Augusta Strikes Healthy Investment

In a deal worth $28.25 million, Augusta Funds Management has established a single asset fund to acquire 741 Nudgee Road in Northgate.

The property is currently occupied by the Australian and New Zealand head office for Health World Limited, who have grown to become a market leader and one of the most trusted suppliers of Natural Medicines in these markets.

The deal brokered by Savills Industrial Callum Stenson and Kevin Carmody represented a 7.03% yield, with the site being secured by a lease that terminates at the end of 2028 with options to extend.

Callum Stenson said Augusta were quick to secure the deal of the 8,764sq m site, after the initial purchaser pulled out.

“Augusta immediately stepped into position to acquire the property, as a new long term lease was struck with the tenant.

Constructed in two stages between 2005 and 2007, the property comprises of a modern high-tech industrial warehouse office, and state-of-the-art production facility located on a high profile corner.

Augusta Capital Chief Operating Officer, Mr Guy French-Wright said that the acquisition was part of a broader strategy.

“The property was acquired to provide our investors with greater exposure to securely leased industrial real estate in a market which represents relative value when compared to Sydney and Melbourne.

“We are actively looking for both organic and platform related growth opportunities as we continue to grow our exposure to Australia,” Mr French-Wright says.

Augusta Capital is one of the largest and most diversified NZX-listed property funds management companies in New Zealand – with asset management capabilities across New Zealand and Australia.

Augusta owns and manages 114 properties across the office, retail and industrial sectors, with more than $1.7 billion of assets under management.

Healthworld brands include Inner Health Plus, Ethical Nutrients, Endura and Metagencis.