Wholesale
MyFarm Limited

Wairau Valley Vineyards LP

Viticulture

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 Schedule1, 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.

 

Note: We urge you to carefully review the Information Memorandum and additional attachments (if applicable) before lodging an application. In the event that there are any material changes to the Information memorandum communications will be added to the attachments for review.

Total Share/Units
7,020,000 Units
Min Investment
50,000 Units
Min Investment Value
NZD 50,000.00
Par Value
NZD 1.00
Quantity on Offer
100,000 Units
Offer Price
NZD 100,000.00
Highest Bid
Active Bidders
Last Traded Price
$50,000.00
Last Traded Quantity
50,000 Units
Last Traded Date
September 1, 2022

Wairau Valley Vineyards Limited Partnership was formed to purchase two recently developed vineyards (Kowhai and Walkers) totaling 42 canopy hectares (cha) planted in Sauvignon Blanc grapes with approximately 4 cha expected to be planted in the coming season. Both properties are located in the Wairau Valley on State Highway 63, Walkers at 3211 and Kowhai at 2765 respectively. 

 

The Partnership has entered into a lease agreement with Misty Cove and is receiving a gross rental return equal to 7% of the property purchase cost equivalent to $16,766 per cha or $772,389 per annum. 

 

Misty Cove is leasing each vineyard for an initial period of 15 years, with two rights to renew for a further 5 years each on 1 July 2037 and 1 July 2042. A market rent review will occur on 1 July 2029 and every three years thereafter.  The rental value cannot drop below the preceding period prior to the review.

 

The Wairau Valley Vineyards LP invested in Kowhai and Walkers vineyards located in the Wairau Valley. The combined purchase price for both properties (including establishment and syndicate costs) was $11.71 million. The Partnership raised $7.02 million of contributed capital and $4.69 million of bank debt as part of this Offer. Misty Cove acquired $2.20 million of the Units with the remaining $4.82 million purchased by other MyFarm investors. This provided Wairau Valley Vineyards LP with a loan to value ratio of 43%, which is forecast to drop to 36% at maturity.

 

The MyFarm Underwriters’ Fund was used to secure the Kowhai and Walkers vineyards, via a $3.34 million property underwrite. A fee of $86,400 was included in the establishment costs for the Partnership. 

 

The Offeror also reserves the right to accept or decline over-subscriptions and to determine which applications are accepted. No provision has been made for over-subscriptions.

 

The minimum investment is 50,000 Units ($50,000) and thereafter the size of an investment can be increased in multiples of $10,000. The minimum capital raise is $7.02 million Units.

 

As a Limited Partner the maximum amount payable is $1/Unit and no other payments are required to be made other than those specifically agreed to.

 

IMPORTANT: 100% payment is due on application

Property Name Location Address
Walkers Vineyard Wairau Valley, Marlborough 3211 State Highway 63, Wairau Valley 7271
Kowhai Vineyard Wairau Valley, Marlborough 2765 State Highway 63, Wairau Valley 7271

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Wairau Valley Vineyards - Limited Partnership Agreement 30 June 2022
Wairau Valley Vineyards - Limited Partnership Agreement 30 June 2022
27/7/2022
Wairau Valley Vineyards LP - Due Diligence Report - 8 Jun 2022
Wairau Valley Vineyards LP - Due Diligence Report - 8 Jun 2022
19/7/2022
Wairau Valley Vineyards LP IM-23 May 2022
Wairau Valley Vineyards LP IM-23 May 2022
27/5/2022