The Oyster Direct Property Fund (DPF) settled the $10.9 million purchase of 107 Harris Road, East Tamaki, Auckland on Friday, 22 June 2018.
The 8,000m² site contains four high quality trade retail tenancies and two industrial warehouse and yard occupiers. Three high-calibre tenants occupy the street front showroom and warehouse units, all of which are signed to new five-year leases.
The Oyster Direct Property Fund aims to provide investors with a stable monthly income stream, combined with the potential for capital growth, through investing in, now, 12 quality commercial property assets.
Coming up to the second anniversary since the funds’ inception, the Oyster DPF now has over 400 investors, investor equity of over $55 million, and has experienced an annualised total return since inception of 14.6% to May 2018.
Mark Schiele, Oyster Chief Executive, says “The growth of the Oyster DPF in its first two years supports our view that there are a growing number of investors wanting to participate in an unlisted diversified fund exposed to quality commercial properties. We will continue to explore opportunities that meet retail investor demand, both for the DPF and single/dual property asset investments.”