Lot 30 Ashburn Street, Oamaru, Otago

By Opoly

PledgeMe.Investment

Property,



NZ $85,800 pledged


160 people pledged


Closed


NZ $107,500 minimum target


Min

NZ$107,500

Max

NZ$107,500

79 79% Complete

This campaign failed to reach its target by 19/12/2021 at 4:00 PM (NZDT) and is now closed.

Make a Pledge

About

Lot 30 Ashburn Street, Oamaru, Otago

Invest in land with rising population growth from $100.

What is Opoly and how does land investment work?

Our goal is to provide investors with returns that are competitive when compared to yields in the term deposit market.

"While many people think putting their money in a bank is the safest option, sophisticated investors, however, know that banks are really one of the worst places to keep your money." - from Q Wealth Expert Evgeny Orlov

Land investment is the practice of buying a piece of land based on its potential for future sale, development or subdivision. If we choose the right areas, land is a resource with a supply that is always going down (after all, they aren’t making any more of it) and a demand that is constantly on the rise.

Unlike most residential and commercial investments, land costs very little to maintain… no utility payments, no tenant problems, no termite infestations, no leaky faucets, no broken toilets, and if you buy it with Opoly, no mortgage repayments.

Our mission is to empower everyday Kiwis to become land owners.


The Opportunity

Oamaru is the third largest town in Otago behind Dunedin and Queenstown. Oamaru is also New Zealand's “Best Wee Town”. With every new edition of the Lonely Planet guide to New Zealand in recent years there has been a number of pages devoted to Oamaru, and the surrounding area has grown progressively larger.

Oamaru population density has been historically increasing, which shows us that the supply of land being made available, is not keeping up with rising population growth.


Source: City-Facts.com

Oamaru’s population is expected to rise over the next ten years at an increasing rate of approx 8.6%. That means that over the next three years, the population is estimated to increase by approx 2.58% or 326 new people. 


Source: City-Facts.com

The Property

There are not too many sections around in Oamaru and in a good northend location just a short walk from schools and northend amenities. On offer is this fantastic opportunity to secure an elevated 1018m2 residentially zoned section.


Source: Homes.co.nz

Property Market Inights - 5 Year Capital Growth (Oamaru)


Source: OneRoof

Capital growth, is an increase in the value of an asset or investment over time. It does not consider adjustments for Consumer-Price Index (CPI). Capital growth is measured by the difference between the current value, or market value, of an asset or investment and its purchase price, or the value of the asset or investment at the time it was acquired.

We note that market conditions may change during the term of the investment.

*Historical performance is not indicative of future performance.

Photos

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 decentralised 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 Equifax checks on the company Lot 30 Ashburn Street Limited and their Directors, as well as Google and Insolvency checks. There were no adverse findings.

Updates 4

UPDATE to all of our investors - 5 days left to raise $24,800

14/12/2021 at 2:16 PM

A huge thank you to our 149 investors so far. We are getting very close to reaching our target with just 5 days left!

We would like to take this opportunity to explain our estimated resale price for this section located at Lot 30 Ashburn Street, Oamaru, Otago.

Oamaru is a fast growing area with historical suburb growth growing on average 12.22%* annually for the past 5 years.

(61.11 / 5 = 12.22% growth rate per year)


This data has been sourced from OneRoof and can be found here:

https://www.oneroof.co.nz/suburb/oamaru-waitaki-3938



We have an estimated resale price of $133,500 for this section which reflects a growth rate of 7.50% compounded annually. 

We have used a 7.50% annual growth rate estimation for the purposes of providing investors with a conservative growth projection relative to the historical average for recent sales of properties in the area.

We would like to further clarify that this is an estimation only of the resale price and we will endeavour to achieve the best return for shareholders.
Opoly intends to market the property after 3 years until the property has sold.

Please help us share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

If you decide to invest by clicking 'Make a Pledge' you won't be required to make payment unless the minimum target is reached.

Sincerely,

Opoly Team

A message to our 142 investors so far... only $29,700 needed to reach our goal

09/12/2021 at 7:42 PM

Time is starting to tick over as our Offer Close Date of 19th December is now only 10 days away.

We have reached over 72% funding ($77,800) towards the acquistion of Lot 30 Ashburn Street, Oamaru.

This is a solid effort, however to meet the target and for this deal to go through succesfully, we still require an additional $29,700 invested to meet the minimum funding target of $107,500.

