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Springs Road Property Limited

Springs Road Property Limited was incorporated in 1997, and has 124 Shareholders. The company owns a single property at 7 Springs Road, East Tamaki, Auckland. The building is a modern 4 level building with distinct architectural influence.

Current tenants are Counties Manukau Health , Ministry for Pacific Peoples, Sewtec and Cafe Concepts.. The building is fully tenanted.

Stapled investment parcels are made up of one Mortgage Bond, with an issue value of $4,000 and 1,000 shares (issue value $1.00 per share). Mortgage Bonds are issued under a Mortgage Trust Deed between the Issuer and Trustee Executors Limited. Interest is paid quarterly against the Mortgage Bond at the lower of 12.5% or the current 90 day bank bill rate plus 4%. The 90 day bank bill rate on 1 April 2016 was 2.39%. Therefore, the interest rate payable on Mortgage Bonds will be 6.39% per annum for the period 1 April 2016 to 31 March 2017. In order to preserve the overall return on each parcel of Mortgage Bonds and Shares at 10% (on an issue price of $5,000 per parcel) the Board has, historically, paid a discretionary dividend. The discretionary dividend is subject to the Company’s revenue performance and capital expenditure that may be required.

Annual reports | 2015 | 2016 | 2017

Secondary Market Listings :Click here to access more detail on the availability of parcels in Springs Road Property Limited.

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