares in a new joint venture company (JV Co). JV Co will acquire the land, do the development and lease the completed property to the tenant. The projected return is 8.5% p.a pre-tax paid monthly.
The property is at Central Park Drive, West Auckland and the development will be partly funded by $30m of equity subscribed for by investors.
Key elements of this investment opportunity include:
- Distributions of 8.5% pa* projected are paid monthly from 31 March 2019
- Ground works for the development of the construction site are currently in progress. The new business is targeted to open early December 2019
- Equity Funding to enable JVCo to do the development will be provided from the current land owner (20%) and Maat investors (80%)
- 600 parcels of $50,000 each are offered to Maat investors
- The currently proposed lease terms are an initial term of 15 years with two rights of renewal each for 10 years
- The issuer intends to register as a Portfolio Investment Entity (PIE)
Located in Auckland, this retail store will provide an integrated offering of products, services, and customer support. The concept is modelled on similar well-established stores overseas but will have its own uniqueness and be privately owned.
To view a video showing the retail tenant and entrepreneur discussing his vision, please click here.