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6.5%

p.a. / projected pre-tax cash return.*

33 Corinthian Drive,
Albany, Auckland

Minimum investment $50,000

585 interests available.

Investment Highlights

Large scale property

Over 2.1 hectares of land prominently positioned in Auckland’s high growth suburb of Albany. A three-level standalone office building providing more than 10,000 sqm of net lettable area and over 300 onsite car parks.

Outstanding tenant covenant

100% leased to ASB Bank Limited, ASB is one of the NZ’s largest providers of financial and insurance services, wholly owned by Commonwealth Bank of Australia, and has occupied C:Drive since the property was built in 2001.

Award-winning Building

Multiple national and international architectural and innovation awards, including the New Zealand Institute of Building Innovation Award (2002) and New Zealand Institute of Architects Architecture Award (2003).

Long term lease

Initial nine year term to October 2025, with renewals through to October 2043.

2% compounded per annum rental increases applied every three years (including renewals).

In the area

  1. Massey University
  2. Albany Mega Centre
  3. North Harbour Stadium
  4. Westfield Albany
  5. Mitre10 National Support Centre
  6. Westpac
  7. PBT Freight Solutions
  8. Albany Expressway
  9. SH1 motorway to Auckland CBD

About Oyster

Oyster is a leading New Zealand commercial real estate property and fund manager. The company has expertise in property fund structuring and equity raising, and currently manages over 20 property funds structured for retail and wholesale investors including the diversified Oyster Direct Property Fund.

Oyster manages a range of retail, office and industrial assets throughout New Zealand, with a combined value in excess of $1.5 billion.

Offer-img

The offer

Oyster Management Limited is offering investors the opportunity through a proportionate ownership scheme to acquire a proportionate share of, and beneficial interest in, the land and buildings at 33 Corinthian Drive, Albany, Auckland.

585 Interests are being offered at $50,000 each. Investors may apply for one or more interest(s).

Key Financials

Purchase price $50,500,000
Valuation $54,000,000
Investment size $50,000 per interest
Net rental $2,971,363 per annum
Projected pre-tax cash return to investor 6.5% per annum*

* For financial year 1 April 2019 - 31 March 2020

Attend an investor presentation near you

Auckland

Mon 18th Feb, 5.30pm
Colliers International
SAP Tower, L 27,
151 Queen St, City

Christchurch

Wed 20th Feb, 5.00pm
Rydges
30 Latimer Square

Tauranga

Thurs 21st Feb, 5.00pm
Trinity Wharf
51 Dive Crescent

Hamilton

Mon 25th Feb, 5.00pm
Novotel Hamilton Tainui
7 Alma St

How do I invest?

Oyster Management Limited is the manager and the issuer of interests in the 33 Corinthian Proportionate Ownership Scheme.

Contact Oyster as soon as possible to register your interest and for a copy of the Product Disclosure Statement.

Charlie Oscroft

021 824 564 cdrive@colliers.co.nz

Colliers International Ltd.
Licensed under the REAA 2008