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SilverFin

66 The Square Scheme

Commercial Property

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Please note any investor wishing to invest in this scheme must meet both the eligibility criteria of the investment as set by Silverfin and all regulatory obligations in respect of New Zealand's AML/CFT Act 2009.  Silverfin may require further information from the bidder before the trade can proceed and in the event a proposed buyer does not meet the regulatory requirements, the bid or trade may be rejected.
Total Share/Units
179 Units
Min Investment
1 Unit
Min Investment Value
NZD 50,000.00
Par Value
NZD 50,000.00
Quantity on Offer
2 Units
Offer Price
NZD 70,000.00
Highest Bid
NZD 40,000.00
Lowest Bid
NZD 40,000.00
No. of Bids
1
Last Traded Price
$29,000.00
Last Traded Quantity
1 Unit
Last Traded Date
August 26, 2019

Silverfin Capital Limited manages 66 The Square Proportionate Ownership Scheme, a 38 year old office tower on 1,000 m2 site located in the heart of Palmerston North at 66-68 The Square (corner Fitzherbert and The Square). The major leases are to TSB Bank Limited, Quest Serviced Apartments and Glendinning Chartered Accountants. There is approximately 5,016 m2 of NLA office accommodation and 40 apartments. Under new management the Scheme reinstated the payment of monthly distributions in June 2019 at a 5% return per annum.  The property is cash flow positive with circa $1,000,000.00 per annum in rental.

Registered Managed Investment Scheme (SCH11722). Managed by Silverfin Capital Limited (FSP487266). Silverfin Capital Limited is a New Zealand licensed manager of managed investment schemes (excluding managed funds) that invest in real property or property syndicates/real property proportionate ownership schemes.

Property Name Location Address
66 The Square Palmerston North 66 The Square, Palmerston North, 4410 New Zealand
9-15 Fitzherbert Avenue Palmerston North 9 Fitzherbert Avenue, Palmerston North, 4410 New Zealand

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66 The Square Proportional Ownership Scheme Update
66 The Square Proportional Ownership Scheme Update
31/3/2020
66 The Square Scheme QR Q3 FY2020
66 The Square Scheme QR Q3 FY2020
10/2/2020
66 The Square Scheme QR Q2 FY2020
66 The Square Scheme QR Q2 FY2020
4/11/2019
66 The Square Scheme QR Q3 FY2018
66 The Square Scheme QR Q3 FY2018
26/8/2019
66 The Square Scheme QR Q4 FY2018
66 The Square Scheme QR Q4 FY2018
26/8/2019
66 The Square Scheme QR Q1 FY2019
66 The Square Scheme QR Q1 FY2019
26/8/2019
66 The Square Scheme QR Q2 FY2019
66 The Square Scheme QR Q2 FY2019
26/8/2019
66 The Square Scheme QR Q3 FY2019
66 The Square Scheme QR Q3 FY2019
26/8/2019
190822 - Annual Meeting Voting Outcome
190822 - Annual Meeting Voting Outcome
22/8/2019
66 The Square Scheme QR Q1 FY 2020
66 The Square Scheme QR Q1 FY 2020
18/9/2019
66S 2019 Financial Statements
66S 2019 Financial Statements
22/7/2019
66 The Square Scheme QR Q4 FY2019
66 The Square Scheme QR Q4 FY2019
24/4/2019
66 The Square Financial Statements FY 2018
66 The Square Financial Statements FY 2018
16/1/2019
66 The Square-Deed of Participation 23 Mar 2018
66 The Square-Deed of Participation 23 Mar 2018
16/1/2019
66 The Square Annual Report 2018
66 The Square Annual Report 2018
16/1/2019
66 The Square Annual Report 2017 - FMC_Regs_2014_Schedule_5_Part_4_Final
66 The Square Annual Report 2017 - FMC_Regs_2014_Schedule_5_Part_4_Final
16/1/2019
66 The Square Financial Statements FY 2017 and Audit Report
66 The Square Financial Statements FY 2017 and Audit Report
16/1/2019
66 The Square - Managers Certificate for Registration
66 The Square - Managers Certificate for Registration
16/1/2019
66 The Square - SIPO Statement of Investment policy and objectives Mar 2018
66 The Square - SIPO Statement of Investment policy and objectives Mar 2018
16/1/2019
66 The Square Offeror's Statement (SPI Capital) 23 April 2009
66 The Square Offeror's Statement (SPI Capital) 23 April 2009
16/1/2019

Silverfin Capital