Collett's Corner

By Camia

PledgeMe.Investment

Property,



NZ $928,320 pledged


283 people pledged


2 days left


NZ $800,040 minimum target


Min

NZ$800,040

Max

NZ$1,400,040

100 100% Complete

Pledges will only be confirmed if the target is reached by: 29/10/2020 at 7:00 PM (NZDT)

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About

Collett's Corner

People
powered
property
development

Over 340 everyday people came together last year to make Collett’s Corner New Zealand’s first community minded, equity crowdfunded commercial property development.

Now with resource consent granted and a clear path to building the building, we're going back out to you, our crowd, to progress Collett’s Corner through construction. This is your opportunity to join us.


   

 

 

Our building

Collett’s Corner is a multi-use commercial building, to be constructed on Lyttelton’s main street. Designed in collaboration with the community, the building is a lively mix of spaces including a centre for wellbeing, hospitality, retail, co-working space, laneways and co-living apartments.



The upper two floors of apartments are being sold to finance the construction of the building.

The ground floor and basement will be owned by the company. At the heart of these two floors will be the Ūkaipō Wellbeing Sanctuary. Ūkaipō will offer a carefully curated range of traditional and contemporary healing modalities. Ūkaipō means Mother, origin, source of sustenance; to return to one’s real home. The vision for this atea (space) is to return people to their truest sense of self. Its offerings and accompanying surrounds will give the community a place where the best in mental, physical, spiritual, emotional and family wellbeing can be found.

 

Our four key purposes

 

Our team

 

 

The share offer

We are raising between $800,040 and $1,400,040 through equity crowdfunding to complete the final designs, grow the team, engage contractors, secure bank funding and progress Collett’s Corner through construction. Read our Investment Memorandum for full details of the share offer.


   

 

Capitalisation table

Note: the percentage ownership on offer indicated on this PledgeMe page (39.6%) differs from our actual offer (38%), as the percentage in our offer includes the effect of a part of Camia's loan being converted to shares.

Capital strategy

 

Why invest?

Collett’s Corner combines financial return, tangible ownership in a prominent and sought-after Lyttelton property and social impact. What resonated with our current shareholders?

 

Forecasted financial return

The building will generate income for investors through renting the ground floor and basement.

 

Our past and future path

 


   

 

 

Risks and challenges


 

Questions & Answers

We have collected questions we have received about the offer and are sharing them along with answers here.

 

A Note from PledgeMe

We have completed a Veda check on the company and its Directors, as well as Google checks. There were no adverse findings. There is an interest registered around this campaign, as a previous PledgeMe employee supported the preparation of this campaign, and the directors of Collett's Corner are shareholders of PledgeMe, and some of the PledgeMe team are shareholders of Collett's Corner through their last round. 

 

Updates 5

We’ve hit $500,000!

19/10/2020 at 4:05 PM

 

Sharing ownership. Sharing the journey. Sharing the returns

 

Kia ora,

It’s been a big weekend of celebration and history making. To add to the excitement, we hit the half a million mark yesterday! Thank you to the 177 people who have invested a total of $505,920 in Collett’s Corner Ltd. 

With 10 days to go and $300,000 more to be raised, now is the time to invest. It is all or nothing folks, we don't see a single dollar if we don't raise the $800,040.  

                                                           

Will you share the project with three people today so that we can reach as many people as possible before the campaign closes. Here's the campaign: pldg.me/collettscorner2020

 

Lets make this happen together!

 

Ngā mihi,

 

Camia Young
Founding Director
021 1125 087
www.collettscorner.nz

 

 

 

Three weeks to go | What makes Collett’s Corner unique?

07/10/2020 at 9:56 AM

 

Sharing ownership. Sharing the journey. Sharing the returns
 
Kia ora,
Only three weeks left for our equity crowdfunding campaign, closing on October 29th at 7pm. This is the second and last equity crowdfunding campaign, so if you are considering investing, don’t miss out, invest today. 
 
We have already raised $419,000 from 113 of you so far, and the campaign has been open for just 2 weeks. You can invest for as little as $120 and up to 10% of the company ($212,000). Most people are investing between $1,000 and $3,000. We are raising between $800,000 and $1.4m. The idea is that every day people can pool their resources and together we can create the buildings we want in our towns and cities.
 
                                                       
 
What makes Collett’s Corner unique?

There are four things that make Collett’s Corner different from other commercial development:
 
First, we worked with the local community to determine what is appropriate to build on the site, in the case of Collett’s Corner it is a combination of co-living inspired apartments and a wellness sanctuary.
 
Second, we are making it accessible for everyday people to own shares and benefit from the financial returns. In a typical commercial development the entry level investment would be a minimum of $50,000 and up. Collett’s Corner is inclusive in that to invest you can purchase as little as one share, this makes it possible for everyday Kiwis to invest.
 
Third, we believe it is possible to build a community by building a building. At the heart of Collett’s Corner is Ūkaipō, which is intentionally designed to build a community committed to wellbeing. When you invest in Collett’s Corner you not only benefit from financial returns (which are comparable to other commercial developments), but you also benefit from being part of building a community. There is no other commercial development that we know of that approaches property development in this way.
 
Fourth, this is a local project with national significance. Collet’s Corner is pioneering a new approach to property development, as the first equity crowdfunded commercial development, we are demonstrating that it is possible for every day people to pool their resources and invest in the places we want in our towns and cities. This is an approach other towns across Aotearoa can model.
 
When we weave those four threads together we build a building that builds community. A community that thrives together socially and financially.
 
This week’s stops on our crowdfunding roadshow
We’re back on the South Island this week. Come catch up with us at:
•Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)

•Dunedin Housing Panel | Thursday 8th, 5pm | Athenaeum, 23 The Octagon (RSVP here)

•Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)

•Golden Bay | Wednesday 14th, 12:30pm | Mohua Social Services, 88 Commercial Street (RSVP here)

 
For those of you who can’t make our in-person events, we recorded our online event last night. You can watch our presentation and Q&A here:


 
                                                           
 
 
And our final week on the road takes us to Wellington, we’ll be co-hosting this event:
•Wellington Housing Panel | Monday 19th, 6pm | Enspiral Dev Academy, 275 Cuba St* (RSVP here) 

 
*Please note the change of venue.
 
Mindfood article 
For those of you interested in purchasing apartments, we had an article about the co-living apartments feature in Mindfood Magazine this week.
 
