The Evolution of Augusta

Augusta is a Property Funds Manager that is one of the market leaders in its sector. Founded in 2001, Augusta has a solid track record in offering and managing successful shared ownership structures. In April of 2014, through their subsidiary Augusta Funds Management, Augusta acquired their largest competitor, KCL Property Limited, which brings their funds under management to over $1.8 billion across 65 properties throughout New Zealand and Australia.

Augusta's growth strategy is underpinned by an active management approach – where the scale and diversity of the offerings continues to expand as it grows its funds under management.


June 2001

Augusta Group founded as Private Property Investment Group with two staff and home office.

1st Purchase


August 2001

Augusta’s first acquisition of a small industrial building for refurbishment and re-leasing.


May 2002

Augusta develops ‘The Galleries’ in Auckland as their first significant residential development of 26 apartments.

Portfolio Size


Assets under management of $3.40 million.


May 2003

Augusta purchases first property for syndication - the Vertex Pacific Building in Hamilton for $3.4 million. With no brand and no reputation and a few ads in the Herald, the $1.85 million equity raise was one of Augusta's most difficult.


November 2005

Augusta makes plans to merge syndicates to create a Listed Property Trust.


Portfolio Size


Assets under management of $70 million.


December 2006

Kermadec Property Fund IPO $61.25 million equity raised. “We’ve gone public!”


Portfolio Size


Assets under management of $125 million.


May 2007

Purchase of 7 City Road.


July 2008

Purchase of the Finance Centre Podium to complete total Finance Centre acquisition.

December 2008

587 Great South Road syndication
– the first syndicated deal since the onset of the GFC.


March 2012

Augusta, the private company, and Kermadec, the public company, are merged.
Internalisation of management contract.
Purchase of funds management business.
Kermadec renamed as Augusta Capital Limited.
Augusta is now a listed property funds manager. The only one on the NZX.

Portfolio Size


Assets under management of $259 million.


March 2013

Assets under management of $310 million.


Portfolio Size


Assets under management of $310 million.



April 2014

Purchase of KCL, Augusta’s biggest competitor. Augusta triples its Funds Management business overnight.
Strategic alliance with Bayleys.

September 2014

Spark, Building C syndication commences.
At the time Augusta’s biggest ever capital raise.


Portfolio Size


Assets under management of $1.18 billion.


April 2015

Southgate, Takanini syndication commences.


August 2015

Sale of 7 City Road.

Portfolio Size


Assets under management of $1.27 billion.


February 2016

Financial Markets Conduct Act Licence.

April 2016

Launch of the Augusta Value Add Fund No.1 Limited. At the time Augusta’s biggest ever capital raise and our first wholesale fund.


May 2016

Unconditional contracts for NZME Buildings Graham St Auckland for $210 million. Building A is Augusta’s biggest ever capital raise.

Portfolio Size


Pipeline of upcoming offers will take assets under management to $1.60 billion by end of 2016.



February 2017

Move to new Augusta Head Quarters 30 Gaunt Street, Wynyard Quarter, Auckland.

April 2017

Syndication commences of 33 Broadway, Newmarket. Augusta’s first investment offering of a property while under construction.

July 2017

Nudgee Rd, Brisbane syndication launches. Augusta’s largest capital raise for an Australian investment.


Portfolio Size


Assets under management now $1.70 billion.


March 2018

The acceptance and settlement of the proposal to externalise the management of NPT to Augusta Funds Management. Augusta later rebranded NPT to Asset Plus Limited.


April 2018

The multi-asset Industrial Fund offer went live to the market with a capital raise of $75 million.


July 2018

Launch of the premium grade office complex in Parnell, Augusta St Georges Bay Road.

November 2018

Investors vote to sell four existing Augusta Funds Management syndicates into the Augusta Industrial Fund.

November 2018

The Value-Add Fund is wound up as the final of the five existing assets is sold providing an IRR of 11.75% to investors.

November 2018

54 Cook Street, Auckland is acquired by Augusta with future aspirations of being a seed asset for the Augusta Tourism Fund, with a lease for 20 years as the Jucy Hotel.

Portfolio Size


Assets under management now $1.85 billion.



January 2019

Current site Man St, Queenstown is acquired by Augusta for the construction of 5-star luxury hotel.

February 2019

The second capital raise for the Augusta Industrial Fund goes live to the market. 115,000,000 shares were offered to the market taking the total portfolio value to $300m.

February 2019

Kedron, Gympie Rd, Brisbane is launched in the market concurrently with the Industrial Fund. The offer raised $21.52m and closed over-subscribed.

kedron capture

May 2019

Augusta Capital delivers record FY19 financial result - the strongest in the Company's operating earnings history.

Portfolio Size


Assets under management now $1.83 billion.



June 2020

Takeover offer from Centuria New Zealand Holdings. On Monday 29 June, Centuria New Zealand Holdings Limited (Centuria), a wholly owned subsidiary of Centuria Capital Group dispatched its takeover offer (the Offer) seeking to acquire all the shares in Augusta Capital (Augusta) it does not currently own.

July 2020

Augusta Property Fund launches to market with the Initial asset Anglesea Medical Centre, Hamilton CBD


Portfolio Size


Assets under management of $1.8b