Description:
* "The Company has been established to be a long-term property investment company. Initially it will grow its property holdings organically by way of development of strategic parcels of subleasehold land to be acquired by its subsidiaries in the fast growing Albany City precinct in Auckland. Over time this portfolio may be complemented by additional investment property acquisitions.

Once fully developed, the initial portfolio of the Group may include residential premises, commercial offices, a variety of bulk retail stores, specialty retail stores, a hotel, a retirement village and entertainment facilities.

The Company and its subsidiaries are managed by Albany City Management Limited, which is responsible for providing corporate, property and project management services to the Group. The shareholders of Albany City Management Limited are ultimately Symphony Projects Limited, Auguste Holdings Limited and Valad Funds Management NZ (PTY) Limited.

ASX-listed Valad Property Group (“Valad”) has been secured by Albany City Property Investments Limited as an investor. Valad has acquired a 50% interest in Albany Partners Limited, which is the sole shareholder of ACPIL. Valad’s investment provides additional equity, as well as extensive property and funds management experience (for more information on Valad see ‘News & Links’)."

Website: http://www.acproperty.co.nz

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Company balance date: (unknown)

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