                                         
 
 
Will you join us in changing how we do property? Forwarding this email, letting your friends & whānau know that you’re a supporter, joining us on social media are all invaluable steps — help us to spread the word!
 
Ngā mihi,
 
Camia Young
Founding Director
021 1125 087

We hit our halfway mark!

03/10/2020 at 8:07 PM

 

Sharing ownership. Sharing the journey. Sharing the returns.

 

Kia ora,

We just hit our half way mark! Thank you to the 97 people who have invested $403,000 in Collett’s Corner since we launched the campaign 10 days ago.

If you’ve been watching the project, wondering about getting involved, now’s the time! Head to PledgeMe to invest anything from $120 upwards. Thanks for your support whānau!

This is the second and last equity crowdfunding campaign. We are raising between $800,000 and $1,400,000. The equity crowdfunding campaign closes 29 October at 7pm. Don’t miss out and don’t let your friends miss out either. 


We’ve heard many reasons from people as to why they are investing in Collett’s Corner:

- It demonstrates that we can approach property development in a way that the community is at the heart of the decisions.

- It is a local project with national significance.

- It is an approach to property development that other towns and cities can replicate.

- The financial returns are better than keeping your money in the bank.

- It shows that we can work together to build the buildings we want in our towns and cities.

- We need new models and this is a new model!

 

We have collected the questions we have received and answered them here

 

 

This week’s stops on our Crowdfunding Roadshow

Following a warm welcome in Kerikeri, a full house in Auckland and an in depth conversation in Raglan, we have just finished the day back in the sunshine at the Lyttelton market. Next up we’re excited about this week down South.

- Wānaka | Monday 5th, 7pm | Wānaka Community Hub (RSVP here)

- Online  | Tuesday 6th, 7pm | Zoom (RSVP here)

- Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)

- Dunedin | Thursday 8th, 5pm | Athenaeum, 23 The Octagon (RSVP here)

 

And in the weeks ahead we will also be co-hosing events in:

- Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)

- Golden Bay | Wednesday 14th, 12pm | venue tbc (RSVP here)

- Wellington | Monday 19th, 6pm | location tbc (RSVP here)

 

I’m available to meet in person or talk by phone if you would like to discuss the project, please don’t hesitate to get in touch with an email or a call to my number below.

 

Ngā mihi,

 

Camia Young
Founding Director
021 1125 087
www.collettscorner.nz

 

 

What financial return can I earn from investing in Collett’s Corner?

30/09/2020 at 11:56 AM

Sharing ownership. Sharing the journey. Sharing the returns

 

Kia ora,

One week into our equity crowdfunding campaign and we’ve raised $174,600 from 85 investors! That’s 22% towards our minimum goal of $800,040. Thanks to each of you who have invested in us so far. We’re looking forward to welcoming you as shareholders later this month.

Financial returns
This update is focused on the financial return that can be earned from investing in Collett’s Corner. Looking beyond the social purpose at the heart of the building, it’s critical that the financial model of the building offers you an attractive return on your investment. Over the next ten years, we are forecasting an average return of 7% a year for people who invest in this round.

 

 

Collett’s Corner will open in FY2024 and, beginning in FY2025, shareholders will benefit financially. It’s important to acknowledge that investing in property is a longer term investment. We forecast two types of return: a cash return and an equity return. The cash return is dividends paid to shareholders. The equity return is the value of your shares, which increases over time as we repay our operating loan. Over time, the cash return increases as we earn higher rental income and the equity return reduces as the operating loan reduces to zero. You can read the full details in the share offer section of our investment memorandum on the PledgeMe page.

 

 

Collett’s Corner Roadshow
We kicked off the crowdfunding roadshow with a fantastic evening in Kerikeri. A big thank you to Barbara Belger for warmly welcoming us up North! 

Tonight I’ll be participating in a panel discussion on doing development differently. I’ll be alongside Robin Allison from Earthsong, Thom Gill from CoHaus, Kyron Gosse from The Muriwai Micro Collective and Peter Jeffries from CORT Community Housing. My good friend Tony Van Raat will be facilitating the discussion.

Auckland | Wednesday 30th, 6pm | Objectspace, Grey Lynn (RSVP here) TONIGHT
Raglan | Thursday 1st October, 4pm | Raglan Town Hall (RSVP here)
Wānaka | Monday 5th, 7pm | Wānaka Community Hub (RSVP here)
Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)
Online for the living room warriors | Tuesday 6th, 7pm | Zoom (RSVP here)
Dunedin | Thursday 8th, 5pm | Athenaeum, 23 The Octagon (RSVP here)
Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)
Golden Bay | Wednesday 14th, 12pm | venue tbc (RSVP here)
Wellington | Monday 19th, 6pm | Wellington City Council (RSVP here)

If you’ve got close friends and family in these regions, please share these events with them. The more people we can introduce to the project, the more people invest in it, the closer we are to reaching the $800,000 minimum goal! 

If you live in one of the areas I'm visiting, and you are keen for a one on one catch up, please reach out and if time allows I would be delighted to meet you personally. 

 

Ngā mihi,

 

Camia Young
Founding Director
021 1125 087
www.collettscorner.nz

 

We are live!

23/09/2020 at 3:02 PM

What people are saying about Collett's Corner.

 

Sharing ownership. Sharing the journey. Sharing the returns.

 

 

Kia ora,

We are now live! This is your chance to invest in Collett’s Corner and be part of establishing a new approach to property development, one that builds community as well as offers financial returns. 

We’re excited about the buzz of interest we’ve had from around the country. If you want to own shares, I’d suggest buying them early, because we won’t be selling shares again.

On this campaign page you will find the details of our offer, our information memorandum and our video. We’re also keeping a live FAQ, which compiles the questions we’ve received in one place.

 

Launch party 6pm tonight at Eruption Brewing

We’re celebrating the launch of our equity crowdfunding campaign and our launch of the apartment sales with a party at Eruption Brewing Lyttelton. It’s happening tonight at 6pm and we’d love to see you there! There will be a fun facts quiz at 6:30, the top three winners will receive a share in Collett’s Corner.

 

The Collett’s Corner Roadshow

I’m travelling Aotearoa and sharing the Collett’s Corner story over the coming month. Check out our full events schedule on Facebook and come along to an event near you!

ChCh | Saturday 26th Sept, 5:30pm | XCHC (RSVP here)

Kerikeri | Monday 28th, 6.30pm | Cornerstone - Whare Karakia o Manako (RSVP here)

Auckland | Wednesday 30th, 6pm | Objectspace, Grey Lynn (RSVP here)

Raglan | Thursday 1st October, 4pm | Raglan Town Hall (RSVP here)

Wānaka | Monday 5th, 7pm | Wānaka Community Hub (RSVP here)

Online | Tuesday 6th, 7pm | Zoom (RSVP here)

Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)

Dunedin | Thursday 8th | time and location tbc 

Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)

Golden Bay | Wednesday 14th, 12pm | venue tbc (RSVP here)

Wellington | Monday 19th, 6pm | Wellington City Council (RSVP here)

Whanganui | date, time and location tbc

Tauranga | date, time and location tbc

 

One more surprise

Just when you thought the team could not roll out one more surprise, we’ve launched our new website. Feel free to check it out here. It has details about the apartments, as well as a library of past newsletters, upcoming events and media articles.

 

 

Ngā mihi,

 

Camia Young

Founding Director

021 1125 087

www.collettscorner.nz

    Details

    Offer Details

    Current Valuation 1,222,560
    Raise Minimum 800,040
    Raise Maximum 1,400,040
    Share Price 120.00
    Maximum Shares Offered 11,667
    Explanation of valuation:

    The 20% increase in share price from last year’s crowdfunding raise reflects the reduced risk of the project due to the resource consent being granted. This increase is also comparable to the 14% annualised return on the publicly traded NZ Smartshares Property ETF (NPF) over the past three years.

    More commentary provided in our IM.

    Financial Summary

    Prev Year Current Year Est. FY 2022 Est. FY 2023
    Revenue NZ $5,015 NZ $0 NZ $0 NZ $0
    Operating Expenses NZ $79,377 NZ $148,083 NZ $111,625 NZ $174,429
    EBITDA -NZ $22,599 -NZ $148,083 -NZ $111,625 -NZ $174,429
    Net Profit -NZ $48,734 -NZ $183,493 -NZ $296,962 -NZ $821,485

    Company Details

    Company Name: Collett's Corner Limted

    Company Number: 7083213

    Company details are currently being synced with the Companies Office, please wait.

    Company Documents

    Company_Extract_Collett's_Corner.pdf

    (application/pdf, 1.07 MB, uploaded 19 September 2020)

    Cert_of_Inc_Collett's_Corner.pdf

    (application/pdf, 587 KB, uploaded 19 September 2020)

    Constitution_Collett's_Corner.pdf

    (application/pdf, 227 KB, uploaded 19 September 2020)

    Colletts_Corner_IM.pdf

    (application/pdf, 1.23 MB, uploaded 20 September 2020)

    Colletts_Corner_-_Financial_Information.pdf

    (application/pdf, 66.3 KB, uploaded 20 September 2020)

    JLL_report_-_Collett's_Corner_-_August_2019.pdf

    (application/pdf, 11.9 MB, uploaded 08 October 2020)

    Director Details

    Name Role Profile URL Invested?
    Camia Young Founding Director https://nz.linkedin.com/in/camiayoung
    Raf Manji Shareholder-appointed Director https://nz.linkedin.com/in/raf-manji-a576022

    Questions 6

    Ask a Question (You must login to ask a question)


    How high above sea level is the site for the building? Has sea level rise been considered, keeping in mind that property values will plummet in some areas as people become aware of future problems from sea level rise. Thanks

    Posted on 22-09-2020 by Terry Woods

    Kia ora Terry, the site is 27.5m above sea level (on average) so we'll be fine. We'll be helping out others living on lower land in our community before we need to consider our building.
    Kindly,
    Camia

    Answered on 23-09-2020 by Camia


    Hi,
    Can you please explain more about the effect of and need for the founder shares being entitled to appoint 4 of the 5 directors?
    From the IM, there are only 2 entities that own founder shares, and they will own less than 11% of the company (yet, be entitled to appoint a supermajority of directors)
    From the information in the IM and the constitution, even with a maximum raise, the 'crowd' would only own 74% and therefore be unable to change the constitution (because it would be a special resolution and require 75% of shareholders to vote in favour) to remove or amend this clause to have directorship more accurately represent ownership.
    Are you likely to change this, or convert the founder shares to investor shares in the near future?

    Posted on 23-09-2020 by Scott Parlane

    Thanks for your question, Scott.

    Collett's Corner will move through two distinct phases: the development phase which we're currently in and the operating phase which begins when the doors of the building open in 2023. For the development phase, Ohu and I - as those responsble for delivering the development - wanted to ensure that the appointed directors have the necessary skills to see the build through to completion, whilst at the same time achieving shareholder representation.

    The constitution allows for the founding shareholders to pass the power of appointing all directors to the investor shareholders and the intention is to do that once we reach the operating phase.

    Answered on 23-09-2020 by Camia


    There is a slight discrepancy between the pre-money valuation listed on Pledgeme website and the IM. Which amount is correct?

    Posted on 23-09-2020 by Cristian

    Thanks for spotting that $2,320 difference, Cristian. I can confirm that the IM is correct. We'll update the figure on the PledgeMe page so that it reflects the correct figure of $1,222,560 (10,188 shares at $120 each).

    Answered on 23-09-2020 by Camia


    What are the investor perks suggested but not spelled out? Front of queue for choosing an apartment?

    Posted on 05-10-2020 by Charles Wedd

    Thanks for your question, Charles. Shareholders won't have first choice on the apartments. The investor perk that we are giving to all shareholders - no matter the size of their investment - is full voting rights. If you are interested in the apartments, I can put you in touch with our real estate agent, Bayleys.
    Kindly,
    Camia

    Answered on 05-10-2020 by Camia


    Hello,

    Congrats on this amazing initiative!

