Provincia Property Fund Ltd ("Provincia" or "the Fund") is an unlisted limited liability company that invests in commercial property. Shareholders own shares in the Fund company which in turn directly owns the properties. The opportunity exists for wholesale investors to express interest to invest in Provincia.
Provincia invests in quality, mid-sized commercial properties in growth areas of New Zealand that have sound economics. Provincia's strategy is to provide the closest alternative to direct property ownership as possible, targeting a pre-tax cash yield of 6% p.a. plus capital growth.
Provincia is an open-ended PIE fund. As such it will continue to add to its portfolio of properties, thereby diversifying investment risk across multiple properties and tenants.
The Fund currently owns six industrial properties with a total value of $39.7 million. The Fund will issue further shares to raise funds to complete the purchase of its seventh property located at 18 Noel Burnside Road, Wiri. The new acquisition will be funded by a combination of bank funding and new shareholder funds.
The property has exciting future potential and will bring the total value of Provincia's funds under management to over $50 million with a combined rental income of $3.0 million.
It is anticipated that Provincia will continue to grow as further investment properties are identified and existing investors will be offered the first opportunity to reinvest.
Shareholders own shares in Provincia and will be entitled to receive dividends. Provincia's current distribution policy is to pay quarterly dividends from distributable profits. Shareholders will also benefit from any increases in the value of the property portfolio which will be directly reflected in the value of the shares they hold.
See here an example of Provincia in the news: https://www.landlords.co.nz/article/976516834/industrial-holdings-leave-provincia-in-strong-position
View a copy of the Provincia Investor Statement under the Documents tab.
Click on to the Register Interest tab to get in contact with the manager and express interest or ask for further information.