If everyone was theoretically able to double their pledge, we will all be well on our way to owning a share in this prime piece of land, as we anticipate growth in the area over the next 3 years.

If we do not crowdfund this section, it is highly likely it will be purchased by an individual who is able to capitalise on the growth of this area. 

Please share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

If you decide to invest you won't be required to make payment unless the minimum target is reached.

Sincerely,

Opoly Team

Last 3 weeks! 21 days remain to raise remaining $38,800 for Lot 30 Ashburn Street.

28/11/2021 at 1:35 PM

To all of our investors and potential investors. . .

Only 3 weeks to go for our last property crowdfund of 2021 🌄🥳

To date we have had 125 investors who will all become shareholders in Lot 30 Ashburn Street in the event we are able to reach the minimum target of $107,500.

If you decide to invest you won't be required to make payment unless the minimum target is reached.

After 3 years we have an estimated resale price of $133,500 (+24.18%)* for this section.

Each shareholder will receive 100% of the resale proceeds proportional to how many shares they own.

At the time of this update we have raised $68,700. We now only need to raise an additional $38,800.

If everyone DOUBLED their pledge we would crowdfund 100% today.

For more information about the offer and how it works check out our Information Memorandum below:

https://opoly.co.nz/Lot_30_Asburn_Street_Information_Memorandum

Please share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

Sincerely,

Opoly Team

30 DAYS REMAIN TO RAISE $57,500

17/11/2021 at 12:23 PM

To all of our investors and potential investors. . .

Oamaru is a growing area with population growth, rising population density, and a shortage of available land.

To date we have had 90 investors who will all become shareholders in Lot 30 Ashburn Street in the event we are able to reach the minimum target of $107,500.

If you decide to invest you won't be required to make payment unless the minimum target is reached.

After 3 years we have an estimated resale price of $133,500 (+24.18)* for this section.

Each shareholder will receive 100% of the resale proceeds proportional to how many shares they own.

At the time of this update we have raised $50,000. We now only need to raise an additional $57,500.

If everyone DOUBLED their pledge we would crowdfund 100% today.

For more information about the offer and how it works check out our Information Memorandum below:

https://opoly.co.nz/Lot_30_Asburn_Srteet_Information_Memorandum

Please share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

Sincerely,

Opoly Team

    Details

    Offer Details

    Current Valuation 100
    Raise Minimum 107,500
    Raise Maximum 107,500
    Share Price 100.00
    Minimum Pledge 100.00
    Maximum Shares Offered 1,075
    Explanation of valuation:

    This is the amount to cover the lot purchase price, the Opoly acquisition fee, the PledgeMe success fee, and the Cash Reserve (as outlined in the IM on page 8). Three years after the purchase of the property, the Company intends to sell the property via a private sale by negotiation. The Company intends the property to have an estimated resale price of $133,500 (as outlined on page 6 of the IM).

    Financial Summary

    Prev Year Current Year Est. FY 2024 Est. FY 2025
    Revenue NZ $ NZ $ NZ $ NZ $
    Operating Expenses NZ $ NZ $ NZ $ NZ $
    EBITDA NZ $ NZ $ NZ $ NZ $
    Net Profit NZ $ NZ $ NZ $ NZ $

    Company Details

    Company Name: Lot 30 Ashburn Street Limited

    Company Number: 8192922

    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 10

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


    You state the following….
    We have used a 7.50% annual growth rate estimation for the purposes of providing investors with a conservative growth projection relative to the historical average for recent sales of properties in the area.

    It seems to me that that 7.5% growth include growth on the fees paid to Opoly, and PledgeMe.

    Doesn’t this mean the 90k investment in land would require significantly above market average growth to achieve?

    Posted on 15-12-2021 by Adrian Edge

    Hi Adrian,

    Assuming you acquired the land for $90,000 without paying ANY fees or rates the section would require a theoretical growth rate of 14.05% compounded annually (90000*1.1405^3) to reach our estimated resale price of $133,500.

    According to OneRoof Historical Suburb Growth in the area has been 12.22%* annually for the past 5 years.

    It is up to investors to decide whether or not they see Lot 30 Ashburn Street as a suitable investment opportunity. No shareholder returns are guaranteed and potential returns are dependent on where the market is in 3 years.

    Thanks,

    Opoly Team

    Answered on 16-12-2021 by Opoly


    I have just read your latest update. Can you please clarify the annual growth required on the land to go from 90k purchase price to your estimated 133k sale price?

