Page 3 Advertisements Column 3

Press, 14 July 1982, Page 3

Advertisement MFL MUTUAL FUND BUYS FURTHER INVESTMENT PROPERTIES Portfolio of 87 properties now held MFL Mutual Fund. New Zealand’s largest mutual fund, has added a further five properties to its property portfolio. With three properties being sold. 87 prime commercial and industrial investment properties are now owned by the Fund. No. 83: At Commerce Street. Hamilton, a 20.139 sq ft showroom / office / warehouse building has been purchased and leased back to Odlins. Ltd. on a 15 year term. The purchase price of the property was $545,000. No. 84: At 13-17 Pollen Street, Grey Lynn. Auckland, a 7227 sq ft office/showroom/warehouse building has been purchased and leased to Tait Electronics, Ltd, for a 12 year term. The property was purchased'from the developers. Project Construction, Ltd, at a cost of $408,000. No. 85: On the corner, of Wairau and Porana Roads, Takapuna, an office/showroom/warehouse complex of 17,500 sq ft has been purchased for $545,000 and leased back to Odlins, Ltd, for a 15 year term. No. 86: At 220 Station Road, Penrose. Auckland, a, 17,750 sq ft building comprising offices/amenities / showroom / warehouse is being built for the Fund by Mace Construction. Ltd. The premises costing $673,000 will be leased to Para Rubber Co., Ltd. a subsidiary of Skellerup Industries. Ltd. for a term of 15 years. Mr Pat Oakley of Scholes Oakley, Ltd. introduced the parties. No. 87: At Wiri Station Road, Auckland, a 15.600 sq ft building comprising office/ amenities factory/warehouse is to be built for Incolabs Pty. Ltd. on a 15 year lease. The building contract has been awarded to Project Construction. Ltd. The total cost of the premises will be $600,000. Mr Derek Presland of Bayleys Real Estate Papatoetoe was the agent involved in the transaction. M.F.L.’s property portfolio is consistently appreciating, providing tax-free returns to MFL’s 40,000 members, making MFL the largest private mutual superannuation fund open to the public bf New Zealand. Contributions are available as a tax exemption and lump sum withdrawals tax-free, providing members with a return of up to 35 per cent p.a. Ring your local MFL office for further particulars.