Forestry Site

Awatea Forest Fund settles latest property

Roger Dickie N.Z. is proud to present  the latest property into the Awatea Forest Fund. 

“Goldstone” is a 446 hectare site in the strong forest growing area of Putorino, on a medium rolling site with steeper sidling’s, located 70km from the Port of Napier and 56km from Pan Pac Sawmill. 

It will add a total of 296.4 hectares of effective forest area to the Awatea Forest Fund, comprised of 63.9 hectares of existing plantings (mostly 2020 with ETS registration), 49 hectares in forest right, and a further 183.5 hectares to be established this year. 

The property has been acquired for $5.225 million and the dwellings, farm buildings and approximately 20 hectares will be subdivided in the coming months.

Goldstone received minor damage during Cyclone Gabrielle, with slipping in the steepest section where the 2020 plantings existed, this resulted in the successful renegotiation of purchase price. The more mature plantings have stabilised well and the areas to be planted this year require no reduction or remedial work.  

Goldstone has a forecast pre-tax IRR of 8.26%, with a current independent valuation 15.40% above purchase price, representing a material capital enhancement that will be captured by investors in the June quarter revaluation. 

This settlement takes the overall effective hectares of the Awatea Forest Fund to 1258ha and the team are working hard in the market to reach the targeted 5000ha. Early investors will continue to receive the benefit of any capital enhancement at the time the properties settle into the fund.

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Awatea Forest Fund is continuing to grow towards it's goal of 5000ha across New Zealand and provide Investors access to Forestry, Carbon and Land assets. With a targeted 7 - 10% annualised return, greater liquidity and increased diversity across locations and species.

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