Springs Road Property Limited was incorporated in 1997, and has 128 Shareholders. The company owns a single property at 7 Springs Road, East Tamaki, Auckland. The building is a modern 4 level building with distinct architectural influence.

The building is partially tenanted. Goodman Fielder Milling & Baking, New Zealand Limited lease part of the building with Counties Manukau District Health Board leasing 2 floors.

Investment parcels are made up of one Mortgage Bond, with an issue value of $4,000 and one thousand shares (issue value $1.00 per share). Mortgage Bonds are issued under a Mortgage Trust Deed between the Issuer and Trustee Executors Limited. Interest is paid quarterly against the Mortgage Bond at the lower of 12.5% or the current 90 day bank bill rate plus 4%. The 90 day bank bill rate on 01 April 2010 was 2.78%. Therefore, the interest rate payable on Mortgage Bonds will be 6.78% per annum for the period 01 April 2010 to 31 March 2011. In order to preserve the overall return on each parcel of Mortgage Bonds and Shares at 10% (on an issue price of $5,000 per parcel), an annual dividend per share has been paid in the past . The discretionary dividend is subject to the Company’s revenue performance and capital expenditure that may be required.

Annual reports 2002 | 2003 | 2004 | 2005 |2006 | 2007 | 2008 | 2009
Secondary Market Listings : Click here to access more detail on the availability of parcels in Springs Road Property Limited.