OHC2 LIMITED: 33G Florence Avenue, Orewa

By Opoly

PledgeMe.Investment

Property,



NZ $53,500 pledged


36 people pledged


Closed


NZ $947,200 minimum target


Min

NZ$947,200

Max

NZ$947,200

5 5% Complete

Pledges will only be confirmed if the target is reached by: 09/06/2021 at 4:00 PM (NZST)

Make a Pledge

About

OHC2 LIMITED: 33G Florence Avenue, Orewa

We're excited to make it possible for all Kiwis to access the benefits of what we call, blockified property.

Think of a block as a share that starts at $100. Owning blocks is the same as owning shares in an Opoly Holding Company (OHC) that acquires an investment property in the event of a successful equity crowdfunding campaign. We are on a mission to make real estate investing accessible to all Kiwis. Our goal is to provide investors with returns that are competitive when compared to yields in the term deposit market.

OHC2’s investment offering to acquire 33G Florence Avenue, Orewa, Auckland, 0931, intends to provide Shareholders with regular, passive income and capital appreciation over time. To facilitate the proposed acquisition, OHC2 Limited seeks to raise $947,200 of equity.

Front

Inside
Inside 2
Opoly is timing this capital raise to satisfy the condition on the Sales & Purchase Agreement of purchasing the property following a successful Crowdfunding Campaign.

How it works

Step 1: Invest – Crowdfunding Campaign
Initially, investment properties are made available for crowdfunding. Each share always starts at $100.

Step 2: Earn – Net Rental Distributions
Get paid your share of Net Rental Distributions, as an Annual Dividend, directly to your bank account.

Step 3: Cash Out – Resale
Collect your share of proceeds at auction. Upon 3 years from the Crowdfunding Campaign, we intend to facilitate a real-life auction where each Shareholder will receive a proportional share of any sale proceeds in relation to each shareholding, plus return of capital, depending on what the property sells for at auction. 

The Information Memorandum contains important information about the Offer, and I encourage you to read it carefully and seek advice from a financial advisor before making an investment decision. As always, we are here to answer any questions you might have about the Offer.

Best regards,

Felix Watkins
Director 
OHC2 Limited

 

 

About our Team

Felix Watkins (25) - Director

Felix has been immersed in Information Technology from a young age. He successfully ran a software development company, working with a range of clients globally. Previously Felix worked for BlockchainLabsNZ, where he audited smart contracts, ensuring quality control and providing detailed reporting practices. Following this, Felix was recruited as the lead technical specialist for Menlo One, a protocol for developing scalable decentralized applications. Felix previously also organised the Blockchain Wellington meetup group, a growing community with 1250+ members who meet on a monthly basis to discuss the implications of blockchain technology, and its important role in the future.

Isaac Williams (25) - Property Advisor

Isaac was previously an Institutional Equities Trader and Financial Analyst with Woodward Partners, in Wellington. During that time, he was responsible for Direct Market Access trading for the likes of ACC, NZ Superannuation and Milford Funds. He was also a part of major research projects and has good experience conducting financial modelling and analysis. After working in Institutional Finance, Isaac worked as a Commercial Property Broker for NZCPB. Isaac holds a Bachelor of Finance and is a Licensed Real Estate Agent by the REAA.

 

A note from PledgeMe

We have completed Veda checks on the companies, OHC2 Limited and Opoly Limited, and their Directors, as well as Google and Insolvency checks. There were no adverse findings.

Updates

Hey! Thanks for checking out this project.

We haven't made any updates yet, follow us if you want to be notified when we do.

Details

Offer Details

Current Valuation 100
Raise Minimum 947,200
Raise Maximum 947,200
Share Price 100.00
Maximum Shares Offered 9,472
Explanation of valuation:

This is the amount to cover the property purchase price, the Opoly acquisition fee, the PledgeMe success fee, and the Directors fee (as outlined in the IM on page 8)

Financial Summary

Prev Year Current Year Est. FY 2023 Est. FY 2024
Revenue NZ $58,849 NZ $58,849 NZ $58,849 NZ $58,849
Operating Expenses NZ $12,289 NZ $12,289 NZ $12,289 NZ $12,289
EBITDA NZ $46,560 NZ $46,560 NZ $46,560 NZ $46,560
Net Profit NZ $46,560 NZ $46,560 NZ $46,560 NZ $46,560

Company Details

Company Name: OHC2 Limited

Company Number: 8167725

Company Documents

Documents no longer available to download, as this campaign has closed

Director Details

Name Role Profile URL Invested?
Felix Watkins Director https://www.linkedin.com/in/felix-watkins/

Questions 4

Ask a Question (You must login to ask a question)


Hi there, how does the rent per m compare to similar properties in the area?

