Press Release – Bayleys New Zealand investors have an opportunity to diversify into the Australian commercial property market with a Centuria Capital Group unlisted single-asset fixed-term fund, secured by a NZ$240million office building in Melbourne, Victoria.
Monday, 19 July 2021, 11:24 am
New Zealand investors have an opportunity to diversify
into the Australian commercial property market with a
Centuria Capital Group unlisted single-asset fixed-term
fund, secured by a NZ$240million office building in
Melbourne, Victoria.
The Centuria Government
Income Property Fund (CGIPF) will acquire the fully leased
20,191sqm A-grade office building located in the inner
Melbourne suburb of Footscray. It has an 11.8-year Weighted
Average Lease Expiry (WALE) and 91% of the rental income is
derived from the Victorian Government and state-owned
entities.
Mark Francis, CEO of Centuria NZ (formerly
Augusta), said the offering is an example of how New Zealand
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