Proportionate ownership (or syndication) makes investing in commercial property more achievable. By pooling together with other investors you can get access to potentially higher value, higher return and higher growth properties.
Our Latest Offer
Erskine + Owen’s latest syndicated offering is the Wattie’s National Distribution Centre Property Syndicate, offering a projected pre-tax cash return of 8.0%* per annum, paid quarterly.
Units are available for purchase at $100,000 per unit.
This offer is fully underwritten.
The property is a substantial industrial complex which was developed in stages from the 1990’s through to 2005. The facility is Heinz Wattie’s main Hastings Distribution Centre for the North Island.
This property is immediately adjacent to the North Island Heinz Wattie’s manufacturing/processing plant and comprises a large distribution warehouse complex, handling over 1200 product lines, with rail siding capabilities connecting directly to Napier Port.
Heinz Wattie’s is owned by Kraft Heinz, the 3rd largest food and beverage company in North America and the 5th largest in the world. The annual rent from this property is $2,218,719, with a CPI review every two years from 1 May 2020. There is 7.5 years of lease term remaining.
Erskine + Owen are confident that Wattie’s will remain committed to the site as it’s adjacent to their manufacturing plant and features a rail siding. The cost to build a similar scale distribution centre in another location would be substantial.
The property itself a 6.3 hectare site with a gross floor area 45,351 m2. It is directly adjacent to the Heinz Wattie’s processing plant.
Why Invest In Hawkes Bay
The Hawkes Bay’s regional economy is worth $8.1 billion and is a major contributor to New Zealand’s horticulture sector. The region is a premium global producer, processor and exporter of primary products such as fruit and vegetables, beef, lamb, wine and forest products. Hawkes Bay is a major agriculture and food processing hub, with farms and orchards spread across its plains and 353 kilometre coastline.
Napier Port is the country’s fourth largest port with 66% of its revenue coming from container services. It has just raised $234M for expansions plans in a successful IPO.
Register Your Interest
This offer is restricted to “wholesale investors” only under clauses 3(2) and 3(3)(a) of Schedule 1 to the Financial Markets Conduct Act 2013. If you are unsure about what this means, please contact us.
*Projected pre-tax return for full one year period. Details on how the return will be calculated and the risk associated with the investment and return are set out in the Information Memorandum.