Posted on 21-05-2021 by Steve Rickerby

Hi Steve, the rent per m2 is at market rate for the area of Orewa.

Answered on 21-05-2021 by Opoly


When reselling the property, if the auction sale price is insufficient to return a profit, will the sale still proceed with a potential loss, or would a reserve be set and the property held if unsold, or something else?

Posted on 21-05-2021 by Terry Woods

Hi Terry, if the property does not meet it's intended reserve price, there is an intention to hold the property in 1 year increments until it meets the intended reserve price, by way of auction.

Answered on 21-05-2021 by Opoly


Hi, do you have any independent valuation for the property? How has the property been sourced (i.e. through a real estate agent on an arms length basis?) The IM states that the tenant is currently Micromode Ltd t/a Caci Clinic, however the lease renewal shows the tenant is now Soul Mates Northland Limited which doesn't appear to be linked to CaciClinic. Do you have any visibility on the financial performance/position of the new tenant? Has the tenant stated their intention to exercise their right of renewal in June 2023? Thanks

Posted on 21-05-2021 by Matthew Keelty

Hi Matthew,
We have not obtained an independent valuation.
The property has been sourced through NAI Harcourts Tandem Realty.
Yes you are correct, the tenant is Soul Mates Northland Limited.
The Vendor has confirmed that Soul Mates Northland Limited are the new owners of Caci Clinic and took over from the renewal. We don’t have any information on the financial position of the tenant.
The tenant has expressed their intention to stay in their current location.
However, it is always the tenants right to end their tenancy at any renewal.

Answered on 25-05-2021 by Opoly


Just looking more closely at the stated profit, normally the tenant would pay the body Corp fees directly right ? So the opex should be removed from the rental return calculation? Also looks like management cost is missing. Could you confirm how much the ongoing management cost will be for years two and three ? Looks like the management contract has no limitation on what can be charged or contracted here. Thanks

Posted on 21-05-2021 by Steve Rickerby

Yes the tenant is paying the gross rental which is inclusive of OPEX which is why the OPEX is included in the expenditure.

Opoly Limited is taking on management costs throughout the duration of the holding period so this will not be passed onto shareholders. Opoly Limited will manage the payment of the OPEX, from the gross rent, paid from the tenant.

The Management Agreement limits what can be charged according to Schedule 2, Page 17.

Hope this helps!

Answered on 24-05-2021 by Opoly

Pledgers 36

Erena Fussell
2021-06-08 23:40:37 +1200
Tyrone Laurino
2021-06-08 19:47:51 +1200
Soraya
2021-06-06 21:07:28 +1200
Nadine Martin
2021-06-03 16:11:31 +1200
Jack Blakemore
2021-06-03 09:37:13 +1200
Terry Woods
2021-06-02 10:28:31 +1200
Sophia
2021-05-30 11:49:06 +1200

"Grow baby grow"

Suiluj Epolag
2021-05-30 11:19:53 +1200
Clint Roberts
2021-05-29 19:15:36 +1200
Russ Duncan
2021-05-29 10:04:24 +1200
isaac williams
2021-05-29 09:19:53 +1200
Paul Arraj
2021-05-28 10:20:23 +1200
Jason Alipao
2021-05-25 22:36:18 +1200

"So excited for this investment campaign!!! "

Julia Wilson
2021-05-24 14:57:11 +1200
Opoly
2021-05-24 09:06:00 +1200
Reuben Aita- Ilaoa
2021-05-24 00:00:45 +1200
Andrew Rowland
2021-05-23 22:06:39 +1200
Emily Allen
2021-05-22 23:04:22 +1200
Geoff Tobeck
2021-05-22 14:56:20 +1200
Andrew Denmead
2021-05-21 20:07:02 +1200
Michelle Ruscoe
2021-05-21 10:01:05 +1200
John Kirkland
2021-05-21 09:25:36 +1200
Annah
2021-05-21 08:59:11 +1200
Robyn Haydon
2021-05-21 08:49:51 +1200
Mike Andrewartha
2021-05-21 08:46:10 +1200
David Gordon
2021-05-21 08:40:01 +1200
Renate Simenauer
2021-05-21 08:33:40 +1200
Megan Tomalin
2021-05-21 08:19:18 +1200
Christine Parkinson
2021-05-21 08:17:33 +1200
Leaf wolfe
2021-05-19 21:16:21 +1200

Followers 8

OHC2 LIMITED: 33G Florence Avenue, Orewa

We're excited to make it possible for all Kiwis to access the benefits of what we call, blockified property.

