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If you fall within Schedule 1, Clause 3 of the FMCA, as a result of this exclusion, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for this investment. Investments of this kind are not suitable for retail investors. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.
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Duncannon is a Blenheim based commercial property, purpose-built as accommodation for seasonal vineyard workers and consented for temporary backpacker accommodation. It is also the headquarters of the current owner and developer of the property – Hortus Limited.
These hard-working men and women from around the Pacific have become a vital part of New Zealand’s horticultural economy as a result of export growth and a shortage of local labour. Strong growth in the Marlborough wine sector is bolstering long-term demand for seasonal labour and accommodation. Despite COVID-19 travel restrictions, there are still 8000 RSE workers and 20,000 backpackers in New Zealand looking for work.
Hortus is a vineyard management company and one of the leading providers of contract labour in Marlborough. Its reputation for looking after the pastoral needs of workers means the company consistently attracts the cream of the RSE labour crop.
Hortus lease back the property for an initial term of 15 years.
Duncannon Horticulture LP has completed a second capital raise with current unit holders to maximise the Duncannon site through the addition of 100 extra beds and provide Hortus the opportunity to expand its operations.