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

 

Oyster’s TAB Offer Closes Fully Subscribed

FOR IMMEDIATE RELEASE

August 8 2014

Oyster’s TAB Offer Closes Fully Subscribed

Oyster Group’s proportionate ownership opportunity in the New Zealand Racing Board’s head office in Petone has closed fully subscribed.

It is the second proportionate ownership scheme offered by the company in Wellington this year, both projecting 10% per annum pre-tax cash returns, paid monthly.

Oyster Group chief executive, Mark Schiele, said the company had made available to investors 67 interests at $100,000 each in the New Zealand Racing Board’s six-storey head office which is located at 106-110 Jackson Street in Petone, Wellington.

The New Zealand Racing Board entered into new nine year leases from August 2014 with two further three year rights of renewal. The tenant is an entity established by an act of parliament to operate the TAB.

Mr Schiele said a number of factors including the blue-chip quality of the tenant, the length of its leases and the forecast returns had attracted investors.

He said proportionate ownership of commercial property continued to allow groups of individuals to invest in assets of significant value and scale without the hassle of day-to-day management. Oyster manages over $650 million in property throughout New Zealand.

- ends –


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Testing And Decontamination: New Standard On Meth Residue

Standards New Zealand has today released NZS 8510:2017 Testing and decontamination of methamphetamine-contaminated properties ... More>>

ALSO:

Mince, Etc: US Food Poisoning Lawyer At Conference

As New Zealand chefs, food experts, and MPI debate what constitutes a cooked beef burger, leading US food safety litigator Bill Marler, who made his name prosecuting the burger company responsible for a major E. coli outbreak, is keynote speaker at the Food Integrity Conference. More>>

ALSO:

Petya: New Ransomware Campaign Hits Worldwide

A new ransomware campaign known as Petya is affecting computer networks using Microsoft Windows. It was first seen affecting systems in the Ukraine, but is quickly spreading across other computer networks in Europe. More>>

ALSO:

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO: