Wholesale
MyFarm Limited
Colebrook Kiwifruit Orchard LP

Colebrook Kiwifruit Orchard LP

Horticulture

Bid

WARNING The law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to this offer if you are a person who comes within Schedule 1, clause 3(2)(a)-(c) or 3(3)(a)-(b)(ii) (inclusive) of the Financial Markets Conduct Act 2013. This includes where the amount invested upfront by the investor (plus any other investments the Investor has already made in the financial products) is $750,000 or more.

 

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.

Total Share/Units
1,260 Units
Min Investment
5 Units
Min Investment Value
NZD 50,000.00
Par Value
NZD 10,000.00
Quantity on Offer
5 Units
Offer Price
NZD 44,000.00
Highest Bid
Active Bidders
Last Traded Price
$90,000.00
Last Traded Quantity
10 Units
Last Traded Date
September 1, 2022

This Offer is for Units in Colebrook Kiwifruit Orchard Limited Partnership ("the Partnership"), a Limited Partnership formed to acquire a 14.86 cha kiwifruit orchard (10.5 cha of SunGold and 4.36 cha of Hayward) located at 66 Colebrook Road, near Edgecumbe in the Eastern Bay of Plenty.

As a Colebrook Kiwifruit Orchard unitholder ('Unitholder'), you will become a Limited Partner in the Partnership.

The Partnership purchased the Orchard and met syndicate establishment costs using a combination of $12.5 million of contributed capital raised in the Offer and $5.35 million of bank debt, a 30% debt funding level and a 34.9% loan to value ratio (‘LVR’). The LVR is higher than the debt funding ratio because the calculation of LVR excludes establishment fees and costs.

The Offeror reserves the right to use up to a further $2.298 million of bank debt and declare the sale and purchase agreement unconditional once it has received applications for $10.185 million of contributed capital. If only $10.185 million of contributed capital is raised, the LVR post settlement would increase to 50%. The Offeror and associated entities may underwrite $3.0 million of contributed capital for a 4.0% fee payable by the Partnership.

In the event that the Offer is under-subscribed MyFarm will hold any unsubscribed units as Unpaid Units and continue to market these Unpaid Units on the secondary market after the Offer has closed, at the Offer price of $10,000/Unit.

Up to $0.5 million of over-subscriptions will be accepted. Any over-subscription money will be used to invest in Zespri shares. Over subscriptions are not included in financial forecasts.

The Orchard will be leased to DMS on terms that include a $60,000/cha p.a. base rent paid monthly plus an 85% share of Orchard profits. The lease terms will provide for a term of 10 years with one right of renewal for five years. DMS is a leading Bay of Plenty kiwifruit and avocado orchard management and post-harvest operator. It is locally owned and operated and focused on providing services aimed at increasing orchard productivity and grower profits.

The Offer will be for 1,250 partly paid Units in Colebrook Kiwifruit Orchard LP at an issue price of $10,000/Unit, plus over subscriptions of up to 50 units. The minimum investment will be five Units ($50,000) and thereafter the size of an investment can be increased in multiples of one Unit.

PLEASE NOTE: Any Secondary Market unit purchaser will need to pay the balance of $1,000/Unit (10%) to the issuer with the due date dependent on the Zespri Licence in 2023. This is not covered in the purchase price of a Secondary market purchase.

Property Name Location Address
Colebrook Orchard Rangitaiki Plains 66 Colebrook Road, Edgecumbe, 3193

Login for more details

Colebrook Kiwifruit Quarterly Report June 22
Colebrook Kiwifruit Quarterly Report June 22
11/8/2022
Colebrook - Quarterly Report - March 2022
Colebrook - Quarterly Report - March 2022
29/5/2022
COLEBROOK - Quarterly Report - 31 December 2021
COLEBROOK - Quarterly Report - 31 December 2021
30/8/2022
Kiwifruit Industry Update
Kiwifruit Industry Update
30/8/2022
COLEBROOK - Quarterly Report - Q2 - 30 Sep 2021
COLEBROOK - Quarterly Report - Q2 - 30 Sep 2021
30/8/2022
COLEBROOK - Quarterly Report - Q1 - 30 Jun 2021
COLEBROOK - Quarterly Report - Q1 - 30 Jun 2021
30/8/2022
KIWIFRUIT - Harvest Update - 28 May 2021
KIWIFRUIT - Harvest Update - 28 May 2021
30/8/2022
COLEBROOK - Quarterly Report - Q4 - 31 Mar 2021
COLEBROOK - Quarterly Report - Q4 - 31 Mar 2021
30/8/2022
COLEBROOK - Quarterly Report - Q3 - 31 Dec 2020
COLEBROOK - Quarterly Report - Q3 - 31 Dec 2020
30/8/2022
COLEBROOK - Quarterly Report - Q2 - 30 Sep 2020
COLEBROOK - Quarterly Report - Q2 - 30 Sep 2020
30/8/2022
COLEBROOK - Investor Introduction - 4 Sep 2020
COLEBROOK - Investor Introduction - 4 Sep 2020
30/8/2022
Colebrook Limited Partnership Agreement 31July 2020
Colebrook Limited Partnership Agreement 31July 2020
29/5/2022
Colebrook Kiwifruit Orchard Limited Partnership IM 24th June 2020
Colebrook Kiwifruit Orchard Limited Partnership IM 24th June 2020
30/8/2022