    Posted on 15-12-2021 by Adrian Edge

    Hi Adrian,

    Our estimated resale price of $133,500 is an estimation only and should not be taken as an indicative annual growth rate. As per Section 2.4 of the IM:

    The actual resale price will be at the discretion of Opoly Limited (Manager).

    Thanks,

    Opoly Team

    Answered on 16-12-2021 by Opoly


    Hi, Can you please clarify the position on unexpected expenses.... you state this in the investement memorandum. "* In the event rates are in excess of the Cash Reserve, Opoly Limited (Manager) will cover these costs at no additional expense to the Shareholder." However in the Management agreement, 3.7(a) you state "To the extent these costs are paid by the Manager, the Company will reimburse the Manager. " This is ambiguous and misleading, can you please clarify?

    Posted on 06-12-2021 by Adrian Edge

    Hi Adrian,

    Yes that is correct, Section 3.7(a) applies as per the Management Agreement.

    As per the Information Memorandum, in regards to any increase in rates that exceed the Cash Reserve, we have chosen to to cover any additional increase in rates that exceed the Cash Reserve, at no additional expense for the sole benefit of the Shareholder.

    It is our view we have not been misleading as we have been fully transparent with all of our offer documentation.

    Thanks,

    Opoly Team

    Answered on 06-12-2021 by Opoly


    Hi, can you please provide a breakdown of the specific costs covered by the reserve fund, ie what are the known costs? Ie, how much is the conveyancing, rates, maintenance, and how much is actually being kept in reserve?

    Posted on 27-11-2021 by Adrian Edge

    Hi Adrian,

    As per Page 8 in the I.M there is $5,000 allocated towards the Cash Reserve and covers conveyancing, filing annual returns and ongoing costs such as rates and any unexpected expenses relating to the property

    It is estimated rates will be $2,500-$2,750 in total over the next 3 years.

    In the event rates are in excess of the Cash Reserve, Opoly Limited (Manager) will cover these costs at no additional expense to the Shareholder.

    We estimate conveyancing to be $1,500. The fee for filing an annual return is $45.39 (plus GST). This includes levies of $17.39 for the Financial Markets Authority (FMA) and $6 for the External Reporting Board (XRB) and $1 for the Insolvency Practitioners Regime (IP).

    It is intended any remaining funds in the Cash Reserve are to be returned to Lot 30 Ashburn Street Shareholders following resale of the property.

    Thanks for your question.

    Opoly Team

    Answered on 28-11-2021 by Opoly


    Is there an ongoing maintenance cost? Ie mowing etc?

    Posted on 27-11-2021 by Adrian Edge

    Hi Arian,

    No there is not an ongoing maintenance cost.

    As per Page 8 in the I.M there is $5,000 being allocated towards the Cash Reserve and covers conveyancing, filing annual returns and ongoing costs such as rates and any unexpected expenses relating to the property

    It is intended any remaining funds in the Cash Reserve are to be returned to Lot 30 Ashburn Street Shareholders following resale of the property.

    Thanks,

    Opoly Team

    Answered on 28-11-2021 by Opoly


    Hi, can you please clarify the Maximum Investment section on page 16? There appears to be an inconsistency between 20% and 50k?

    Posted on 27-11-2021 by Adrian Edge

    Hi Adrian,

    Thanks for pointing this out. The amount of $50,000 is a typo from using our previous Information Memorandum Template from a previous property.

    As per the Company Constitution there can only be a maximum shareholding of 20% by 1 individual entity.

    For the purposes of this offer, this equals $21,500. Hope this helps.

    Thanks,

    Opoly Team

    Answered on 28-11-2021 by Opoly


    Following on from Adrian's questions - ELI5 - After you take out your fees, rates and stuff, what growth in steep, blank land with better land just up the hill need to achieve for me to get more back than what I paid in 5 years time? Most of your flyby video shows neighbouring plots and only the flattest part of lot 30 by the road.

    Subsequent question - how long has lot 30 already been available to anyone willing to buy (i.e. when was it first listed?)?

    Thanks.

    Posted on 22-11-2021 by Thomas McD

    Hi Thomas,

    Thanks for your query.

    Lot 30 Ashburn Street was listed on 29th October, 2021 and we have had the property under contract from 4th November, 2021.

    The fees are built in to the Crowdfunding Campaign amount of $107,500. There is no ongoing management fees and no cost to the Shareholder associated with the intended resale of this property upon 3 years from the Offer Close Date.

