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More than 2000 new investors, including many Bay of Plenty residents, have jumped at the chance to own a share of Bethlehem Town Centre.
Unlisted commercial property funds manager PMG Property Funds Management Limited has now closed its latest offer in its PMG Generation Fund.
Funds raised will help buy the high-profile Bethlehem Town Centre for $107.6 million alongside an industrial property at 11-13 Gough St in Seaview, Wellington. Conservative bank borrowings will fund the remaining purchase price.
PMG chief executive officer Scott McKenzie said Bethlehem Town Centre was a vital community hub.
"We are looking forward to enhancing the value of Bethlehem Town Centre and further building its reputation as the shopping destination of choice in this region."
McKenzie said ongoing low-interest rates, coupled with headwinds in residential property investment, were generating a high level of interest in commercial property from a wide range of individuals.
PMG partnered with online investment platform Sharesies and InvestNow to bring the offer to the market, which has resulted in more than 1850 investors joining.
"We have great respect for the innovative work Sharesies have done to simplify the investment landscape and build financial literacy.
"Investment in unlisted commercial real estate is sometimes seen as out of reach for many New Zealanders.
"Through Sharesies and InvestNow we are able to help people overcome some of those barriers to invest in commercial property and make it easier for everyday Kiwis to participate."
The new acquisitions bring the total portfolio value of PMG's Generation Fund to an estimated $166m. The fund comprises five quality commercial properties in metropolitan centres across New Zealand and is underpinned by notable tenants, some of which are classed as essential services and provide further confidence around the fund's income resilience for investors.
PMG chairman Denis McMahon was impressed by the strong response to the offer, which had an accessible minimum investment threshold of 1000 units ($1090).
"When we launched PMG Generation Fund in 2020, the aim was to help more New Zealanders gain access to the benefits of investing in commercial property, providing regular income and the opportunity for good capital growth on their investment. This latest offer has certainly achieved this."
New Zealand Tourism Awards 2021 finalists revealed
Rotorua businesses have been named finalists in the New Zealand Tourism Awards 2021.
Six leading individuals and 23 businesses are in the running for 11 of New Zealand's most prestigious tourism awards, which showcase and celebrate the tourism industry's individual and business successes.
Finalists include MDA Experiences for the Community Engagement and
He Kai Kei Aku Ringa Māori Tourism awards, the National Kiwi Hatchery for the Department of Conservation Conservation Award, Waimangu Volcanic Valley for the Westpac Resilience and Innovation and Toitu EnviroCare Environment awards and Redwoods Treewalk & Nightlights for the NZME Visitor Experience Award.
After a hiatus last year because of the pandemic, the New Zealand Tourism Awards 2021 attracted a record number of almost 150 entries.
"We know tourism businesses and individuals are keen to showcase how they've adapted and innovated over the past year, with the awards bringing a sense of prestige and celebration back to the industry," Tourism Industry Aotearoa chief executive Chris Roberts said.
The winners will be announced at an awards dinner on September 1 in Kirikiriroa, Hamilton, following Tourism Summit Aotearoa. Both events are organised by Tourism Industry Aotearoa.
"After this hardest-ever year for tourism, I'd like to congratulate everyone who took the time to enter the awards, even if they didn't make it to finalist status," Roberts said.
"The awards are a valuable opportunity to benchmark your business against your peers and demonstrate that you are striving to be the best."
The three awards for individuals are open to outstanding performers in the industry, and eight awards will recognise business excellence, industry alignment and organisations that are living the values of the Tourism Sustainability Commitment.
Kawerau disability advocate wins Impact Award
Heidi Parks, 18, has won an Impact Award for her work advocating for disabled people in her hometown of Kawerau.
Powered by Kiwi charity Inspiring Stories, The Impact Awards were part of Festival for the Future – one of New Zealand's largest leadership and social innovation summits.
"I've never been awarded something like this before, and to actually have my name carved on something; it's pretty special," Parks said.
Parks works with the Kawerau Access Group to help make the community more accessible for people in wheelchairs. She helps able-bodied people realise what disabled people go through day-to-day by setting up wheelchair obstacle courses in her community.
"I want people to be aware that we're people too and we want to be involved in activities," she said.
Inspiring Stories chief executive Guy Ryan said each Local Impact Award winner was recognised for having a profound impact in their respective communities.
"Heidi is an outstanding example of someone who is stepping up time and again to provide support to the causes and people she cares about.
"Our hope is that by celebrating her leadership through the Impact Awards, that it gives her the courage and strength to keep investing in her community."
Parks was chosen as an Impact Award winner out of 400-plus applications and nominations across Aotearoa. Each winner received a share of $30,000.
'Life-changing' opportunity reaps award for Te Puke teen
"It was a life-changer."
Those were the words of Te Puke teenager Taorei Puru after winning the Overall Excellence Award at Blue Light's Life Skills programme.
The programme was held at the Whenuapai Airforce base from July 26 to 30.
Puru, 15, who attends Te Puke High School, beat an exceptional group of young people from across Aotearoa to win the competitive Overall Excellence Award.
"I was given an opportunity because teachers saw something in me that I didn't and I took it," he said.
