Herb garden to yield 6.5% into new Centuria agri offer

The sale and leaseback follows the purchase of Superb Herbs by Toroa Capital. (Image: CFM)

Fri, 16 Jun 2023

Centuria NZ expects to pay an initial 6.5% after-tax cash distribution to investors in its first rural venture, its agricultural property fund.The Australian stock exchange-listed property group, which has A$21.2 billion (NZ$23.2b) of assets under management, said the fund had been oversubscribed at May 29, raising an initial $18 million. The offer, for shares at $1 each with a $25,000 minimum, opened on April 22 and was open to retail trans-Tasman investors.The fund paid $15.8m for its initial property, a 29.7 hectare farm site on Fordyce...

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