Augusta Funds Management is syndicating a new Countdown store nearing completion in Hamilton with a 15-year lease, plus six rights of renewal of 5 years each. A total of 220 proportional interests of $50,000 each are being offered in a limited partnership.
According to Mark Francis, managing director at Augusta, the main attraction of supermarket properties lies in their very long lease terms.
“The syndication is already attracting strong interest from investors because of its very long lease to one of New Zealand’s biggest companies. A new 15-year lease to a tenant of this calibre in a large, new building is virtually impossible to secure on the open market. Certainly, the only opportunity smaller to medium sized investors have of getting access to a property with the attributes is through a shared ownership syndication as this,” said Francis.