Centuria punts high yield, upmarket storage as next big thing

The proposed College Hill upper-end storage and retail facility. (Image: Centuria)

Wed, 15 Nov 2023

Centuria New Zealand will launch a roadshow to wholesale investors next week, rolling out its latest ‘value add’ fund, dangling an annual pre-tax return of 13% to investors, backed by upper-end secure storage for luxury goods.The value-add fund No. 2 aims to raise about $23 million in equity for the purchase of a four-level, 4,314-square-metre mixed-use warehouse and office property at Freeman’s Bay as its sole asset.Centuria, which manages about $2.6 billion in local assets, said it will refurbish the site at 43 College Hill...

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