    Please refer to Page 8 of the Information Memorandum for a full break-down of this.

    Regards,

    Opoly Team

    Answered on 23-11-2021 by Opoly


    I am sorry, I can’t see anything on page six that explains how you came up with the estimated final valuation? There is some information on population growth, on historic market growth? But nothing on how this section in particular will go from 90k to 133.6k over three years.

    Posted on 19-11-2021 by Adrian Edge

    As mentioned previously, our estimated resale price and calculation has been noted on Page 6 of the Information Memorandum.

    Please see this in the attached highlights made below:

    https://i.imgur.com/7f18sGr.png

    The acquisition price for this section is $107,500 (inclusive of fees, rates, and conveyancing).

    Please refer to Page 8 of the Information Memorandum for a full break-down of this.

    We make absolutely no guarantee that this section will increase to be worth $133,500 in three years.

    As mentioned previously, the estimated resale price is based on our own estimations, but will be at the discretion of Opoly (as the Manager) who will seek to achieve the highest possible resale price for Shareholders after 3 years from the Offer Close Date.

    Regards,

    Opoly Team

    Answered on 19-11-2021 by Opoly


    Could you please provide some detail on how you came up with your estimate?

    Posted on 19-11-2021 by Adrian Edge

    Hi Adrian,

    This can be found in our Information Memorandum. Please refer to Page 6 of the Information Memorandum for how this has been calculated.

    Regards,

    Opoly Team

    Answered on 19-11-2021 by Opoly


    Assuming a purchase price of 90k, wouldn’t you require closer to 15% annual growth to achieve a sale price of $133k? And doesn’t that seem a wee bit optimistic?

    Posted on 17-11-2021 by Adrian Edge

    Hi Adrian,

    Please refer to Section (C) on Page 2 of the Shareholders Resolutions attached under the "Company Documents" tab on PledgeMe.

    The estimated resale price is based on our own estimations, but will be at the discretion of Opoly (as the Manager) who will seek to achieve the highest possible resale price for Shareholders after 3 years from the Offer Close Date.

    Regards,

    Opoly Team

    Answered on 19-11-2021 by Opoly

    Pledgers 160

    Edward Langston
    2021-12-17 11:53:19 +1300
    Sam Vernon
    2021-12-16 19:09:54 +1300
    Tracey Mackay
    2021-12-16 12:51:32 +1300
    Curtis Stallworthy
    2021-12-16 10:47:52 +1300
    Gary
    2021-12-16 10:41:12 +1300
    Graham L Dawson
    2021-12-16 10:25:58 +1300
    Will Chopping
    2021-12-16 10:11:34 +1300
    Joe
    2021-12-15 12:10:41 +1300
    Malcolm Tangitutu
    2021-12-15 10:27:03 +1300
    Louise Tangitutu
    2021-12-15 06:42:27 +1300
    Brian Lacey
    2021-12-14 19:01:31 +1300

    "This is a 2nd pledge of $100 for this campaign on behalf of Fridays Group Limited. Good luck with the goal & we look forward to many more!"

    Peni Moi Baleira Macu
    2021-12-14 13:41:21 +1300
    Tracy Bull
    2021-12-13 23:17:48 +1300
    Nadine Martin
    2021-12-13 12:27:29 +1300
    Kiwilite Limited
    2021-12-10 16:56:47 +1300
    Wee Ming Soh
    2021-12-10 16:12:40 +1300
    TRACEY FISHER
    2021-12-10 06:28:17 +1300
    Jenni Topliss
    2021-12-09 20:03:35 +1300
    Andrew Day
    2021-12-09 06:22:35 +1300
    Adam Crisp
    2021-12-08 22:59:11 +1300
    Peni Moi Baleira Macu
    2021-12-08 16:46:56 +1300
    Patricia Pera
    2021-12-08 16:25:49 +1300
    Elizabeth Hale
    2021-12-07 21:34:41 +1300
    Harry Saley
    2021-12-07 16:43:08 +1300
    Iris McCready
    2021-12-06 18:31:58 +1300
    Richard Barrowman
    2021-12-06 18:09:35 +1300
    John Draper
    2021-12-06 16:24:11 +1300
    Trevor Christie
    2021-12-06 15:33:47 +1300

    "Good luck!"

    Angela Wakelin
    2021-12-06 10:31:43 +1300
    Kiwilite Limited
    2021-12-03 10:36:32 +1300

    Lot 30 Ashburn Street, Oamaru, Otago

    Invest in land with rising population growth from $100.