    I have a couple of questions on the financials. The information memorandum forecasts first full-year rental income in 2025 of $323,257 (then escalating by 2%). Based on ‘current rent estimates’, this is generated 65% from the wellness centre (about $17.5k/month in 2025 by my calculations), and 17% from the restaurant (about $4.5k/month). I understand that these are commercial estimates developed by JLL. You also say "we are seeking bespoke operators that align with our mission and expect a long-term collaborative effort for the space. For our first three years of operations, we also intend to secure long-term tenants by offering an incentive in the way of reduced rent.” This make sense, but therefore my question on this are:
    1. In the Profit and Loss table on page 34 of the IM, I can’t see an associated shift in rental income at year 3/2027, how much are you planning to discount? (It also doesn’t seem evident in the graph on page 35) Is this first 3-year discount accounted for in the return calculations presented?
    2. How confident are you that businesses that meet the ethos of the development will also be able to pay fully commercial rentals? eg. in the risks it says that “(Ūkaipō) are currently working on developing a business plan to meet bank requirements”. As the pre-selected anchor tennant, can you provide more specific commentary on the ability of their business to absorb the expected rental cost?
    3. How specifically are the rental rates for the retail and restaurant spaces benchmarked to rents on London street?
    4. Are you able to provide any more sensitivity analysis/scenarios to illustrate the impacts on returns if the forecast annual rental incomes in the IM cannot be achieved, and/or the target sale values of the apartments cannot be reached?

    Then, on the design
    a. There doesn’t seem to be much in terms of trees and greenery in the design. Have you explored all options for integrating nature-based solutions?
    b. I don’t see any provision for solar PV and/or central heating in either the design concept or business model? Have these been considered and/or could they still be included? Energy supply to the building occupants could become an additional revenue stream to the long-term business

    Posted on 07-10-2020 by Tim Taylor

    Kia ora Tim and thank you for each of your questions. I appreciate the depth of detail that you have gone to and you are on point with all of our major risks. Property development is a high risk investment.

    Financial:
    1. For the first three years of operations (our Settling In phase), tenants will be supported through reduced rents. These discounts are recorded under our operating expenses as rental rebates and are forecast to be $50,000 in FY2024, $40,000 in FY2025 and $10,000 in FY2026. Without those rebates, returns would be higher in FY2025 and FY2026.

    2. This is a risk like every other property development. The approach that we have taken is that I am working with Chelita to develop her business plan. Chelita has a number of business mentors and is part of a network of Maori healing practitioners, all of whom own their own businesses. Many of those healing practitioners will practice from Ūkaipō.

    3. You can find the comparable rental rates for London Street retail and restaurant spaces in the JLL report which we’ve added to the Details tab on the PledgeMe campaign page.

    4. We believe that the rental rates that we have used in our financial model are conservative. However, if we experience unexpected economic shocks that reduce rental income, the returns to investors will be lower. If we don’t pre-sell 70% to 80% of the apartments, we will not be able to access bank loans to build the building. This is a risk that we are very aware of.

    Design:
    a. We have placed planter boxes throughout on the ground, first, second floors and rooftop.

    b. The roof will have the ability to accommodate solar panels. We have not designed the heating system yet. That is to come in the next design phase. It is our intention to provide an energy efficient system that meets a high standard for resident’s and tenant’s wellbeing and comfort while being within the construction budget.

    Kindly,
    Camia

    Answered on 08-10-2020 by Camia


    Hi, can you clarify the numbers for me, in the money raised section, the majority of this is made up of $10M, and $12M in loans, yet you only have $15M in forecast spend/costs. Where is the remainder of the money going?

    Posted on 20-10-2020 by Adrian Edge

    Thanks for your question, Adrian. In the commentary on page 32 of the IM under the "capital raised and to be raised" table, you'll see that the $9,834,681 apartment sales proceeds will be used to repay the construction loan of $9,500,000. Also, you'll see in the Balance Sheet commentary on page 35, that the $2,473,747 operational loan will repay the rest of the borrowing that is taken on before the doors open (namely, the $1,073,445 subordinated construction loan and the $720,000 loan to purchase land). When we take those into account, the total amount of capital needed is $14m (adding up the table on page 32, minus the land loan and construction loans) to foot the total spend of $14m.

    Kindly,
    Camia

    Answered on 21-10-2020 by Camia

    Pledgers 283

    Peter
    2020-10-15 14:04:35 +1300
    Damian Sligo-Green
    2020-10-15 13:53:00 +1300
    Clare Piper
    2020-10-15 13:51:41 +1300

    "I saw Di Lucas got a button! Can I have one please? Clare "

    Ruth Lawson
    2020-10-15 12:52:06 +1300
    Huia Lambie
    2020-10-15 10:44:40 +1300

    "Kia kaha!! "

    Will Harvie
    2020-10-15 10:24:03 +1300
    Janette Malcolm
    2020-10-15 10:19:19 +1300
    Bev Shepherd
    2020-10-15 10:04:03 +1300
    Michele Hosking
    2020-10-15 08:14:32 +1300
    Louise Baker
    2020-10-15 06:40:05 +1300

    "I'm so pleased to have the opportunity to be a part of this wonderful community project!"

    Brenna Waghorn
    2020-10-14 22:20:10 +1300
    Glen Hughes
    2020-10-14 16:26:35 +1300
    Matt Lawrey
    2020-10-14 13:37:05 +1300

    "Just wanted to make this small gesture to show my support for you Camia and your team. Thanks for coming to Nelson. We love your vision."

    Geoff Tobeck
    2020-10-14 13:32:41 +1300
    Rachel Sanson
    2020-10-14 10:21:53 +1300

    "Camia and team, we love your vision for a new way of building community and housing solutions where purpose, funding and returns are shared!"

    Andrew Boyd Barber
    2020-10-14 10:16:09 +1300
    Chris Johnston
    2020-10-13 15:51:53 +1300
    Max
    2020-10-13 12:42:42 +1300
    Max
    2020-10-13 12:42:08 +1300
    Eleanor Hay
    2020-10-13 09:08:36 +1300
    Adam Lines
    2020-10-12 23:38:03 +1300
    Youngi Kim
    2020-10-12 20:17:52 +1300
    Paul martin
    2020-10-12 19:52:20 +1300
    Pani Zaitsev
    2020-10-12 18:19:28 +1300
    Alex Hallatt
    2020-10-12 17:30:11 +1300
    Katie Earle
    2020-10-12 16:39:12 +1300
    Gary Stewart
    2020-10-12 16:09:17 +1300

    "good luck!"

    Chris Johnston
    2020-10-12 15:00:00 +1300
    Penny Carnaby
    2020-10-12 13:33:28 +1300
    Helen J Mann
    2020-10-12 13:24:47 +1300

    Collett's Corner

    People
    powered
    property
    development

    Over 340 everyday people came together last year to make Collett’s Corner New Zealand’s first community minded, equity crowdfunded commercial property development.

    Now with resource consent granted and a clear path to building the building, we're going back out to you, our crowd, to progress Collett’s Corner through construction. This is your opportunity to join us.


       

     

     

    Our building

    Collett’s Corner is a multi-use commercial building, to be constructed on Lyttelton’s main street. Designed in collaboration with the community, the building is a lively mix of spaces including a centre for wellbeing, hospitality, retail, co-working space, laneways and co-living apartments.



    The upper two floors of apartments are being sold to finance the construction of the building.

    The ground floor and basement will be owned by the company. At the heart of these two floors will be the Ūkaipō Wellbeing Sanctuary. Ūkaipō will offer a carefully curated range of traditional and contemporary healing modalities. Ūkaipō means Mother, origin, source of sustenance; to return to one’s real home. The vision for this atea (space) is to return people to their truest sense of self. Its offerings and accompanying surrounds will give the community a place where the best in mental, physical, spiritual, emotional and family wellbeing can be found.

     

    Our four key purposes

     

    Our team

     

     

    The share offer

    We are raising between $800,040 and $1,400,040 through equity crowdfunding to complete the final designs, grow the team, engage contractors, secure bank funding and progress Collett’s Corner through construction. Read our Investment Memorandum for full details of the share offer.


       

     

    Capitalisation table

    Note: the percentage ownership on offer indicated on this PledgeMe page (39.6%) differs from our actual offer (38%), as the percentage in our offer includes the effect of a part of Camia's loan being converted to shares.

    Capital strategy

     

    Why invest?

    Collett’s Corner combines financial return, tangible ownership in a prominent and sought-after Lyttelton property and social impact. What resonated with our current shareholders?

     

    Forecasted financial return

    The building will generate income for investors through renting the ground floor and basement.

     

    Our past and future path

     


       

     

     

    Risks and challenges


     

    Questions & Answers

    We have collected questions we have received about the offer and are sharing them along with answers here.

     

    A Note from PledgeMe

    We have completed a Veda check on the company and its Directors, as well as Google checks. There were no adverse findings. There is an interest registered around this campaign, as a previous PledgeMe employee supported the preparation of this campaign, and the directors of Collett's Corner are shareholders of PledgeMe, and some of the PledgeMe team are shareholders of Collett's Corner through their last round. 

     

    We’ve hit $500,000!

    19/10/2020 at 4:05 PM

     

    Sharing ownership. Sharing the journey. Sharing the returns

     

    Kia ora,

    It’s been a big weekend of celebration and history making. To add to the excitement, we hit the half a million mark yesterday! Thank you to the 177 people who have invested a total of $505,920 in Collett’s Corner Ltd. 

    With 10 days to go and $300,000 more to be raised, now is the time to invest. It is all or nothing folks, we don't see a single dollar if we don't raise the $800,040.  

                                                               

    Will you share the project with three people today so that we can reach as many people as possible before the campaign closes. Here's the campaign: pldg.me/collettscorner2020

     

    Lets make this happen together!

     

    Ngā mihi,

     

    Camia Young
    Founding Director
    021 1125 087
    www.collettscorner.nz

     

     

     

    Three weeks to go | What makes Collett’s Corner unique?

    07/10/2020 at 9:56 AM

     

    Sharing ownership. Sharing the journey. Sharing the returns
     
    Kia ora,
    Only three weeks left for our equity crowdfunding campaign, closing on October 29th at 7pm. This is the second and last equity crowdfunding campaign, so if you are considering investing, don’t miss out, invest today. 
     
    We have already raised $419,000 from 113 of you so far, and the campaign has been open for just 2 weeks. You can invest for as little as $120 and up to 10% of the company ($212,000). Most people are investing between $1,000 and $3,000. We are raising between $800,000 and $1.4m. The idea is that every day people can pool their resources and together we can create the buildings we want in our towns and cities.
     
                                                           
     
    What makes Collett’s Corner unique?

    There are four things that make Collett’s Corner different from other commercial development:
     
    First, we worked with the local community to determine what is appropriate to build on the site, in the case of Collett’s Corner it is a combination of co-living inspired apartments and a wellness sanctuary.
     
    Second, we are making it accessible for everyday people to own shares and benefit from the financial returns. In a typical commercial development the entry level investment would be a minimum of $50,000 and up. Collett’s Corner is inclusive in that to invest you can purchase as little as one share, this makes it possible for everyday Kiwis to invest.
     
    Third, we believe it is possible to build a community by building a building. At the heart of Collett’s Corner is Ūkaipō, which is intentionally designed to build a community committed to wellbeing. When you invest in Collett’s Corner you not only benefit from financial returns (which are comparable to other commercial developments), but you also benefit from being part of building a community. There is no other commercial development that we know of that approaches property development in this way.
     
    Fourth, this is a local project with national significance. Collet’s Corner is pioneering a new approach to property development, as the first equity crowdfunded commercial development, we are demonstrating that it is possible for every day people to pool their resources and invest in the places we want in our towns and cities. This is an approach other towns across Aotearoa can model.
     
    When we weave those four threads together we build a building that builds community. A community that thrives together socially and financially.
     
    This week’s stops on our crowdfunding roadshow
    We’re back on the South Island this week. Come catch up with us at:
    •Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)

    •Dunedin Housing Panel | Thursday 8th, 5pm | Athenaeum, 23 The Octagon (RSVP here)

    •Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)

    •Golden Bay | Wednesday 14th, 12:30pm | Mohua Social Services, 88 Commercial Street (RSVP here)

     
    For those of you who can’t make our in-person events, we recorded our online event last night. You can watch our presentation and Q&A here:


     
                                                               
     
     
    And our final week on the road takes us to Wellington, we’ll be co-hosting this event:
    •Wellington Housing Panel | Monday 19th, 6pm | Enspiral Dev Academy, 275 Cuba St* (RSVP here) 

     
    *Please note the change of venue.
     
    Mindfood article 
    For those of you interested in purchasing apartments, we had an article about the co-living apartments feature in Mindfood Magazine this week.
     
                                             
     
     
    Will you join us in changing how we do property? Forwarding this email, letting your friends & whānau know that you’re a supporter, joining us on social media are all invaluable steps — help us to spread the word!
     
    Ngā mihi,
     
    Camia Young
    Founding Director
    021 1125 087

    We hit our halfway mark!

    03/10/2020 at 8:07 PM

     

    Sharing ownership. Sharing the journey. Sharing the returns.

