Queen of The Park

Managed Luxury Retirement Living

12%

Per Annum Return
Interest Paid to You Monthly
Secured Property Loan

This secured loan is to support early works for construction of Queen of the Park;
purpose-built luxury retirement living.

90 Apartments

10 Storeys + Basement Parking

Loan Security

This is a Secured Loan Facility comprising an all asset charge over the Borrower and the land owned by the Borrower. These 7 individual lots of land total 16,110m2.

Estimated Current Market Value of Land

$95,000,000.00 NZD

Asset Value

Estimated Asset Value on Completion

$253,140,200.00 NZD

The estimated value on completion of Queen of the Park reflects the expected initial apartment sales only. In addition to these first sales, the build presents a growing stream of recurring income.

Ongoing Revenue Stream

The true value of Queen of the Park will be realised in the years after the initial influx of capital. Each year, it is anticipated up to 5% of properties will be vacated, subject to fees, and then resold.

Estimated Aged Care Business Value on Completion

$94,127,689.00 NZD

Invest with Confidence

This opportunity is delivered by Gleneagle Securities, an Australian Investment Bank with over 1.2 billion in funds under management and advice.*

*Funds under management and advice relative to Gleneagle Securities (Aust) Pty Limited and its wholly owned subsidiaries.

Queen of The Park - Secured Property Loan

Industry Insights

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In 2021 there were estimated to be ~345,960 NZ residents 75+ years of age. By 2048, this is forecast to increase by over 140%.

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This represents an expected increase of ~31,737 retirement living residents by 2033.

Auckland makes the largest contribution to New Zealand’s estimated 75+ years population growth.

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It is predicted an additional 12,306 units are needed to meet the forecast demand. This far exceeds the country’s development pipeline.

Statistics Source: JLL Research; Statistics New Zealand

Development Site

The land sits in Epsom, one of Auckland, New Zealand's most prestigious suburbs, - and only 10 minutes to the CBD.
  • Construction of Queen of the Park and its sister building ‘Cardigan Bay’ (residential) to commence in March 2023.
  • The buildings form part of the wider ‘Parkview on Cornwall’ development.
  • All 7 land lots totalling 16,110m2 form part of this investment’s security pool.

Land security of 7 lots.
Future development illustrative only.

License to Occupy Model

Purpose-built as managed retirement living, the true value of Queen of the Park will be realised in the years after the initial influx of capital.

In addition to the first apartment sales, Queen of the Park will present a growing stream of recurring income. This takes the form of both ongoing deferred management fees and capital gains on the recurring resale of each property.

A deferred management fee, or exit fee, is an amount payable when a resident vacates their apartment.

The fee is calculated as a percentage (up to 30%) of the original purchase price and is deducted from the amount re-paid to the resident or their family upon them vacating.

On completion of the build, the average cost of a license to occupy (purchase) for each apartment will be $2,812,669.

Each year, it is anticipated up to 5% of properties will be vacated, subject to fees, and then resold.

Investment Terms

12%

Receive 12% per annum return on your investment

Paid Monthly

Interest paid to you monthly, with quarterly statements

Loan Security

Secured Loan Facility comprising an all asset charge over the Borrower and the land owned by the Borrower

Summary

Borrower

RT Parkview Pty Ltd as trustee for Gleneagle Parkview Trust

Valuation

Land Value: ~NZD$95m estimated post 7 lot subdivision
Value on Completion: ~NZD$557m anticipated land, asset and business value

Investment Loan

Proceeds used to support construction of early works and related costs

Interest

12% p.a., payable monthly

Loan Maturity

31st October 2023

Max LVR
75%
Investment Close

28th February 2023

Minimum Investment

AUD$50,000
(open only to sophisticated investors within the meaning of section 708(8) of the Corporations Act)

Loan Repayment

Early repayment allowed at discretion of borrower, subject to a minimum 6-month interest term

Loan Security

2nd Ranking Secured Loan Facility comprising an all asset charge over the Borrower and 2nd mortgage over the land owned by the Borrower, behind senior land secured financing of ~NZD$49.1m, and senior construction secured financing ~NZD$167m

Deed

Investors may request a copy of the trust deed if desired

Gleneagle Product Code

PARK12P2210

Access the Full Term Sheet

Gain instant access to the term sheet containing the Construction Schedule, Project Financials and more.

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Frequently Asked Questions

This project meets Gleneagle’s strict investment criteria, and we are uniquely placed to capitalise on development opportunities, regardless of their geographic location.

We have a strong track record in delivering similar projects in New Zealand and have a close working relationship with all consultants involved, (both in Australia and New Zealand.)
Where specifically noted, some financial figures have been reported in the project’s local currency – New Zealand Dollars (NZD).

However, Gleneagle is an Australian Investment Bank. Your investment in this product, respective interest payments made to you, and any reporting or statements provided to you, will always be in Australian Dollars (AUD).
Investors will subscribe for an allocation of units in the GE Parkview Lending Trust (1 Unit per $1 AUD Invested).

When interest is paid on the loan each month, the trust distributes that interest to investors, proportionate to the number of units they own.

This structure simplifies otherwise complex requirements relating to GST and withholding tax on interest.

Investors are paid interest monthly.

Statements are provided on a quarterly basis, however interest is paid to investors monthly.

This product is open only to sophisticated investors (within the meaning of section 708(8) of the Corporations Act). Learn more about qualifying as a Sophisticated Investor here.

Learn More

Questions? To learn more about this opportunity, please get in touch.

By clicking submit, I agree to the terms of Share Prices' & Australian Managed Funds' Financial Services Guide and to be contacted, in accordance with the Privacy Policy.

Share Prices Australia Pty Ltd (ACN 105 855 892) trading as Share Prices holds an Australian Financial Services Licence (AFSL 287367) and is authorised to provide general advice in Equities, Foreign Exchange and Derivative based products.

Share Prices Funds Management Pty Ltd (ACN 623 398 890) trading as Australian Managed Funds is a Corporate Authorised Representative (CAR No 1263287) of Share Prices Australia Pty Ltd (ACN 105 855 892)(AFSL 287367).

For the purposes of managed investments, Share Prices Funds Management Pty Ltd (ACN 623 398 890) trading as Australian Managed Funds is a Corporate Authorised Representative (CAR No 1263287) of Gleneagle Asset Management Limited ( ACN 103 162 278) (AFSL 226199).

All content provided on and through this website is general information only and does not take into account your own personal needs and objectives or financial situation. All information provided is general in nature and does not purport to be comprehensive or constitute as investment advice and should not be relied upon as such.

You should consult a professional adviser to help you form your own opinion of the information and on whether the information is suitable for your individual objectives and needs as an investor. Where necessary, you should obtain a Prospectus, Product Disclosure Statement or Supplementary Product Disclosure Statement relating to the product and consider it before making any decision about whether to acquire any investment product.

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The information provided on this website may include projections and / or estimates which constitute forward-looking statements. These expressed beliefs of future performance, events, results, or returns may not eventuate and as such no guarantee of these future scenarios is given or implied. Any forward looking statements are subject to uncertainties and risks that may mean those forecasts are materially different to actual events. As such, past performance is not an indicator of future performance.