    What is Opoly and how does land investment work?

    Our goal is to provide investors with returns that are competitive when compared to yields in the term deposit market.

    "While many people think putting their money in a bank is the safest option, sophisticated investors, however, know that banks are really one of the worst places to keep your money." - from Q Wealth Expert Evgeny Orlov

    Land investment is the practice of buying a piece of land based on its potential for future sale, development or subdivision. If we choose the right areas, land is a resource with a supply that is always going down (after all, they aren’t making any more of it) and a demand that is constantly on the rise.

    Unlike most residential and commercial investments, land costs very little to maintain… no utility payments, no tenant problems, no termite infestations, no leaky faucets, no broken toilets, and if you buy it with Opoly, no mortgage repayments.

    Our mission is to empower everyday Kiwis to become land owners.


    The Opportunity

    Oamaru is the third largest town in Otago behind Dunedin and Queenstown. Oamaru is also New Zealand's “Best Wee Town”. With every new edition of the Lonely Planet guide to New Zealand in recent years there has been a number of pages devoted to Oamaru, and the surrounding area has grown progressively larger.

    Oamaru population density has been historically increasing, which shows us that the supply of land being made available, is not keeping up with rising population growth.


    Source: City-Facts.com

    Oamaru’s population is expected to rise over the next ten years at an increasing rate of approx 8.6%. That means that over the next three years, the population is estimated to increase by approx 2.58% or 326 new people. 


    Source: City-Facts.com

    The Property

    There are not too many sections around in Oamaru and in a good northend location just a short walk from schools and northend amenities. On offer is this fantastic opportunity to secure an elevated 1018m2 residentially zoned section.


    Source: Homes.co.nz

    Property Market Inights - 5 Year Capital Growth (Oamaru)


    Source: OneRoof

    Capital growth, is an increase in the value of an asset or investment over time. It does not consider adjustments for Consumer-Price Index (CPI). Capital growth is measured by the difference between the current value, or market value, of an asset or investment and its purchase price, or the value of the asset or investment at the time it was acquired.

    We note that market conditions may change during the term of the investment.

    *Historical performance is not indicative of future performance.

    Photos

    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 decentralised 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 Equifax checks on the company Lot 30 Ashburn Street Limited and their Directors, as well as Google and Insolvency checks. There were no adverse findings.

    UPDATE to all of our investors - 5 days left to raise $24,800

    14/12/2021 at 2:16 PM

    A huge thank you to our 149 investors so far. We are getting very close to reaching our target with just 5 days left!

    We would like to take this opportunity to explain our estimated resale price for this section located at Lot 30 Ashburn Street, Oamaru, Otago.

    Oamaru is a fast growing area with historical suburb growth growing on average 12.22%* annually for the past 5 years.

    (61.11 / 5 = 12.22% growth rate per year)


    This data has been sourced from OneRoof and can be found here:

    https://www.oneroof.co.nz/suburb/oamaru-waitaki-3938



    We have an estimated resale price of $133,500 for this section which reflects a growth rate of 7.50% compounded annually. 

    We have used a 7.50% annual growth rate estimation for the purposes of providing investors with a conservative growth projection relative to the historical average for recent sales of properties in the area.

    We would like to further clarify that this is an estimation only of the resale price and we will endeavour to achieve the best return for shareholders.
    Opoly intends to market the property after 3 years until the property has sold.

    Please help us share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

    If you decide to invest by clicking 'Make a Pledge' you won't be required to make payment unless the minimum target is reached.

    Sincerely,

    Opoly Team

    A message to our 142 investors so far... only $29,700 needed to reach our goal

    09/12/2021 at 7:42 PM

    Time is starting to tick over as our Offer Close Date of 19th December is now only 10 days away.

    We have reached over 72% funding ($77,800) towards the acquistion of Lot 30 Ashburn Street, Oamaru.

    This is a solid effort, however to meet the target and for this deal to go through succesfully, we still require an additional $29,700 invested to meet the minimum funding target of $107,500.

    If everyone was theoretically able to double their pledge, we will all be well on our way to owning a share in this prime piece of land, as we anticipate growth in the area over the next 3 years.

    If we do not crowdfund this section, it is highly likely it will be purchased by an individual who is able to capitalise on the growth of this area. 

    Please share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

    If you decide to invest you won't be required to make payment unless the minimum target is reached.

