Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Oyster’s Mega Offer Closes Over Subscribed

NEWS RELEASE
29 November 2012
Oyster’s Mega Offer Closes Over Subscribed

The Oyster Group’s proportionate ownership opportunity in the Lincoln Road MEGA Mitre 10 property has closed substantially over-subscribed.

It is the second Mitre 10 proportionate ownership scheme offered by the company this year, with the first in Pukekohe, Auckland closing early - again due to over-subscription.

Oyster Group Chief Executive, Mark Schiele, said the company had made available to investors 140 shares at $100,000 each in Mitre 10’s 14,000 m2 flagship West Auckland MEGA centre which is located on a 2.7 hectare site in Henderson, Auckland.

According to Mitre 10 New Zealand, the operation is one of their top three performing stores in New Zealand.

Mark said a combination of factors including superb location, built in rental growth, strong tenant and strong business profile offered had attracted savvy investors.

The investment scheme and property will be managed by Oyster which manages over $500 million in property around the country.

Mark said proportionate ownership of commercial property allowed groups of individuals to invest in assets of significant value and scale without the hassle of day-to-day management.
- ends –

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news