     

    Kia ora,

    We just hit our half way mark! Thank you to the 97 people who have invested $403,000 in Collett’s Corner since we launched the campaign 10 days ago.

    If you’ve been watching the project, wondering about getting involved, now’s the time! Head to PledgeMe to invest anything from $120 upwards. Thanks for your support whānau!

    This is the second and last equity crowdfunding campaign. We are raising between $800,000 and $1,400,000. The equity crowdfunding campaign closes 29 October at 7pm. Don’t miss out and don’t let your friends miss out either. 


    We’ve heard many reasons from people as to why they are investing in Collett’s Corner:

    - It demonstrates that we can approach property development in a way that the community is at the heart of the decisions.

    - It is a local project with national significance.

    - It is an approach to property development that other towns and cities can replicate.

    - The financial returns are better than keeping your money in the bank.

    - It shows that we can work together to build the buildings we want in our towns and cities.

    - We need new models and this is a new model!

     

    We have collected the questions we have received and answered them here

     

     

    This week’s stops on our Crowdfunding Roadshow

    Following a warm welcome in Kerikeri, a full house in Auckland and an in depth conversation in Raglan, we have just finished the day back in the sunshine at the Lyttelton market. Next up we’re excited about this week down South.

    - Wānaka | Monday 5th, 7pm | Wānaka Community Hub (RSVP here)

    - Online  | Tuesday 6th, 7pm | Zoom (RSVP here)

    - Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)

    - Dunedin | Thursday 8th, 5pm | Athenaeum, 23 The Octagon (RSVP here)

     

    And in the weeks ahead we will also be co-hosing events in:

    - Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)

    - Golden Bay | Wednesday 14th, 12pm | venue tbc (RSVP here)

    - Wellington | Monday 19th, 6pm | location tbc (RSVP here)

     

    I’m available to meet in person or talk by phone if you would like to discuss the project, please don’t hesitate to get in touch with an email or a call to my number below.

     

    Ngā mihi,

     

    Camia Young
    Founding Director
    021 1125 087
    www.collettscorner.nz

     

     

    What financial return can I earn from investing in Collett’s Corner?

    30/09/2020 at 11:56 AM

    Sharing ownership. Sharing the journey. Sharing the returns

     

    Kia ora,

    One week into our equity crowdfunding campaign and we’ve raised $174,600 from 85 investors! That’s 22% towards our minimum goal of $800,040. Thanks to each of you who have invested in us so far. We’re looking forward to welcoming you as shareholders later this month.

    Financial returns
    This update is focused on the financial return that can be earned from investing in Collett’s Corner. Looking beyond the social purpose at the heart of the building, it’s critical that the financial model of the building offers you an attractive return on your investment. Over the next ten years, we are forecasting an average return of 7% a year for people who invest in this round.

     

     

    Collett’s Corner will open in FY2024 and, beginning in FY2025, shareholders will benefit financially. It’s important to acknowledge that investing in property is a longer term investment. We forecast two types of return: a cash return and an equity return. The cash return is dividends paid to shareholders. The equity return is the value of your shares, which increases over time as we repay our operating loan. Over time, the cash return increases as we earn higher rental income and the equity return reduces as the operating loan reduces to zero. You can read the full details in the share offer section of our investment memorandum on the PledgeMe page.

     

     

    Collett’s Corner Roadshow
    We kicked off the crowdfunding roadshow with a fantastic evening in Kerikeri. A big thank you to Barbara Belger for warmly welcoming us up North! 

    Tonight I’ll be participating in a panel discussion on doing development differently. I’ll be alongside Robin Allison from Earthsong, Thom Gill from CoHaus, Kyron Gosse from The Muriwai Micro Collective and Peter Jeffries from CORT Community Housing. My good friend Tony Van Raat will be facilitating the discussion.

    Auckland | Wednesday 30th, 6pm | Objectspace, Grey Lynn (RSVP here) TONIGHT
    Raglan | Thursday 1st October, 4pm | Raglan Town Hall (RSVP here)
    Wānaka | Monday 5th, 7pm | Wānaka Community Hub (RSVP here)
    Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)
    Online for the living room warriors | Tuesday 6th, 7pm | Zoom (RSVP here)
    Dunedin | Thursday 8th, 5pm | Athenaeum, 23 The Octagon (RSVP here)
    Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)
    Golden Bay | Wednesday 14th, 12pm | venue tbc (RSVP here)
    Wellington | Monday 19th, 6pm | Wellington City Council (RSVP here)

    If you’ve got close friends and family in these regions, please share these events with them. The more people we can introduce to the project, the more people invest in it, the closer we are to reaching the $800,000 minimum goal! 

    If you live in one of the areas I'm visiting, and you are keen for a one on one catch up, please reach out and if time allows I would be delighted to meet you personally. 

     

    Ngā mihi,

     

    Camia Young
    Founding Director
    021 1125 087
    www.collettscorner.nz

     

    We are live!

    23/09/2020 at 3:02 PM

    What people are saying about Collett's Corner.

     

    Sharing ownership. Sharing the journey. Sharing the returns.

     

     

    Kia ora,

    We are now live! This is your chance to invest in Collett’s Corner and be part of establishing a new approach to property development, one that builds community as well as offers financial returns. 

    We’re excited about the buzz of interest we’ve had from around the country. If you want to own shares, I’d suggest buying them early, because we won’t be selling shares again.

    On this campaign page you will find the details of our offer, our information memorandum and our video. We’re also keeping a live FAQ, which compiles the questions we’ve received in one place.

     

    Launch party 6pm tonight at Eruption Brewing

    We’re celebrating the launch of our equity crowdfunding campaign and our launch of the apartment sales with a party at Eruption Brewing Lyttelton. It’s happening tonight at 6pm and we’d love to see you there! There will be a fun facts quiz at 6:30, the top three winners will receive a share in Collett’s Corner.

     

    The Collett’s Corner Roadshow

    I’m travelling Aotearoa and sharing the Collett’s Corner story over the coming month. Check out our full events schedule on Facebook and come along to an event near you!

