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p.a. forecast pre-tax cash distribution, payable monthly1

25 The Terrace / 92 Lambton Quay, Wellington

Minimum investment $50,0002

Investment Highlights

New Zealand Government

Offices to be 100% leased to the New Zealand Government on a new 15-year lease with the Ministry of Business, Innovation and Employment (MBIE). The New Zealand Government office leases account for 90% of the property rental.

Long-term rental growth

Weighted Average Lease Term will be 14.04 years on settlement of the property4 and the leases to MBIE offer fixed 1.5% rental increases p.a. and a market rent review every six years3.

Significant property

18-storey office building comprises ground floor retail, two podium levels of office accommodation, a podium car park, and 15 levels of tower office accommodation. Recently strengthened with substantial refurbishment underway to the office floors and lobby.

Sought-after location

Well-located and easily accessible within the Wellington CBD in the heart of the parliamentary precinct.

About Oyster

Oyster is a leading New Zealand commercial property and fund manager. The company has expertise in property fund structuring and equity raising, and currently manages over 20 property funds structured for retail and wholesale investors including Oyster Industrial and the diversified Oyster Direct Property Fund.

Oyster manages a range of retail, office and industrial assets throughout New Zealand, with a combined value in excess of $1.8 billion.


The offer

Oyster Management Limited is offering investors the opportunity through a proportionate ownership scheme to acquire a proportionate share of, and beneficial interest in, the land and building at 25 The Terrace / 92 Lambton Quay, Wellington. Interests are being offered at $50,000 each. Investors may apply for one or more interest(s).

Key Information

Purchase Price $77,000,000
Valuation $77,000,000
Loan to Value Ratio5 48.4%
Investment Size $50,000 per interest
Total Interests6 887
Gross Rental $6,382,306 per annum
Forecast Pre-Tax Cash Return to Investor 6% per annum, payable monthly1

How do I invest?

Oyster Management Limited is the manager and the issuer of interests in the Pastoral House Proportionate Ownership Scheme.

Contact Oyster or Colliers as soon as possible to register your interest and for a copy of the Product Disclosure Statement.