    Sincerely,

    Opoly Team

    Last 3 weeks! 21 days remain to raise remaining $38,800 for Lot 30 Ashburn Street.

    28/11/2021 at 1:35 PM

    To all of our investors and potential investors. . .

    Only 3 weeks to go for our last property crowdfund of 2021 🌄🥳

    To date we have had 125 investors who will all become shareholders in Lot 30 Ashburn Street in the event we are able to reach the minimum target of $107,500.

    If you decide to invest you won't be required to make payment unless the minimum target is reached.

    After 3 years we have an estimated resale price of $133,500 (+24.18%)* for this section.

    Each shareholder will receive 100% of the resale proceeds proportional to how many shares they own.

    At the time of this update we have raised $68,700. We now only need to raise an additional $38,800.

    If everyone DOUBLED their pledge we would crowdfund 100% today.

    For more information about the offer and how it works check out our Information Memorandum below:

    https://opoly.co.nz/Lot_30_Asburn_Street_Information_Memorandum

    Please share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

    Sincerely,

    Opoly Team

    30 DAYS REMAIN TO RAISE $57,500

    17/11/2021 at 12:23 PM

    To all of our investors and potential investors. . .

    Oamaru is a growing area with population growth, rising population density, and a shortage of available land.

    To date we have had 90 investors who will all become shareholders in Lot 30 Ashburn Street in the event we are able to reach the minimum target of $107,500.

    If you decide to invest you won't be required to make payment unless the minimum target is reached.

    After 3 years we have an estimated resale price of $133,500 (+24.18)* for this section.

    Each shareholder will receive 100% of the resale proceeds proportional to how many shares they own.

    At the time of this update we have raised $50,000. We now only need to raise an additional $57,500.

    If everyone DOUBLED their pledge we would crowdfund 100% today.

    For more information about the offer and how it works check out our Information Memorandum below:

    https://opoly.co.nz/Lot_30_Asburn_Srteet_Information_Memorandum

    Please share this new exciting crowdfunding model of investing into real estate with your friends and others, and let's make this deal a success!

    Sincerely,

    Opoly Team

      Offer Details

      Current Valuation 100
      Raise Minimum 107,500
      Raise Maximum 107,500
      Share Price 100.00
      Minimum Pledge 100.00
      Maximum Shares Offered 1,075
      Explanation of valuation:

      This is the amount to cover the lot purchase price, the Opoly acquisition fee, the PledgeMe success fee, and the Cash Reserve (as outlined in the IM on page 8). Three years after the purchase of the property, the Company intends to sell the property via a private sale by negotiation. The Company intends the property to have an estimated resale price of $133,500 (as outlined on page 6 of the IM).

      Financial Summary

      Prev Year Current Year Est. FY 2024 Est. FY 2025
      Revenue NZ $ NZ $ NZ $ NZ $
      Operating Expenses NZ $ NZ $ NZ $ NZ $
      EBITDA NZ $ NZ $ NZ $ NZ $
      Net Profit NZ $ NZ $ NZ $ NZ $

      Company Details

      Company Name: Lot 30 Ashburn Street Limited

      Company Number: 8192922

      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)


      You state the following….
      We have used a 7.50% annual growth rate estimation for the purposes of providing investors with a conservative growth projection relative to the historical average for recent sales of properties in the area.

      It seems to me that that 7.5% growth include growth on the fees paid to Opoly, and PledgeMe.

      Doesn’t this mean the 90k investment in land would require significantly above market average growth to achieve?

      Posted on 15-12-2021 by Adrian Edge

      Hi Adrian,

      Assuming you acquired the land for $90,000 without paying ANY fees or rates the section would require a theoretical growth rate of 14.05% compounded annually (90000*1.1405^3) to reach our estimated resale price of $133,500.

      According to OneRoof Historical Suburb Growth in the area has been 12.22%* annually for the past 5 years.

      It is up to investors to decide whether or not they see Lot 30 Ashburn Street as a suitable investment opportunity. No shareholder returns are guaranteed and potential returns are dependent on where the market is in 3 years.

      Thanks,

      Opoly Team

      Answered on 16-12-2021 by Opoly


      I have just read your latest update. Can you please clarify the annual growth required on the land to go from 90k purchase price to your estimated 133k sale price?

      Posted on 15-12-2021 by Adrian Edge

      Hi Adrian,

      Our estimated resale price of $133,500 is an estimation only and should not be taken as an indicative annual growth rate. As per Section 2.4 of the IM:

      The actual resale price will be at the discretion of Opoly Limited (Manager).

