Farmers Trading Company
Farmers Trading Company ("Farmers") is a new tenant with the Trust Investments Property Fund. Farmers has taken the retail premises on Broadway which was previously occupied by PaperPlus.
The 3 year lease for the 446 sqm retail premises commenced on 18 October with a rental of over $300,000 per annum. Felicity Berry, Asset Manager for Trust Management negotiated the transaction on behalf of the Property Fund. There was no incentives provided with the letting with the exception of a short premises fitting out period.
Farmers is a very experienced retailer having been in business for 100+ years. It is one of the largest retailers in New Zealand with 60 department stores throughout New Zealand. They are particularly strong in fashion and cosmetics. Farmers has indicated that this site will be focused on the retailing of cosmetics and lingerie.
Under the Financial Markets Conduct Act this communication may be deemed to be an advertisement for an offer of units. Trust Investments Management Limited is the issuer of the units to be issued under the offer to which this advertisement relates. A product disclosure statement for the offer, which sets out the terms and conditions of the offer, is available, and can be obtained at www.trustmanagement.co.nz/investment-products.