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Sector

Commercial property

Total asset value

$16.4 m

Land area

5.1877 ha

Income

The long-term lease is expected to provide attractive steady cash

Take a drive through our horticultural heartland and chances are you’ll come across crews of overseas workers employed under the Recognised Seasonal Employer (RSE) programme.

Duncannon is a Blenheim based commercial property, purpose-built as accommodation for seasonal vineyard workers and consented for temporary backpacker accommodation. It is also the headquarters of the current owner and developer of the property – Hortus Limited.

These hard-working men and women from around the Pacific have become a vital part of New Zealand’s horticultural economy as a result of export growth and a shortage of local labour. Strong growth in the Marlborough wine sector is bolstering long-term demand for seasonal labour and accommodation. Despite COVID-19 travel restrictions, there are still 8000 RSE workers and 20,000 backpackers in New Zealand looking for work.

Hortus is a vineyard management company and one of the leading providers of contract labour in Marlborough. Its reputation for looking after the pastoral needs of workers means the company consistently attracts the cream of the RSE labour crop.

Hortus lease back the property for an initial term of 15 years.

Duncannon Horticulture LP has completed a second capital raise with current unit holders to maximise the Duncannon site through the addition of 100 extra beds and provide Hortus the opportunity to expand its operations.

Operational partner

Hortus Limited.

This offer is open to persons who fall within the exclusions applicable to offers made to "wholesale investors" as set out in Schedule 1, clauses 3(2)(a)-(c) and 3(3)(a)-(b)(ii) inclusive of the Financial Markets Conduct Act 2013 (FMCA). You can obtain further information on FMCA requirements, and whether you come within the exclusions and their requirements at www.myfarm.co.nz/can-i-invest

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