      Thanks,

      Opoly Team

      Answered on 16-12-2021 by Opoly


      Hi, Can you please clarify the position on unexpected expenses.... you state this in the investement memorandum. "* In the event rates are in excess of the Cash Reserve, Opoly Limited (Manager) will cover these costs at no additional expense to the Shareholder." However in the Management agreement, 3.7(a) you state "To the extent these costs are paid by the Manager, the Company will reimburse the Manager. " This is ambiguous and misleading, can you please clarify?

      Posted on 06-12-2021 by Adrian Edge

      Hi Adrian,

      Yes that is correct, Section 3.7(a) applies as per the Management Agreement.

      As per the Information Memorandum, in regards to any increase in rates that exceed the Cash Reserve, we have chosen to to cover any additional increase in rates that exceed the Cash Reserve, at no additional expense for the sole benefit of the Shareholder.

      It is our view we have not been misleading as we have been fully transparent with all of our offer documentation.

      Thanks,

      Opoly Team

      Answered on 06-12-2021 by Opoly


      Hi, can you please provide a breakdown of the specific costs covered by the reserve fund, ie what are the known costs? Ie, how much is the conveyancing, rates, maintenance, and how much is actually being kept in reserve?

      Posted on 27-11-2021 by Adrian Edge

      Hi Adrian,

      As per Page 8 in the I.M there is $5,000 allocated towards the Cash Reserve and covers conveyancing, filing annual returns and ongoing costs such as rates and any unexpected expenses relating to the property

      It is estimated rates will be $2,500-$2,750 in total over the next 3 years.

      In the event rates are in excess of the Cash Reserve, Opoly Limited (Manager) will cover these costs at no additional expense to the Shareholder.

      We estimate conveyancing to be $1,500. The fee for filing an annual return is $45.39 (plus GST). This includes levies of $17.39 for the Financial Markets Authority (FMA) and $6 for the External Reporting Board (XRB) and $1 for the Insolvency Practitioners Regime (IP).

      It is intended any remaining funds in the Cash Reserve are to be returned to Lot 30 Ashburn Street Shareholders following resale of the property.

      Thanks for your question.

      Opoly Team

      Answered on 28-11-2021 by Opoly


      Is there an ongoing maintenance cost? Ie mowing etc?

      Posted on 27-11-2021 by Adrian Edge

      Hi Arian,

      No there is not an ongoing maintenance cost.

      As per Page 8 in the I.M there is $5,000 being allocated towards the Cash Reserve and covers conveyancing, filing annual returns and ongoing costs such as rates and any unexpected expenses relating to the property

      It is intended any remaining funds in the Cash Reserve are to be returned to Lot 30 Ashburn Street Shareholders following resale of the property.

      Thanks,

      Opoly Team

      Answered on 28-11-2021 by Opoly


      Hi, can you please clarify the Maximum Investment section on page 16? There appears to be an inconsistency between 20% and 50k?

      Posted on 27-11-2021 by Adrian Edge

      Hi Adrian,

      Thanks for pointing this out. The amount of $50,000 is a typo from using our previous Information Memorandum Template from a previous property.

      As per the Company Constitution there can only be a maximum shareholding of 20% by 1 individual entity.

      For the purposes of this offer, this equals $21,500. Hope this helps.

      Thanks,

      Opoly Team

      Answered on 28-11-2021 by Opoly


      Following on from Adrian's questions - ELI5 - After you take out your fees, rates and stuff, what growth in steep, blank land with better land just up the hill need to achieve for me to get more back than what I paid in 5 years time? Most of your flyby video shows neighbouring plots and only the flattest part of lot 30 by the road.

      Subsequent question - how long has lot 30 already been available to anyone willing to buy (i.e. when was it first listed?)?

      Thanks.

      Posted on 22-11-2021 by Thomas McD

      Hi Thomas,

      Thanks for your query.

      Lot 30 Ashburn Street was listed on 29th October, 2021 and we have had the property under contract from 4th November, 2021.

      The fees are built in to the Crowdfunding Campaign amount of $107,500. There is no ongoing management fees and no cost to the Shareholder associated with the intended resale of this property upon 3 years from the Offer Close Date.

      Please refer to Page 8 of the Information Memorandum for a full break-down of this.

      Regards,

      Opoly Team

      Answered on 23-11-2021 by Opoly


      I am sorry, I can’t see anything on page six that explains how you came up with the estimated final valuation? There is some information on population growth, on historic market growth? But nothing on how this section in particular will go from 90k to 133.6k over three years.

