First Light (GVT Property Fund) Limited

A portfolio of two modern properties, fully leased by Government tenants.

First Light Capital is pleased to present a unique investment opportunity in the acquisition of two high-quality, modern properties located in Hastings and Te Awamutu. Both properties were purpose-built to meet the specific requirements of their respective Government tenants. Each property boasts a 100% NBS seismic rating, offering peace of mind for investors.

This investment is made through a newly established PIE compliant Fund, offering investors the opportunity to benefit from properties at a low point in the property cycle. The Fund is projected to deliver an 8% p.a. pre-tax cash dividend (projected until 31st March 2027). In addition, the PIE structure caps the highest tax rate at 28%, providing significant tax advantages for some investors.

Fund Key Features

Inclusive of 2 properties

  • Two modern properties with 100% NBS seismic rating
  • WALT of 5 years (as of 9th October 2024)
  • Designed to current tenants specifications
  • Structured as a PIE Fund
  • Monthly distributions
  • Regular rent reviews
Register interest

Download application

Application Form - CompanyApplication Form - Non Residential IndividualApplication Form - Individual JointApplication Form - Trust

Underlying Fund Assets

506 Eastbourne Street West, Hastings

Hastings

  • Tenanted to Ministry of Social Development and Ministry of Children
  • 100% NBS Seismic Rating
  • EV charging outlets
  • Both tenants completed a full refurbishment of their tenancies in 2022.
  • Originally built in 2012
  • 2,459m2 Land Area (2,159 Lettable)
  • $593,625 Gross Rent p.a.

204 Sloane Street, Te Awamutu

Te Awamutu

  • Located within the business area of Te Awamutu
  • 30km south of Hamilton
  • Completed in 2020
  • Tenanted by Ministry of Children on an initial 9 year term
  • Dual Street Frontages
  • Parking for 18
  • Rent review is scheduled for July 2026, with a 3-yearly CPI accrual plus 1%. If all renewals are exercised, the final lease expiry will be on 1 July 2038.
  • 1,970m2 land area (1,974 lettable)
  • Gross Rent P.A $623,281