On Thursday 15 November, Regional Economic Development Minister Shane Jones announced a $80 million funding boost to the Manawatū-Whanganui region in the form of rural broadband, expansion a driver-training centre near Fielding, and a new freight hub near Palmerston North.
In the announcement, Shane Jones said the funding boost will have major economic benefits for the region. The announcement comes five days after Property Managers Group (PMG) launched an Offer to the market for the acquisition of EziBuy’s industrial property in Palmerston North.
PMG CEO Scott McKenzie says this sort of significant investment in the region by Government, is positive for surrounding landowners and businesses, particularly given the forecasted demands on freight moving through the region, is expected to increase by 60% in the next two decades.
“This announcement is an exciting one for us having just launched an Offer to the market, in our largest unlisted diversified fund, Pacific Property Fund Limited, for the acquisition of an excellent industrial property in the Manawatu, at 31 El Prado Drive, near Palmerston North Airport and tenanted by EziBuy,” says Scott.
“Having undertaken in-depth due diligence on the EziBuy property and having looked into the market in the Manawatu, we knew the region was experiencing increased demand for quality industrial properties, with a number of Wellington-based firms looking for space in the region.”
“This announcement reconfirms to us, that the proposed acquisition of the property and the Offer in Pacific Property to investors, is the right one and we should see good growth in value over time, for the property and ultimately the fund,” says Scott.
Interested to hear how you can take part in PMG’s latest offer in Pacific Property Fund and own a share of the fund which owns the EziBuy building? Click here for more information.
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To start investing with PMG, register your contact details via phone or email. Alternatively, make an enquiry via our contact form and we’ll have someone from our Investment Relationships Team meet you.
Watch PMG’s history video to learn more about our approach to commercial property investments, along with the five funds within the company. We encourage you to speak with a friend or family member who knows us, and we also recommend you chat with a Financial Advice Provider for specific advice to suit your unique situation.
Look through our current investment offers to find the right PMG fund to suit you. After downloading, carefully review the associated Product Disclosure Statement(s) for the offer(s) you’re interested in. Investing with us is straightforward – either apply online using our secure and confidential investor portal, via the printable form on each fund page, or reach out to your local PMG office to fill out the relevant paperwork.
Our lines of communication are always open. If you have any questions, reach out to your local PMG Investor Relationships Manager. Whether it’s a general catch up or discussion around the latest developments with your investment, we’re here to help.