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Duke Street Limited Partnership

Property Large commercial property situated at 17 Duke Street, Sawyers Bay, Dunedin comprising a 7,700sqm warehouse and offices. Currently under construction, due for completion during November 2021
Tenant Leading South Island transport and distribution business Hilton Haulage
Purchase The land was purchased in March 2021 for $4.0m and the buildings purchased for a fixed construction price of $12.725m, settling in June 2021
Structure Limited Partnership comprising of 404 partnership interest shares of $25,000 each
Returns Pre-tax cash distributions of 4.0% p.a. paid monthly during construction and 7.0% upon completion
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