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

 

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:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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