Blue Light life skills coordinator Abbe-Mae Henry said Puru was given the award through "demonstrating the whakataukī of maturity, respect, intuition and through building individual and group mana".
Te Puke High School principal Alan Liddle said Puru was a student with "huge potential".
"We are very proud of his achievement."
Blue Light's Life Skills programme has been run in partnership with NZ Defence Force for
the past 12 years and adventure-based experiential learning was a key part of the programme.
The programme provides 14- to 17-year olds critical life skills such as self-development, self-control and teamwork to enable young people to be successful at home, school, communities, and employment.
Up to 12 courses are held each year in Auckland, Central North Island and Burnham.
Total $50,000 available from Rotorua Community Fund
This year, $50,000 is available from the Rotorua Community Fund proudly managed by the Geyser Community Foundation.
Thanks to the generosity of a growing number of local people, funds are available for charitable purposes to a wide range of local charities and community organisations in the Rotorua District.
Geyser's Chairman, Kierin Irvine said, the total amount available is twice that of last year ($21,500 was available in 2020).
"The Rotorua Fund is made up of donations and gifts from individuals, families and businesses in the local community who want to contribute towards a permanent legacy for the benefit of their community."
Applications totalling $90,984 were received from 21 local organisations last year and 17 organisations shared gifts totalling $21,500.
Funding applications opened on August 1 and close on September 30, 2021.
Stihl Shop Mount Maunganui named as No.17 back of jersey sponsor
The name of the latest No.17 Back of Jersey sponsor for the Bay of Plenty Steamers and Volcanix this season will be Stihl Shop.
The Bay of Plenty Rugby Union (BOPRU) has announced Stihl Shop Mount Maunganui as the latest and final sponsor to be added to the list for the 2021 NPC season.
"We love rugby, and we wanted to get involved and support our local community," said managing directors Craig Burham and Fiona White.
Burnham and White have owned the store for two years and share between the team more than 35 years of experience.
Both directors recognise the positive parallels shared between Stihl Shop Mount Maunganui and the BOPRU.
"We pride ourselves on supporting community and that family feel, the team effort.
"We are associating with another great brand in the BOPRU. It's our mutual vision of working together as a team to help give back to our local communities through rugby.
"We are excited for the partnership and for the season ahead."
BOP community grants will increase after record $42m surplus
On the back of a record surplus, BayTrust's net equity has reached an all-time high, allowing it to increase the amount of money it distributes to Bay of Plenty community groups to tackle social and environmental issues.
BayTrust's asset base is now $246m – an increase of $42m from the previous financial year. The latest annual report reveals the trust's investments performed exceptionally well despite Covid-19 volatility, returning 24.3 per cent for the year ended March 31, which was 4.1 percentage points above its benchmark.
BayTrust chair Rita Nabney said the organisation took the opportunity during the Covid-19 market downtown to move from a 60/40 growth allocation to a 75/25 growth asset allocation.
This "courageous decision" helped to drive strong returns for the year along with the Trust's investments in the sustainable space, she said.
"This record surplus of $42m has given our board confidence to lift its expected granting to over $25m for the next three years," Nabney said.
"These grants will be focused on delivering BayTrust's kaupapa to 'accelerate bold and meaningful change, assisting BOP communities and our environment to flourish'."
In another major investment decision, BayTrust has committed to having a fully sustainable and carbon-neutral investment portfolio by 2030 or earlier.
BayTrust CEO Alastair Rhodes said going forward, BayTrust's funding priorities will remain kaitiakitanga (guardianship of the land); healthy, secure and affordable housing; sustainable employment and inclusive growth; community wellbeing and Tū Māori Mai (cultural embeddedness).
"We have committed $3.4m to Tauranga Community Housing Trust, a BOP community housing provider, and $2m to a shared equity fund – YouOwn.
"We are allocating a further $10m of our investments into this space where we will look to work with Maori/iwi, community housing providers, central and local government and other key stakeholders."
BayTrust's region extends from Katikati to Tūrangi to Te Kaha and includes the Eastern and Western Bay of Plenty and Rotorua and Taupō districts.
The community is invited to hear more about BayTrust's performance and plans for the years at its annual public meeting at 3pm on August 27 at the Tauranga Yacht and Power Boat club.
RSVP to info@baytrust.org.nz by August 18.
Poolwerx makes waves with a triple win at industry awards
Global pool and spa maintenance network, Poolwerx, has been recognised with three awards at the prestigious Swimming Pool and Spa Association (SPASA) New Zealand Annual Awards of Excellence.
Poolwerx Bay of Plenty was recognised as Best Mobile Service Business. Brendon and Kelly
Woodhouse started their careers in the pool industry in 2019, providing a mobile pool service to Tauranga and building a strong reputation of customer service and
unmatched support within their local community.
Over the past year, the Woodhouse's have achieved significant business growth, including more than doubling their regular client base to warrant investing in a second mobile vehicle and recruiting another technician.
The Woodhouse's goal was to become a family-owned and operated business, creating
employment opportunities for their next generation, and they achieved this in 2020.
As a family-run business, they are passionate about supporting the wider community, including sponsoring the Te Puna Rugby Club.
The jury's marathon deliberations ran for two weeks.