Ann: ASSET: AUG: Augusta to Syndicate Christchurch Industrial...

• Release Date: 11/02/15 09:38
• Summary: ASSET: AUG: Augusta to Syndicate Christchurch Industrial Property
• Price Sensitive: No
• Download Document  1.24KB

					AUG
11/02/2015 09:38
ASSET
PRICE SENSITIVE
REL: 0938 HRS Augusta Capital Limited

ASSET: AUG: Augusta to Syndicate Christchurch Industrial Property

Augusta Capital Ltd is pleased to announce that its wholly owned subsidiary
Augusta Funds Management Ltd has entered into an unconditional agreement to
purchase an industrial property located at 30-32b Birmingham Drive,
Christchurch. The property will be leased to PMP (NZ) Limited, a subsidiary
of ASX Listed PMP Limited, for an initial term of ten years from the
settlement date which is scheduled for 19 June 2015. PMP Limited guarantees
the lease.

Augusta will offer the property to its investors by way of syndication with
an offer expected to open in early May 2015.
The purchase price is $9.4 million reflecting a yield of 8.57%. The
syndicated offer will seek to raise $6 million in investor equity of which
half is being underwritten by Augusta Capital Ltd and the remaining half by a
private third party.

-ENDS-

For further information please contact:

Mark Francis
Managing Director

Augusta Capital Limited | Level 2, 4 Viaduct Harbour Ave | Auckland | New
Zealand
PO Box 37953 Parnell | P:+649 300 6161 | F:+649 300 6162   www.augusta.co.nz
End CA:00260482 For:AUG    Type:ASSET      Time:2015-02-11 09:38:56