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5%

p.a. forecast pre-tax cash distribution, payable monthly1

The fund's investment strategy is to grow a diversified portfolio of large format retail properties, targeting supermarkets, DIY or hardware stores, bulk retail stores and bulk retail centres throughout New Zealand.

Register interest

Minimum investment $50,0002

Investment Highlights

STRONG SECTOR PERFORMANCE

Large format retail is a strong performing and resilient subsector of the retail asset class. Nationally, the total returns generated by the large format retail subsector in the last twelve months has outperformed all other commercial property asset classes. Large format retail continues to experience strong occupier demand, with limited turnover of tenancies and extremely low levels of vacancy.

SIGNIFICANT INITIAL ASSET

The fund's initial acquisition is the Albany Lifestyle Centre, located at 260 Oteha Valley Road, Albany, Auckland. The property is a high profile 1.8-hectare site with three road frontages which provides easy access to State Highway 1 and a gross lettable area of 26,687m2.

QUALITY TENANTS

The fund's initial acquisition of the Albany Lifestyle Centre provides a diversified tenant mix, anchored by Mitre 10 Mega on an existing lease term of 15 years expiring in April 2033; providing 41% of property’s gross rental. In addition, the property is leased to nine other large format retail tenants including new leases to Freedom Furniture and Dankse Møbler. The property's tenants provide a weighted average lease term of 7.69 years as at 30 April 2021.

SOUGHT-AFTER LOCATION

Albany has been identified by the Auckland Council as one of the three key 'urban nodes' outside of the city centre, in addition to Westgate and Manukau, and plays a strategic role as the node for the North. As Auckland continues to grow and develop, the identified node areas will be responsible for supporting business and residential growth in the immediate and surrounding suburbs.

About Oyster

Oyster is a leading New Zealand commercial real estate property and fund manager. The company has expertise in property fund structuring and equity raising, and currently manages over 20 property funds structured for retail and wholesale investors including the diversified Oyster Direct Property Fund and Oyster Industrial.

Oyster manages a range of retail, office and industrial assets throughout New Zealand, with a combined value in excess of $2.0 billion.

The offer

Oyster is offering investors the opportunity to acquire units in the Oyster Large Format Retail Fund to invest initially in the land and buildings at 260 Oteha Valley Road, Albany, Auckland. A total of 1,045 parcels of units are being offered at $50,000 each (50,000 units per parcel). Investors may apply for one or more parcels of units.

Key Information

Purchase Price $87,500,000
Valuation $88,000,000
Current Rental $5,368,906
Loan to Value Ratio 48.3%
Investment Size2 $50,000 per parcel of units
Total Parcels of Units on Offer 1,045
Forecast Pre-Tax 5.00% p.a
Cash Distribution1 Payable monthly

INVESTOR PRESENTATIONS

Wellington

Wednesday, 9 June
12:00pm

Level 10, Cornerstone Partners
36 Customhouse Quay, Wellington

Palmerston North

Friday, 11 June
11:00am

Orlando Country Club, The Lake House Room
748a Rangitikei Line, Palmerston North

HOW DO I INVEST?

Register your interest, or contact Oyster, for additional information and for a copy of the Product Disclosure Statement.

Oyster Management Limited is the manager and the issuer of units in the Oyster Large Format Retail Fund.

REGISTER YOUR
INTEREST

Once you have registered your interest, you will receive a copy of the Product Disclosure Statement.