Maat’s latest investment opportunity is different to any other we have previously made. This time, the company in which shares will be offered (Central Park Property Investment Limited) will in turn subscribe for shares in a joint venture company, which will purchase land and complete a development on that land. Central Park is expected to have an 80% interest in the joint venture company.

To date we have had strong expressions of interest from prospective investors.

The development is located in Central Park Drive, Henderson and the prospective tenant, Magsons Hardware Limited, will operate a retail business selling home furnishings and fit-outs of the ‘flat-pack’ variety.  Construction of the 27,000 m2 building is expected to be completed in the spring of 2019, with development work having commenced during October 2018. The directors of Central Park understand that the tenant will offer a wide range of product choices in the ‘Nido’ branded store. There has already been significant media interest and the directors anticipate that this will to continue for some time. This project has been nine years in the making and Vinod Kumar, the director of the tenant, describes this as his "vision".  Vinod has had 29 years of experience in the retail market, as the owner of two Mega Mitre 10 businesses, until selling both businesses during the last two years.

After over two years of reviewing the project, we anticipate being able to shortly register a Product Disclosure Statement (in accordance with the Financial Markets Conduct Act) detailing the investment information for prospective investors to review.  Investors will be offered 600 parcels of 50,000 $1 shares ($30m) in Central Park, with the shares having a projected return of 8.5% per annum (before tax).  This is expected to be paid monthly, during both the construction phase and the trading period, which is forecast to begin from 1 December 2019. It is also expected that the capital raising period will close in mid-March 2019.

Maat is now into our 10th year of offering investments in shares in companies which acquire commercial properties. Based in Albany, we manage a portfolio of 13 properties with an aggregate market value of $300m. These properties (located in Auckland, Whangarei, Whakatane, Wellington and Tauranga) have a range of national and international tenants. We continue to select quality properties which have quality tenants, with the aim of maximising the returns for investors.

To enquire about our current ‘Central Park’ investment offer ontact either Jodi Tuffin at the Maat office 414 6078 or mobile 021 084 42523 or email: jtuffin@maat.co.nz or myself – Neil Tuffin, Managing Director, 021 481 441 email: ntuffin@maat.co.nz

No money is currently being sought.  Shares cannot currently be applied for or acquired under the intended offer.  If the offer is made it will be made in accordance with the Financial Markets Conduct Act 2013.  No indication of interest will involve an obligation or a commitment to acquire any shares.