    ChCh | Saturday 26th Sept, 5:30pm | XCHC (RSVP here)

    Kerikeri | Monday 28th, 6.30pm | Cornerstone - Whare Karakia o Manako (RSVP here)

    Auckland | Wednesday 30th, 6pm | Objectspace, Grey Lynn (RSVP here)

    Raglan | Thursday 1st October, 4pm | Raglan Town Hall (RSVP here)

    Wānaka | Monday 5th, 7pm | Wānaka Community Hub (RSVP here)

    Online | Tuesday 6th, 7pm | Zoom (RSVP here)

    Invercargill | Wednesday 7th, 6pm | venue tbc (RSVP here)

    Dunedin | Thursday 8th | time and location tbc 

    Nelson | Tuesday 13th, 5.30pm | What is a Home (RSVP here)

    Golden Bay | Wednesday 14th, 12pm | venue tbc (RSVP here)

    Wellington | Monday 19th, 6pm | Wellington City Council (RSVP here)

    Whanganui | date, time and location tbc

    Tauranga | date, time and location tbc

     

    One more surprise

    Just when you thought the team could not roll out one more surprise, we’ve launched our new website. Feel free to check it out here. It has details about the apartments, as well as a library of past newsletters, upcoming events and media articles.

     

     

    Ngā mihi,

     

    Camia Young

    Founding Director

    021 1125 087

    www.collettscorner.nz

      Offer Details

      Current Valuation 1,222,560
      Raise Minimum 800,040
      Raise Maximum 1,400,040
      Share Price 120.00
      Maximum Shares Offered 11,667
      Explanation of valuation:

      The 20% increase in share price from last year’s crowdfunding raise reflects the reduced risk of the project due to the resource consent being granted. This increase is also comparable to the 14% annualised return on the publicly traded NZ Smartshares Property ETF (NPF) over the past three years.

      More commentary provided in our IM.

      Financial Summary

      Prev Year Current Year Est. FY 2022 Est. FY 2023
      Revenue NZ $5,015 NZ $0 NZ $0 NZ $0
      Operating Expenses NZ $79,377 NZ $148,083 NZ $111,625 NZ $174,429
      EBITDA -NZ $22,599 -NZ $148,083 -NZ $111,625 -NZ $174,429
      Net Profit -NZ $48,734 -NZ $183,493 -NZ $296,962 -NZ $821,485

      Company Details

      Company Name: Collett's Corner Limted

      Company Number: 7083213

      Company details are currently being synced with the Companies Office, please wait.

      Company Documents

      Company_Extract_Collett's_Corner.pdf

      (application/pdf, 1.07 MB, uploaded 19 September 2020)

      Cert_of_Inc_Collett's_Corner.pdf

      (application/pdf, 587 KB, uploaded 19 September 2020)

      Constitution_Collett's_Corner.pdf

      (application/pdf, 227 KB, uploaded 19 September 2020)

      Colletts_Corner_IM.pdf

      (application/pdf, 1.23 MB, uploaded 20 September 2020)

      Colletts_Corner_-_Financial_Information.pdf

      (application/pdf, 66.3 KB, uploaded 20 September 2020)

      JLL_report_-_Collett's_Corner_-_August_2019.pdf

      (application/pdf, 11.9 MB, uploaded 08 October 2020)

      Director Details

      Name Role Profile URL Invested?
      Camia Young Founding Director https://nz.linkedin.com/in/camiayoung
      Raf Manji Shareholder-appointed Director https://nz.linkedin.com/in/raf-manji-a576022

      Ask a Question (You must login to ask a question)


      How high above sea level is the site for the building? Has sea level rise been considered, keeping in mind that property values will plummet in some areas as people become aware of future problems from sea level rise. Thanks

      Posted on 22-09-2020 by Terry Woods

      Kia ora Terry, the site is 27.5m above sea level (on average) so we'll be fine. We'll be helping out others living on lower land in our community before we need to consider our building.
      Kindly,
      Camia

      Answered on 23-09-2020 by Camia


      Hi,
      Can you please explain more about the effect of and need for the founder shares being entitled to appoint 4 of the 5 directors?
      From the IM, there are only 2 entities that own founder shares, and they will own less than 11% of the company (yet, be entitled to appoint a supermajority of directors)
      From the information in the IM and the constitution, even with a maximum raise, the 'crowd' would only own 74% and therefore be unable to change the constitution (because it would be a special resolution and require 75% of shareholders to vote in favour) to remove or amend this clause to have directorship more accurately represent ownership.
      Are you likely to change this, or convert the founder shares to investor shares in the near future?

      Posted on 23-09-2020 by Scott Parlane

      Thanks for your question, Scott.

      Collett's Corner will move through two distinct phases: the development phase which we're currently in and the operating phase which begins when the doors of the building open in 2023. For the development phase, Ohu and I - as those responsble for delivering the development - wanted to ensure that the appointed directors have the necessary skills to see the build through to completion, whilst at the same time achieving shareholder representation.

      The constitution allows for the founding shareholders to pass the power of appointing all directors to the investor shareholders and the intention is to do that once we reach the operating phase.

      Answered on 23-09-2020 by Camia


      There is a slight discrepancy between the pre-money valuation listed on Pledgeme website and the IM. Which amount is correct?

      Posted on 23-09-2020 by Cristian

      Thanks for spotting that $2,320 difference, Cristian. I can confirm that the IM is correct. We'll update the figure on the PledgeMe page so that it reflects the correct figure of $1,222,560 (10,188 shares at $120 each).

      Answered on 23-09-2020 by Camia


      What are the investor perks suggested but not spelled out? Front of queue for choosing an apartment?

      Posted on 05-10-2020 by Charles Wedd

      Thanks for your question, Charles. Shareholders won't have first choice on the apartments. The investor perk that we are giving to all shareholders - no matter the size of their investment - is full voting rights. If you are interested in the apartments, I can put you in touch with our real estate agent, Bayleys.
      Kindly,
      Camia

      Answered on 05-10-2020 by Camia


      Hello,

      Congrats on this amazing initiative!

      I have a couple of questions on the financials. The information memorandum forecasts first full-year rental income in 2025 of $323,257 (then escalating by 2%). Based on ‘current rent estimates’, this is generated 65% from the wellness centre (about $17.5k/month in 2025 by my calculations), and 17% from the restaurant (about $4.5k/month). I understand that these are commercial estimates developed by JLL. You also say "we are seeking bespoke operators that align with our mission and expect a long-term collaborative effort for the space. For our first three years of operations, we also intend to secure long-term tenants by offering an incentive in the way of reduced rent.” This make sense, but therefore my question on this are:
      1. In the Profit and Loss table on page 34 of the IM, I can’t see an associated shift in rental income at year 3/2027, how much are you planning to discount? (It also doesn’t seem evident in the graph on page 35) Is this first 3-year discount accounted for in the return calculations presented?
      2. How confident are you that businesses that meet the ethos of the development will also be able to pay fully commercial rentals? eg. in the risks it says that “(Ūkaipō) are currently working on developing a business plan to meet bank requirements”. As the pre-selected anchor tennant, can you provide more specific commentary on the ability of their business to absorb the expected rental cost?
      3. How specifically are the rental rates for the retail and restaurant spaces benchmarked to rents on London street?
      4. Are you able to provide any more sensitivity analysis/scenarios to illustrate the impacts on returns if the forecast annual rental incomes in the IM cannot be achieved, and/or the target sale values of the apartments cannot be reached?

