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Washdyke Limited Partnership

Limited Partnership owning substantial industrial complex in Sheffield Street, Washdyke, Timaru.


COMMENCEMENT:        2023


INVESTMENT TYPE:       Wholesale   


PROPERTY TYPE:           Industrial


PROPERTY VALUE:        $10.24m


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  • The Key Features

    • The Washdyke Limited Partnership (‘The LP’) owns a substantial industrial precinct including seven buildings across three separate titles at Sheffield Street, Washdyke, Timaru.
    • There are currently seven established tenancies in place, with a Weighted Average Lease Term (W.A.L.T) of over 5.5 years.
    • The purchase price was $10.5m. Ford Baker Valuations valued the Property at $10.78m in September 2022. The Manager has assessed the Property at $10.24m in March 2024.
    • The total purchase, including acquisition and equity raising costs, was $11.4m.

  • The Investment Opportunity

    • This offer is only available to investors who qualify as wholesale investors under the relevant exclusion provisions of Schedule 1 of the Financial Markets Conduct Act 2013
    • 790 Partnership Interests of $10,000 each have been issued with a minimum investment of $50,000 (five interests), and then in multiples of $10,000 thereafter.
    • A proportion of the interests has been underwritten and these interests are available to wholesale investors.

  • The Location

    • Situated off the northern side of Sheffield Street in Washdyke. Sheffield Street is in an industrial cul-de-sac leading off the eastern side of Meadows Road. Washdyke is the principal industrial suburb of Timaru located on the northern periphery, either side of State Highway 1 and adjacent to the South Island Main Trunk Railway
    • Washdyke has been developed over the last 30 years and supports a wide range of industrial activities with the emphasis on the transport, logistics and rural servicing sectors. Located to the western side of the driveway entrance to the properties is the substantial Hilton Haulage headquarters property. Located nearby to the west is the substantial DB Breweries manufacturing plant and located on the opposite side of Sheffield Street are the Juice Products, Polarcold and Bluebird plants. The McCain’s coolstore complex is also located nearby.
    • The property is extremely well-located to principal road and rail arterials. Nearby is State Highway 1 and also the South Island Main Trunk Railway

  • The Properties

    • The LP leases are spread across three titles all zoned Industrial H Zone (Heavy Industrial).
    • The seven properties include 52, 54, 68, 68a, 70, 70a and 72 Sheffield. Street, Washdyke, Timaru and make up approximately 6.85ha in total land area.
    • The buildings have all been constructed since 2002 and range in size from 300m2 to 2,232m2.
    • The tenants are all proud local businesses who support Canterbury’s logistics, agriculture and construction sectors. 

  • The Structure

    • The LP is a managed investment scheme for the purposes of the Financial Markets Conduct Act 2013 (‘FMC Act’). As the LP is only open to wholesale investors (as that term is defined in the FMC Act) and is therefore not a regulated offer, the LP is not required to be registered under the FMC Act.
    • The LP has no fixed term. The LP and/or an individual Subscriber’s Interests in the LP may be terminated in various circumstances. These are provided for in Limited Partnership Agreement (‘LPA’).
    • The parties to the LPA are the Manager (Quarry Capital Limited), the General Partner (Washdyke GP Limited) and the Limited Partners (the investors).

Warning New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to this offer because there is an exclusion for offers where the amount invested upfront by the investor (plus any other investments the investor has already made in the financial products) is $750,000 or more. As a result of this exclusion, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for this investment. Investments of this kind are not suitable for retail investors. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.


This is not an offer to the public This offer is only available to investors certified as ‘wholesale investors’ within the meaning of clauses 3(2), 3(3)(a) and 3(3)(b) of Schedule 1 of the Financial Markets Conduct Act 2013.



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Washdyke

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