Capital Raise One: 14 July 2020

Capital Raise Two: 15 November 2021

Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)

Centuria NZ Property Fund (formerly known as Augusta Property Fund) is a unit trust that was established in July 2020 as an open-ended, unlisted property fund. Its purpose is to provide investors with the opportunity to invest in a portfolio of strategically selected directly owned assets, along with other property related investments in the longer term, within the one investment vehicle.

The first capital raise for the fund in 2020 saw the acquisition of Anglesea Medical Centre, located in Hamilton CBD. At the time of the offer, in Centuria’s opinion, this was one of New Zealand’s largest private health care centres with the circa 2.4 hectare site containing three main buildings and located in a prime corner CBD position benefiting from three road frontages. Anglesea Medical Centre offered income diversification through, at the time of the offer, 28 tenants with a key feature being the tenants’ commitment to the property with the nine largest having been on site for between 14 and 28 years.

There was strong interest from investors and the initial offer was oversubscribed within two weeks of opening which resulted in many investors missing out.

The second capital raise was used to initially reduce the bank debt to zero to provide a strong platform for growth with significant balance sheet capacity available to acquire additional assets.

As at March 2024 the fund is comprised of 9 properties including medical facilities adjacent to Anglesea Medical Centre, a City Fitness gym in Christchurch, an Auckland office building and four aged care facilities with attractive circa 28 year lease terms remaining at acquisition.

Both offers were open to everyone in New Zealand with a minimum investment of $10,000 and returns paid monthly.

To be kept informed of when Centuria NZ Property Fund re-opens for investment, please register your details here.