      Posted on 19-11-2021 by Adrian Edge

      As mentioned previously, our estimated resale price and calculation has been noted on Page 6 of the Information Memorandum.

      Please see this in the attached highlights made below:

      https://i.imgur.com/7f18sGr.png

      The acquisition price for this section is $107,500 (inclusive of fees, rates, and conveyancing).

      Please refer to Page 8 of the Information Memorandum for a full break-down of this.

      We make absolutely no guarantee that this section will increase to be worth $133,500 in three years.

      As mentioned previously, the estimated resale price is based on our own estimations, but will be at the discretion of Opoly (as the Manager) who will seek to achieve the highest possible resale price for Shareholders after 3 years from the Offer Close Date.

      Regards,

      Opoly Team

      Answered on 19-11-2021 by Opoly


      Could you please provide some detail on how you came up with your estimate?

      Posted on 19-11-2021 by Adrian Edge

      Hi Adrian,

      This can be found in our Information Memorandum. Please refer to Page 6 of the Information Memorandum for how this has been calculated.

      Regards,

      Opoly Team

      Answered on 19-11-2021 by Opoly


      Assuming a purchase price of 90k, wouldn’t you require closer to 15% annual growth to achieve a sale price of $133k? And doesn’t that seem a wee bit optimistic?

      Posted on 17-11-2021 by Adrian Edge

      Hi Adrian,

      Please refer to Section (C) on Page 2 of the Shareholders Resolutions attached under the "Company Documents" tab on PledgeMe.

      The estimated resale price is based on our own estimations, but will be at the discretion of Opoly (as the Manager) who will seek to achieve the highest possible resale price for Shareholders after 3 years from the Offer Close Date.

      Regards,

      Opoly Team

      Answered on 19-11-2021 by Opoly

      Edward Langston
      2021-12-17 11:53:19 +1300
      Sam Vernon
      2021-12-16 19:09:54 +1300
      Tracey Mackay
      2021-12-16 12:51:32 +1300
      Curtis Stallworthy
      2021-12-16 10:47:52 +1300
      Gary
      2021-12-16 10:41:12 +1300
      Graham L Dawson
      2021-12-16 10:25:58 +1300
      Will Chopping
      2021-12-16 10:11:34 +1300
      Joe
      2021-12-15 12:10:41 +1300
      Malcolm Tangitutu
      2021-12-15 10:27:03 +1300
      Louise Tangitutu
      2021-12-15 06:42:27 +1300
      Brian Lacey
      2021-12-14 19:01:31 +1300

      "This is a 2nd pledge of $100 for this campaign on behalf of Fridays Group Limited. Good luck with the goal & we look forward to many more!"

      Peni Moi Baleira Macu
      2021-12-14 13:41:21 +1300
      Tracy Bull
      2021-12-13 23:17:48 +1300
      Nadine Martin
      2021-12-13 12:27:29 +1300
      Kiwilite Limited
      2021-12-10 16:56:47 +1300
      Wee Ming Soh
      2021-12-10 16:12:40 +1300
      TRACEY FISHER
      2021-12-10 06:28:17 +1300
      Jenni Topliss
      2021-12-09 20:03:35 +1300
      Andrew Day
      2021-12-09 06:22:35 +1300
      Adam Crisp
      2021-12-08 22:59:11 +1300
      Peni Moi Baleira Macu
      2021-12-08 16:46:56 +1300
      Patricia Pera
      2021-12-08 16:25:49 +1300
      Elizabeth Hale
      2021-12-07 21:34:41 +1300
      Harry Saley
      2021-12-07 16:43:08 +1300
      Iris McCready
      2021-12-06 18:31:58 +1300
      Richard Barrowman
      2021-12-06 18:09:35 +1300
      John Draper
      2021-12-06 16:24:11 +1300
      Trevor Christie
      2021-12-06 15:33:47 +1300

      "Good luck!"

      Angela Wakelin
      2021-12-06 10:31:43 +1300
      Kiwilite Limited
      2021-12-03 10:36:32 +1300
      This campaign was unsuccessful and finished on 19/12/2021 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 Lot 30 Ashburn Street, Oamaru, Otago, you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      Lot 30 Ashburn Street Ltd Investor

      NZ $100.00+

      Minimum investment of $100. Each share is $100

      Warning statement about equity crowdfunding

      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.