PLP - Property valuation review leads to uplift in value

GENERAL

Thu, Dec 22 2022 05:20 pm

PLP – Property valuation review leads to uplift in fund value

22 December 2022

Booster Investment Management Limited (Booster) as manager of the Private Land and Property Portfolio (the wholesale fund into which the PLP invests) has received an updated independent valuation report for the land and buildings held by Waimea West Hops Limited, a company in which the Private Land and Property Portfolio holds a 50% interest.

In consideration of the independent valuation report, Booster has adopted a valuation increase of $0.8 million, which represents an 8.6% increase in the value of the interest in Waimea West Hops Limited and a change of 0.6% to the net asset value of PLP, increasing the most recent NAV (the unit price at which units are issued by the manager) from $1.297 per unit to $1.305.

For more information, please contact:
Gary Scott
Company Secretary
Booster Investment Management Limited
04 8944300

About Booster
Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of the Booster Group which has been helping New Zealanders save since 1998. The group currently administers superannuation and investment funds of over $5 billion on behalf of more than 170,000 New Zealanders.
PLP is a managed investment fund that invests in land and property-based investments by investing in units in Booster’s Private Land and Property Portfolio. PLP only holds these units.
For more information, including a copy of the Product Disclosure Statement and the latest net asset value per unit, please visit www.booster.co.nz