Think of a block as a share that starts at $100. Owning blocks is the same as owning shares in an Opoly Holding Company (OHC) that acquires an investment property in the event of a successful equity crowdfunding campaign. We are on a mission to make real estate investing accessible to all Kiwis. Our goal is to provide investors with returns that are competitive when compared to yields in the term deposit market.

OHC2’s investment offering to acquire 33G Florence Avenue, Orewa, Auckland, 0931, intends to provide Shareholders with regular, passive income and capital appreciation over time. To facilitate the proposed acquisition, OHC2 Limited seeks to raise $947,200 of equity.

Front

Inside
Inside 2
Opoly is timing this capital raise to satisfy the condition on the Sales & Purchase Agreement of purchasing the property following a successful Crowdfunding Campaign.

How it works

Step 1: Invest – Crowdfunding Campaign
Initially, investment properties are made available for crowdfunding. Each share always starts at $100.

Step 2: Earn – Net Rental Distributions
Get paid your share of Net Rental Distributions, as an Annual Dividend, directly to your bank account.

Step 3: Cash Out – Resale
Collect your share of proceeds at auction. Upon 3 years from the Crowdfunding Campaign, we intend to facilitate a real-life auction where each Shareholder will receive a proportional share of any sale proceeds in relation to each shareholding, plus return of capital, depending on what the property sells for at auction. 

The Information Memorandum contains important information about the Offer, and I encourage you to read it carefully and seek advice from a financial advisor before making an investment decision. As always, we are here to answer any questions you might have about the Offer.

Best regards,

Felix Watkins
Director 
OHC2 Limited

 

 

About our Team

Felix Watkins (25) - Director

Felix has been immersed in Information Technology from a young age. He successfully ran a software development company, working with a range of clients globally. Previously Felix worked for BlockchainLabsNZ, where he audited smart contracts, ensuring quality control and providing detailed reporting practices. Following this, Felix was recruited as the lead technical specialist for Menlo One, a protocol for developing scalable decentralized applications. Felix previously also organised the Blockchain Wellington meetup group, a growing community with 1250+ members who meet on a monthly basis to discuss the implications of blockchain technology, and its important role in the future.

Isaac Williams (25) - Property Advisor

Isaac was previously an Institutional Equities Trader and Financial Analyst with Woodward Partners, in Wellington. During that time, he was responsible for Direct Market Access trading for the likes of ACC, NZ Superannuation and Milford Funds. He was also a part of major research projects and has good experience conducting financial modelling and analysis. After working in Institutional Finance, Isaac worked as a Commercial Property Broker for NZCPB. Isaac holds a Bachelor of Finance and is a Licensed Real Estate Agent by the REAA.

 

A note from PledgeMe

We have completed Veda checks on the companies, OHC2 Limited and Opoly Limited, and their Directors, as well as Google and Insolvency checks. There were no adverse findings.

Hey! Thanks for checking out this project.

We haven't made any updates yet, follow us if you want to be notified when we do.

Offer Details

Current Valuation 100
Raise Minimum 947,200
Raise Maximum 947,200
Share Price 100.00
Maximum Shares Offered 9,472
Explanation of valuation:

This is the amount to cover the property purchase price, the Opoly acquisition fee, the PledgeMe success fee, and the Directors fee (as outlined in the IM on page 8)

Financial Summary

Prev Year Current Year Est. FY 2023 Est. FY 2024
Revenue NZ $58,849 NZ $58,849 NZ $58,849 NZ $58,849
Operating Expenses NZ $12,289 NZ $12,289 NZ $12,289 NZ $12,289
EBITDA NZ $46,560 NZ $46,560 NZ $46,560 NZ $46,560
Net Profit NZ $46,560 NZ $46,560 NZ $46,560 NZ $46,560

Company Details

Company Name: OHC2 Limited

Company Number: 8167725

Company Documents

Documents no longer available to download, as this campaign has closed

Director Details

Name Role Profile URL Invested?
Felix Watkins Director https://www.linkedin.com/in/felix-watkins/

Ask a Question (You must login to ask a question)


Hi there, how does the rent per m compare to similar properties in the area?

Posted on 21-05-2021 by Steve Rickerby

Hi Steve, the rent per m2 is at market rate for the area of Orewa.