      Then, on the design
      a. There doesn’t seem to be much in terms of trees and greenery in the design. Have you explored all options for integrating nature-based solutions?
      b. I don’t see any provision for solar PV and/or central heating in either the design concept or business model? Have these been considered and/or could they still be included? Energy supply to the building occupants could become an additional revenue stream to the long-term business

      Posted on 07-10-2020 by Tim Taylor

      Kia ora Tim and thank you for each of your questions. I appreciate the depth of detail that you have gone to and you are on point with all of our major risks. Property development is a high risk investment.

      Financial:
      1. For the first three years of operations (our Settling In phase), tenants will be supported through reduced rents. These discounts are recorded under our operating expenses as rental rebates and are forecast to be $50,000 in FY2024, $40,000 in FY2025 and $10,000 in FY2026. Without those rebates, returns would be higher in FY2025 and FY2026.

      2. This is a risk like every other property development. The approach that we have taken is that I am working with Chelita to develop her business plan. Chelita has a number of business mentors and is part of a network of Maori healing practitioners, all of whom own their own businesses. Many of those healing practitioners will practice from Ūkaipō.

      3. You can find the comparable rental rates for London Street retail and restaurant spaces in the JLL report which we’ve added to the Details tab on the PledgeMe campaign page.

      4. We believe that the rental rates that we have used in our financial model are conservative. However, if we experience unexpected economic shocks that reduce rental income, the returns to investors will be lower. If we don’t pre-sell 70% to 80% of the apartments, we will not be able to access bank loans to build the building. This is a risk that we are very aware of.

      Design:
      a. We have placed planter boxes throughout on the ground, first, second floors and rooftop.

      b. The roof will have the ability to accommodate solar panels. We have not designed the heating system yet. That is to come in the next design phase. It is our intention to provide an energy efficient system that meets a high standard for resident’s and tenant’s wellbeing and comfort while being within the construction budget.

      Kindly,
      Camia

      Answered on 08-10-2020 by Camia


      Hi, can you clarify the numbers for me, in the money raised section, the majority of this is made up of $10M, and $12M in loans, yet you only have $15M in forecast spend/costs. Where is the remainder of the money going?

      Posted on 20-10-2020 by Adrian Edge

      Thanks for your question, Adrian. In the commentary on page 32 of the IM under the "capital raised and to be raised" table, you'll see that the $9,834,681 apartment sales proceeds will be used to repay the construction loan of $9,500,000. Also, you'll see in the Balance Sheet commentary on page 35, that the $2,473,747 operational loan will repay the rest of the borrowing that is taken on before the doors open (namely, the $1,073,445 subordinated construction loan and the $720,000 loan to purchase land). When we take those into account, the total amount of capital needed is $14m (adding up the table on page 32, minus the land loan and construction loans) to foot the total spend of $14m.

      Kindly,
      Camia

      Answered on 21-10-2020 by Camia

      Peter
      2020-10-15 14:04:35 +1300
      Damian Sligo-Green
      2020-10-15 13:53:00 +1300
      Clare Piper
      2020-10-15 13:51:41 +1300

      "I saw Di Lucas got a button! Can I have one please? Clare "

      Ruth Lawson
      2020-10-15 12:52:06 +1300
      Huia Lambie
      2020-10-15 10:44:40 +1300

      "Kia kaha!! "

      Will Harvie
      2020-10-15 10:24:03 +1300
      Janette Malcolm
      2020-10-15 10:19:19 +1300
      Bev Shepherd
      2020-10-15 10:04:03 +1300
      Michele Hosking
      2020-10-15 08:14:32 +1300
      Louise Baker
      2020-10-15 06:40:05 +1300

      "I'm so pleased to have the opportunity to be a part of this wonderful community project!"

      Brenna Waghorn
      2020-10-14 22:20:10 +1300
      Glen Hughes
      2020-10-14 16:26:35 +1300
      Matt Lawrey
      2020-10-14 13:37:05 +1300

      "Just wanted to make this small gesture to show my support for you Camia and your team. Thanks for coming to Nelson. We love your vision."

      Geoff Tobeck
      2020-10-14 13:32:41 +1300
      Rachel Sanson
      2020-10-14 10:21:53 +1300

      "Camia and team, we love your vision for a new way of building community and housing solutions where purpose, funding and returns are shared!"

      Andrew Boyd Barber
      2020-10-14 10:16:09 +1300
      Chris Johnston
      2020-10-13 15:51:53 +1300
      Max
      2020-10-13 12:42:42 +1300
      Max
      2020-10-13 12:42:08 +1300
      Eleanor Hay
      2020-10-13 09:08:36 +1300
      Adam Lines
      2020-10-12 23:38:03 +1300
      Youngi Kim
      2020-10-12 20:17:52 +1300
      Paul martin
      2020-10-12 19:52:20 +1300
      Pani Zaitsev
      2020-10-12 18:19:28 +1300
      Alex Hallatt
      2020-10-12 17:30:11 +1300
      Katie Earle
      2020-10-12 16:39:12 +1300
      Gary Stewart
      2020-10-12 16:09:17 +1300

      "good luck!"

      Chris Johnston
      2020-10-12 15:00:00 +1300
      Penny Carnaby
      2020-10-12 13:33:28 +1300
      Helen J Mann
      2020-10-12 13:24:47 +1300
      Equity Offer

      From NZ $800,040 for 39.6%

      Up to NZ $1,400,040 for 53.4%

      Share Offer

      Up to 11,667 Shares

      at NZ $120.00 per Share

      Investor Perks

      (Determined by your pledge amount)

      Voting Shares

      NZ $120.00+

      Buy shares in Collett's Corner and join everyday people taking ownership

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.