Wholesale
MyFarm Limited
Rākete Orchard

Rākete Orchards LP

Horticulture

Bid

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
1,785 Units
Min Investment
10 Units
Min Investment Value
NZD 100,000.00
Par Value
NZD 10,000.00
Quantity on Offer
12 Units
Offer Price
NZD 159,999.00
Highest Bid
NZD 132,000.00
Active Bidders
1
Last Traded Price
$66,666.65
Last Traded Quantity
5 Units
Last Traded Date
September 1, 2021

The offer to wholesale investors of 1,300 units in Rākete Orchards Limited Partnership at an issue price of $10,000/Unit, was initially made in November 2017. The minimum investment is $100,000 (10 units), and thereafter can be increased as desired in multiples of one unit ($10,000). A deposit of $2,000/Unit applied for was required with application on 15 December 2017 with two further calls of funds as follows: - $5,000/Unit applied for on 20 April 2018 and the balance of $3,000/Unit applied for on 1 November 2019.

Further disclosure is made in the attached Material Event Disclosure document, dated 21 August 2019 prepared by the Rakete Orchards GP Limited Board and MyFarm Business team, and should be read in conjunction with the Information Memorandum of November 2017.

This is a proportionate ownership scheme and investors funds are pooled together to invest in leasing land and developing 55 Planted Ha of RockitTM apple orchards (the Orchards). The leased land is in four separate blocks: two are in the Puketapu area inland from Napier (estimated 29 Planted Ha), and the other two are in Havelock North (estimated 26 Planted Ha). An estimated 41.5 Planted Ha of the land will be planted in RockitTM apple trees next year (2018) and the remaining 13.5 Planted Ha will be planted in 2018. 

The Orchards will be developed and operated by the Rockit Group pursuant to orchard development and management agreements. The Rockit Group will also pack, distribute and market apples produced on the Orchards pursuant to grower licence and supply agreements. They will also supply the trees for the initial plantings. 

The Orchard lease agreements are for an initial term of 18 years from June - September 2017, with two rights of renewal of five years each. The initial average rental is $3,983/Planted Ha, with annual rental adjustments tied to the Consumer Price Index (CPI), and four yearly rent reviews based on bare land value. A ratchet provision prevents the annual rental from dropping.

Establishing the Orchards is expected to cost a total of $217,287/Planted Ha. Of this amount, $141,987/Planted Ha is to cover capital costs and $75,300/Planted Ha is to cover orchard operating losses in the first three years before fruit production reaches a profitable level.

The Partnership will lease the land and develop the Orchards using $13.0 million of contributed capital to be raised in this Offer. 

Property Name Location Address
Crown Block Pukehamoamoa 752 Taihape Road, Pukehamoamoa, Hastings 4179
Lobb Property Hawkes Bay 51 Stock Road, RD2, Hastings, 4172
Simmons Properties Hawkes Bay 75 Penrith Road, Napier
Manahi Property Hawkes Bay 160 Stock Road, RD2, Hastings, 4172
Steel Property Hawkes Bay 490 Puketitiri Rd, Poraiti, RD2, Napier, 4182

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RAKETE - Quarterly Report - Q2 - 30 June 2021
RAKETE - Quarterly Report - Q2 - 30 June 2021
14/9/2021
FINAL - RAKETE - Financial Statements - ended 31 Dec 2020
FINAL - RAKETE - Financial Statements - ended 31 Dec 2020
24/6/2021
RAKETE - Quarterly Report - Q1 - 31 Mar 2021
RAKETE - Quarterly Report - Q1 - 31 Mar 2021
21/5/2021
RAKETE - Quarterly Report - Q3 - 31 Dec 2020
RAKETE - Quarterly Report - Q3 - 31 Dec 2020
19/2/2021
RAKETE - Quarterly Report - Q2 - 30 Sep 2020
RAKETE - Quarterly Report - Q2 - 30 Sep 2020
16/11/2020
Rakete Orchards LP - Crown Extension - Information Memorandum - 9 Oct 2020
Rakete Orchards LP - Crown Extension - Information Memorandum - 9 Oct 2020
11/10/2020
FINAL - RAKETE - Financial Statements - FY 2020 ended 31 Mar 2020
FINAL - RAKETE - Financial Statements - FY 2020 ended 31 Mar 2020
17/8/2020
RAKETE - Quarterly Report - Q1 - June 2020
RAKETE - Quarterly Report - Q1 - June 2020
6/8/2020
RAKETE - Quarterly Report - Q4 - 31 Mar 2020
RAKETE - Quarterly Report - Q4 - 31 Mar 2020
28/5/2020
RAKETE - Quarterly Update - Q3 - Dec 2019
RAKETE - Quarterly Update - Q3 - Dec 2019
10/2/2020
RAKETE - Quarterly Update - Q1 - Jun 2019
RAKETE - Quarterly Update - Q1 - Jun 2019
29/8/2019
RAKETE - Material Event Disclosure - 21 Aug 2019
RAKETE - Material Event Disclosure - 21 Aug 2019
29/8/2019
FINAL - RAKETE - Financial Statements - FY 2019 ended 31 Mar 2019
FINAL - RAKETE - Financial Statements - FY 2019 ended 31 Mar 2019
2/9/2019
RAKETE - Follow up letter re shortfall of trees - Gareth Evans - 27 Feb 2019
RAKETE - Follow up letter re shortfall of trees - Gareth Evans - 27 Feb 2019
10/7/2019
RAKETE - Quarterly Management Report - Q3 - Dec 2018
RAKETE - Quarterly Management Report - Q3 - Dec 2018
11/7/2019
RAKETE - Quarterly Management Report - Q2 - Sep 2018
RAKETE - Quarterly Management Report - Q2 - Sep 2018
29/8/2019
RAKETE - Quarterly Financial Management Report - Q1 - Jun 2018
RAKETE - Quarterly Financial Management Report - Q1 - Jun 2018
11/7/2019
FINAL - RAKETE - Financial Statements - FY 2018 ended 31 Mar 2018
FINAL - RAKETE - Financial Statements - FY 2018 ended 31 Mar 2018
11/7/2019
RAKETE - Quarterly Update - Q4 - Mar 2018
RAKETE - Quarterly Update - Q4 - Mar 2018
10/7/2019
RAKETE - Investor Update - Jun 2018
RAKETE - Investor Update - Jun 2018
11/7/2019
RAKETE - Investor Update - Feb 2018
RAKETE - Investor Update - Feb 2018
11/7/2019
SIGNED - RAKETE - General Partner Agreement - 22 Jun 2018
SIGNED - RAKETE - General Partner Agreement - 22 Jun 2018
11/7/2019
SIGNED - RAKETE - GP Ltd Constitution
SIGNED - RAKETE - GP Ltd Constitution
11/7/2019
RAKETE - Limited Partnership Agreement (no schedule or attestations) - 23 Feb 2018
RAKETE - Limited Partnership Agreement (no schedule or attestations) - 23 Feb 2018
15/10/2019
RAKETE - Information Memorandum - Nov 2017
RAKETE - Information Memorandum - Nov 2017
10/7/2019