Answered on 21-05-2021 by Opoly


When reselling the property, if the auction sale price is insufficient to return a profit, will the sale still proceed with a potential loss, or would a reserve be set and the property held if unsold, or something else?

Posted on 21-05-2021 by Terry Woods

Hi Terry, if the property does not meet it's intended reserve price, there is an intention to hold the property in 1 year increments until it meets the intended reserve price, by way of auction.

Answered on 21-05-2021 by Opoly


Hi, do you have any independent valuation for the property? How has the property been sourced (i.e. through a real estate agent on an arms length basis?) The IM states that the tenant is currently Micromode Ltd t/a Caci Clinic, however the lease renewal shows the tenant is now Soul Mates Northland Limited which doesn't appear to be linked to CaciClinic. Do you have any visibility on the financial performance/position of the new tenant? Has the tenant stated their intention to exercise their right of renewal in June 2023? Thanks

Posted on 21-05-2021 by Matthew Keelty

Hi Matthew,
We have not obtained an independent valuation.
The property has been sourced through NAI Harcourts Tandem Realty.
Yes you are correct, the tenant is Soul Mates Northland Limited.
The Vendor has confirmed that Soul Mates Northland Limited are the new owners of Caci Clinic and took over from the renewal. We don’t have any information on the financial position of the tenant.
The tenant has expressed their intention to stay in their current location.
However, it is always the tenants right to end their tenancy at any renewal.

Answered on 25-05-2021 by Opoly


Just looking more closely at the stated profit, normally the tenant would pay the body Corp fees directly right ? So the opex should be removed from the rental return calculation? Also looks like management cost is missing. Could you confirm how much the ongoing management cost will be for years two and three ? Looks like the management contract has no limitation on what can be charged or contracted here. Thanks

Posted on 21-05-2021 by Steve Rickerby

Yes the tenant is paying the gross rental which is inclusive of OPEX which is why the OPEX is included in the expenditure.

Opoly Limited is taking on management costs throughout the duration of the holding period so this will not be passed onto shareholders. Opoly Limited will manage the payment of the OPEX, from the gross rent, paid from the tenant.

The Management Agreement limits what can be charged according to Schedule 2, Page 17.

Hope this helps!

Answered on 24-05-2021 by Opoly

Erena Fussell
2021-06-08 23:40:37 +1200
Tyrone Laurino
2021-06-08 19:47:51 +1200
Soraya
2021-06-06 21:07:28 +1200
Nadine Martin
2021-06-03 16:11:31 +1200
Jack Blakemore
2021-06-03 09:37:13 +1200
Terry Woods
2021-06-02 10:28:31 +1200
Sophia
2021-05-30 11:49:06 +1200

"Grow baby grow"

Suiluj Epolag
2021-05-30 11:19:53 +1200
Clint Roberts
2021-05-29 19:15:36 +1200
Russ Duncan
2021-05-29 10:04:24 +1200
isaac williams
2021-05-29 09:19:53 +1200
Paul Arraj
2021-05-28 10:20:23 +1200
Jason Alipao
2021-05-25 22:36:18 +1200

"So excited for this investment campaign!!! "

Julia Wilson
2021-05-24 14:57:11 +1200
Opoly
2021-05-24 09:06:00 +1200
Reuben Aita- Ilaoa
2021-05-24 00:00:45 +1200
Andrew Rowland
2021-05-23 22:06:39 +1200
Emily Allen
2021-05-22 23:04:22 +1200
Geoff Tobeck
2021-05-22 14:56:20 +1200
Andrew Denmead
2021-05-21 20:07:02 +1200
Michelle Ruscoe
2021-05-21 10:01:05 +1200
John Kirkland
2021-05-21 09:25:36 +1200
Annah
2021-05-21 08:59:11 +1200
Robyn Haydon
2021-05-21 08:49:51 +1200
Mike Andrewartha
2021-05-21 08:46:10 +1200
David Gordon
2021-05-21 08:40:01 +1200
Renate Simenauer
2021-05-21 08:33:40 +1200
Megan Tomalin
2021-05-21 08:19:18 +1200
Christine Parkinson
2021-05-21 08:17:33 +1200
Leaf wolfe
2021-05-19 21:16:21 +1200
This campaign was unsuccessful and finished on 09/06/2021 at 4:00 PM.

This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in OHC2 LIMITED: 33G Florence Avenue, Orewa, you can sign up to be notified when a new equity campaign from this company is published.

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Equity crowdfunding is risky.

Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.