Bayleys schemes attract $18.1m

Monday 29 March 2004

Bayleys Real Estate in Auckland has raised $18.1 million from investors for syndicate-style ownership schemes which have $32.7 million worth of real estate, according to a senior executive.

By The Landlord

Bayleys executive Jeff Hurt, who is also a director of Investment Property Titles - the Bayleys subsidiary which does the transactions - said five funds had been launched from the Auckland office in the past two years.

These were P&O Cold Logistics, Tyco NZ, Donaghys Industries, Eskimo International Logistics and Scotia Place.

The funds had $14.6 million worth of debt.

Bayleys had multiple roles in these deals, acting as an agent selling the properties, offering a proportionate ownership scheme to investors and then managing the schemes.

Investment Property Titles, which offered the plans and manages the properties, is 70 per cent owned by Bayley Corporation and 30 per cent by Hurt.

Read More - Opens in a new window
Commenting is closed

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.


Demand challenges for commercial sector

Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.


LVR loosening likely - ANZ

LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.

Site by PHP Developer