Lot 30 Ashburn Street, Oamaru, Otago

By Opoly

PledgeMe.Investment

Property,



NZ $73,700 pledged


129 people pledged


19 days left


NZ $107,500 minimum target


Min

NZ$107,500

Max

NZ$107,500

68 68% Complete

Pledges will only be confirmed if the target is reached by: 19/12/2021 at 4:00 PM (NZDT)

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 2

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 2023 Est. FY 2024
    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

    5._Shareholder_Resolutions_-_Lot_30_Ashburn_Street_Limited.pdf

    (application/pdf, 89.5 KB, uploaded 19 November 2021)

    1._Information_Memorandum_-_Lot_30_Ashburn_Street_Ltd.pdf

    (application/pdf, 1.93 MB, uploaded 09 November 2021)

    2._Subscription_Agreement_-_Lot_30_Ashburn_Street_Limited.pdf

    (application/pdf, 1.95 MB, uploaded 09 November 2021)

    3._Management_Agreement_-_Lot_30_Ashburn_Street_Limited.pdf

    (application/pdf, 230 KB, uploaded 09 November 2021)

    4._Company_Constitution_-_Lot_30_Ashburn_Street_Limited.pdf

    (application/pdf, 275 KB, uploaded 09 November 2021)

    6._Certificate_of_Incorporation_-_Lot_30_Ashburn_Street_Limited.pdf

    (application/pdf, 589 KB, uploaded 09 November 2021)

    7._Company_Extract_-_Lot_30_Ashburn_Street_Limited.pdf

    (application/pdf, 392 KB, uploaded 09 November 2021)

    Director Details

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

    Questions 7

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


    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


    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


    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


    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


    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


    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 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

    Pledgers 129

    Tara Ryan
    2021-11-10 18:35:16 +1300
    S Baker
    2021-11-10 17:26:48 +1300
    Jana Harrison
    2021-11-10 17:08:18 +1300
    Cecelia
    2021-11-10 16:40:35 +1300
    Craig Ahipene
    2021-11-10 15:35:42 +1300
    Aillenne Punay
    2021-11-10 15:27:45 +1300
    Brent Atkins
    2021-11-10 14:43:38 +1300
    Alex Boff
    2021-11-10 14:33:28 +1300
    Leigoa Ah Chong
    2021-11-10 14:25:21 +1300

    "Great Investment "

    T Williams
    2021-11-10 14:25:03 +1300
    Ian Grayson
    2021-11-10 14:03:20 +1300

    "Harley and Alexandra"

    Marisa Trevena
    2021-11-10 13:34:28 +1300
    TRACEY FISHER
    2021-11-10 13:24:52 +1300
    Margaret McAlpine
    2021-11-10 13:15:54 +1300
    Sarah Nelson
    2021-11-10 12:59:20 +1300
    Tracey Mackay
    2021-11-10 12:54:01 +1300
    Daniel Martin
    2021-11-10 12:53:32 +1300
    Roy Jesen
    2021-11-10 12:52:31 +1300
    Vicki Skill
    2021-11-10 12:46:06 +1300

    "Good luck!"

    Amanda
    2021-11-10 12:39:55 +1300
    Ritz
    2021-11-10 12:22:16 +1300
    Matthew Milburn
    2021-11-10 12:12:26 +1300
    Renee Sturch
    2021-11-10 12:11:20 +1300
    Venice Erika Aumentado
    2021-11-10 12:07:08 +1300
    Sheryl Thomas
    2021-11-10 12:06:14 +1300
    Adrienne Gulliver
    2021-11-10 12:04:52 +1300
    Don Spence
    2021-11-10 12:03:08 +1300
    Tess Langworthy
    2021-11-10 12:01:56 +1300
    Francis Caluya
    2021-11-10 12:01:14 +1300
    Ginnie Denny
    2021-11-10 12:00:09 +1300

    Followers 5

    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.

    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 2023 Est. FY 2024
      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

      5._Shareholder_Resolutions_-_Lot_30_Ashburn_Street_Limited.pdf

      (application/pdf, 89.5 KB, uploaded 19 November 2021)

      1._Information_Memorandum_-_Lot_30_Ashburn_Street_Ltd.pdf

      (application/pdf, 1.93 MB, uploaded 09 November 2021)

      2._Subscription_Agreement_-_Lot_30_Ashburn_Street_Limited.pdf

      (application/pdf, 1.95 MB, uploaded 09 November 2021)

      3._Management_Agreement_-_Lot_30_Ashburn_Street_Limited.pdf

      (application/pdf, 230 KB, uploaded 09 November 2021)

      4._Company_Constitution_-_Lot_30_Ashburn_Street_Limited.pdf

      (application/pdf, 275 KB, uploaded 09 November 2021)

      6._Certificate_of_Incorporation_-_Lot_30_Ashburn_Street_Limited.pdf

      (application/pdf, 589 KB, uploaded 09 November 2021)

      7._Company_Extract_-_Lot_30_Ashburn_Street_Limited.pdf

      (application/pdf, 392 KB, uploaded 09 November 2021)

      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)


      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


      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


      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


      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


      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


      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 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

      Tara Ryan
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      "Harley and Alexandra"

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      Equity Offer

      From NZ $107,500 for 99.9%

      Up to NZ $107,500 for 99.9%

      Share Offer

      Up to 1,075 Shares

      at NZ $100.00 per Share

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      Lot 30 Ashburn Street Ltd Investor

      NZ $100.00+

      Minimum investment of $100. Each share is $100

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