Property Investment

Property Income Fund has a capacity of up to $500 million to invest in long-term yielding property assets.

Investment Strategy

Our aim is to acquire high-quality property assets of scale, in partnership with some of New Zealand's leading businesses.

T&G Global

484 Nayland Road, Nelson

Nelson is home to T&G Global, one of the largest growers of fresh produce in New Zealand.

Key property information

1 Fraser Street, Timaru

A large stand-alone warehouse with access to Timaru's port in South Canterbury, tenanted to NZX-listed Fonterra Limited

Key property information

Tenant	ENZAFruit New Zealand International Limited. Unlimited guarantee provided by NZX listed T&G Global Limited
Lease type	Triple Net Lease
Lease term	15 years
Rights of renewal	One right of renewal of seven years, followed by one further right of renewal of five years.
Net rental	$2,600,000 per annum.
Rent reviews	Annual fixed 2.25% rental increases. Market rent reviews at year seven and on renewal.
Net Lettable Area	39,673 sqm
Current value	$50,600,000

Tenant	Fonterra Limited
Lease type	Net Lease
Lease term	8.5 years remaining, initial expiry May 2030
Rights of renewal	2 x 5 years
Net rental	$1.726 million
Rent reviews	Fixed 2.25%, May 2025 market review.
Net Lettable Area	21,876 sqm
Current value	$33.2 million