12 Aug 2014

Augusta looks to buy more properties

7:43 am on 12 August 2014

Augusta Capital managing director, Mark Francis, says the commercial property company's future growth will come from funds management and property syndication.

Auckland's CBD - colour it promising for Augusta Capital.

Auckland's CBD - colour it promising for Augusta Capital. Photo: PHOTO NZ

Mr Francis told the annual shareholders' meeting yesterday that the company is actively looking for opportunities to buy more properties to syndicate.

Augusta Capital has two distinct divisions.

Its direct property investment division holds and manages a core portfolio of office and carparking properties in central Auckland, valued about $95 million.

The other division manages $1.17 billion worth of property which includes more than 170 syndicated commercial properties in Australia and New Zealand.

Mr Francis said the company's most recent project, involving Telecom Place, had been hugely successful.