First Light Property Fund Limited has been established to enable the founders and likeminded investors to pool their funds and invest side by side in commercial and industrial properties with suitable returns.
Our aim is simple – to grow a portfolio of commercial and industrial properties that have a diversified group of premium tenants and growth potential. We will focus on key locations in New Zealand where there are strong economic fundamentals underpinning medium to long term demand for our properties.
Commercial and industrial property has proven over time to continue to perform even in difficult economic times. Industrial property in particular has maintained positive return and market growth during the Covid-19 pandemic.
Our first acquisition, 2 Harris Road, is a commercial building located in the low vacancy industrial area of East Tamaki, Auckland. With two premium tenants on long-term leases, this property meets our location, tenant, yield, and potential growth criteria.
2 Harris Road generates a target pre-tax cash return of 6.5% p.a.
First Light Property Fund Limited is an open-ended fund. As such, our intention is to continue to add to our portfolio of properties, thereby diversifying investment risk across multiple properties, sectors, and tenants. We believe that this is a conservative investment structure enabling us to better manage
the requirements of our tenants and provide our shareholders with superior security.
Our strategy is to provide the closest alternative to direct property ownership as possible, targeting total shareholder returns of 8% p.a., with regular monthly distributions. Being a PIE fund, shareholders receive the same income, tax deductions and capital gains as if they owned the properties direct, including depreciation deductions which reduces their tax. First Light Property Fund Limited intends to grow by acquiring further commercial and industrial properties. The founders, alongside other existing investors, will be offered the first opportunity to reinvest on a pari passu basis.
The investment statement for the Fund and a brochure for 2 Harris Road are available under the Documents tab. Register interest to be put in touch with the offerer of this investment.