Name

Asset Plus Limited Units

Legal name

Asset Plus Limited

Website

https://assetplusnz.co.nz

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Lessors of Real Estate (5311)

SIC

Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Commercial property investment
• Listed investment vehicle
• Office property leasing
• NZX-listed REIT
• Property fund management

Headquarters

HQ city

Parnell

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Property Rental Income: Asset Plus generates revenue through commercial property rental income from its single property asset at 6-8 Munroe Lane, Albany, Auckland. Major tenant Auckland Council occupies approximately two-thirds of the building on a 15-year lease term.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Asset Plus Limited is a publicly listed NZX investment company that owns and operates a single commercial office property at 6-8 Munroe Lane, Albany, Auckland. The 15,900sqm campus-style development is valued at $105.5 million and leased to corporate tenants including Auckland Council (anchor tenant on a 15-year lease), IAG, Mitre 10, BNZ, and ASB. The company is externally managed by Centuria Funds Management (NZ) Limited, with Centuria Capital Group also being the largest shareholder at 19.99%.

Product overview

Asset Plus is a single-property investment vehicle that owns the commercial office development at 6-8 Munroe Lane, Albany, Auckland. The company operates as a listed investment on the NZX, with Centuria externally managing the property and providing shared services. The portfolio consists exclusively of this one commercial property, which is being offered for lease with plans to potentially market the property for sale and wind up the entity once sufficiently leased, subject to shareholder approval.

Differentiator

Problem solved

Functional benefit

Products and services

• 6-8 Munroe Lane Property A campus-style commercial office development located at 6-8 Munroe Lane, Albany, Auckland, comprising 15,900sqm of net lettable area and valued at $105.5 million as of 31 March 2026. The asset targets commercial office tenants, including Auckland Council (anchor tenant on a 15-year lease), IAG, BNZ, ASB, and Mitre 10. The property has 5-star Green Star design rating and 5-star NABERS energy rating targets.

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Argosy Property Limited: NZX-listed New Zealand commercial property investor with a portfolio of office, industrial, and retail assets. Most directly comparable as a domestic NZ listed-property vehicle with a yield-driven mandate and similar institutional tenant base.
• Precinct Properties New Zealand Limited: NZX-listed Auckland-focused prime office landlord. Comparable as a single-geography premium office investor with similar tenant profile and similar sensitivity to Auckland office leasing fundamentals.
• Kiwi Property Group Limited: NZX-listed large-format NZ property investor with significant office and retail exposure. Comparable as a listed NZ property vehicle with similar income distribution mandate and exposure to Auckland office cycle.
• Investore Property Limited: NZX-listed NZ commercial property investor with big-box retail and office exposure. Comparable as another NZ-listed single-strategy property vehicle pursuing yield plus growth and potential portfolio repositioning.
• Stride Property Group: NZX-listed NZ diversified property investor (office, retail, industrial) managed byStride Investment Management. Comparable as a listed NZ property company with a managed structure and similar investor yield focus.

Broad incumbents

• Centuria Capital Group: ASX-listed parent and external manager of Asset Plus with A$21.8B AUM. Comparable as the controlling fund manager with aligned economic interest and the execution capability behind Asset Plus's asset strategy.

Regional players

• Goodman Property Trust: NZX-listed NZ industrial/logistics property trust. Comparable as a NZ listed property vehicle with similar institutional management and dividend focus, though primarily industrial rather than office.
• Vital Healthcare Property Trust: NZX-listed healthcare property vehicle. Comparable as a NZ-listed single-sector property trust with external management and stable long-WALT tenant covenants, though asset class is healthcare.
• Property for Industry Limited: NZX-listed NZ industrial-focused property investor. Comparable as a NZ listed property vehicle with similar external management and yield-oriented investor base, though asset class is industrial rather than office.

Others

• Bayleys Real Estate Limited: NZ commercial real estate agency and property services firm. Relevant as the listing agent for the Munroe Lane property given the registered office address at Bayleys House, and a potential counterpart in the eventual sale process.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asset Plus Limited Units