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VIP Offer Closes Fully Subscribed
For Immediate Release
22 October 2013
VIP Offer Closes Fully Subscribed
Oyster Group’s syndication of VIP Packaging’s manufacturing, storage and distribution facility at 100 Harris Road East Tamaki, has closed fully subscribed.
It is the second proportionate ownership scheme offered by the company this year, with the first in Orion House, Grafton, closing early because of over-subscription.
Oyster chief executive Mark Schiele says the company had made available to investors 114 shares at $100,000 each, projecting annual pre-tax returns of 8.51 per cent.
VIP Packaging is a subsidiary of large Australian multi-national packaging company PACT Group, which owns a range of plastic and metal packaging businesses operating from 60 sites throughout Australia, New Zealand, Singapore and Thailand.
VIP will continue to occupy the property under a new 12 year lease, with a five year right of renewal.
Schiele said existing clients and new investors were attracted to Harris Road’s outstanding location, built-in rental growth and robust business profile.
The investment scheme and property will be managed by Oyster Group, which manages more than $600 million in property nationwide.
ENDS
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