Property Income Fund acquires high-quality property assets of scale, in partnership with some of New Zealand's leading businesses. Our portfolio comprises the following assets:
Acquired in May 2025, Manukau Supa Centa New Zealand’s second-largest large-format retail centre. Occupying a 9.8-hectare site on the corner of Lambie and Cavendish Drives in Auckland, the 39,000 square metre centre is one of the city’s most dominant retail destinations. It is 100% leased, and home to 44 tenants, including a high-quality mix of national and international retailers. Anchor tenants include Kmart, Briscoes, Baby Bunting, Noel Leeming and Rebel Sport. The centre’s Kmart is among the top-performing stores across the brand’s Australasian network and operates 24 hours a day.
Property Details
Tenant |
Various (44 in total) including Kmart, Briscoes, Baby Bunting, Noel Leeming and Rebel Sport |
Net Lettable Area |
39,372 square metres |
Lease type |
Net Leases |
Lease terms |
Various |
Acquired in 2025, 90 Devonport Road is the largest modern mass timber commercial building in New Zealand. There is a 15-year net lease in place with Tauranga City Council for the entire building. The building is 6 Green Star rated and is targeting an all-of-life embodied carbon reduction of more than 60%, and a 5 star NABERS rating.
Property Details
Tenant |
Tauranga City Council |
Net Lettable Area |
10,400 square metres |
Lease type |
Net Lease |
Lease term |
15 years |
Valuation (as at 31/03/24) |
$97,700,000 |
Acquired in 2020, 484 Nayland Road is home to T&G Global, one of the largest growers of fresh produce in New Zealand. The eight hectare site accommodates the majority of T&G’s post-harvest operations in the Nelson region, including its packhouse and most of its associated cool stores. T&G Fresh’s domestic Nelson operations are also based at the site.
Property Details
Tenant |
ENZAFruit New Zealand International Limited. Unlimited guarantee provided by NZX listed T&G Global Limited |
Net Lettable Area |
39,673 square metres |
Lease type |
Triple Net Lease |
Lease term |
15 years |
Valuation (as at 31/03/24) |
$46,400,000 |
1 Fraser Street is large stand-alone industrial site with a net lease in place to NZX-listed Fonterra Limited. Located adjacent to Timaru Port in South Canterbury, it is a core site for Fonterra, used to store milk powder from the nearby Clandeboye dairy processing plant.
Property Details
Tenant |
Fonterra Limited |
Net Lettable Area |
21,876 square metres |
Lease type |
Net Lease |
Lease term |
10 years |
Valuation (as at 31/03/24) |
$26,750,000 |