Oyster Property Group
Oyster Property Group is one of a select handful of companies who are established and highly regarded in the New Zealand property syndication market. The brain child of Mark Winter and Heather Coyne, Oyster Property Group combines the pair’s passion for real estate and their many years of experience to create a business that specialises in syndicating and managing quality properties for investors.
Oyster Property Group specialises in Proportionate Ownership Schemes; simply put, the group or syndicate ownership of a real estate asset. The property is managed on behalf of the group of investors and regulated by a management agreement that takes care of all financial and administrative matters.
This, coupled with the returns that Oyster-selected properties generate, makes Proportionate Ownership an extremely attractive form of investment; particularly for investors looking to benefit from ownership of commercial property who may not have the inclination or knowledge to maximise their investment.
“We’ve learned over the years to be very particular in the properties we choose to syndicate,” says Heather. “And when it comes to property investment, our philosophy is that it’s better to own a part of something very good, than the whole of something very average.”
As a result, Oyster Property Group clients own properties in six New Zealand cities – from their current offering at 102 Rosedale Road in Auckland to Fujitsu Tower on The Terrace in central Wellington. Investors purchase portions of properties in multiples of $100,000. Many choose to purchase multiple portions or to invest in multiple properties.
Mark and Heather are open and pragmatic about the benefits and risks involved in owning commercial property. Investors can be confident that their investment will cover each of the seven commonly-used criteria that describe a sound investment: security, income, growth, negotiability, leverage, control and tax efficiency.
When asked about the current market and the impact the global economic situation has had on Oyster Property Group and its clients’ investments, Mark says there are both positives and negatives about the current environment. While several cautious investors have chosen to exit the market, a remarkable statistic Mark shares is the fact that Oyster has never failed to re-sell a client’s property share for less than what was paid for it and in many cases for considerably more; testament to the knowledge, acumen and experience Oyster Property Group possess, along with their commitment to creating investments that are as attractive to sell as they are to buy. Most re-sales are snapped up by Oyster’s existing clients or contacts.
Heather and Mark have both been in property for many years; Mark since he left school. “Property’s in my blood; I think I’ll always be involved in it,” he says. The formation of Oyster Property Group was a natural progression to a specialist field; Mark was the first owner of a Bayley’s franchise in New Zealand, and he and Heather began their work in Proportionate Ownership Schemes whilst at Bayleys Waikato. The sale of the Bayleys Waikato franchise and the beginning of Oyster Property Group and Oyster Management Ltd came about in 2004.
Since then, Oyster has gone on to build a group of over 600 clients. The Oyster portfolio is currently valued at over NZD$250m, with gross rentals exceeding NZD$22m per annum. In September this year, Oyster announced the sale of its property management arm Oyster Management Ltd to Prime Retail Management Ltd; a move Mark says will allow him and Heather to further focus their attention on sourcing new properties and servicing their clients.
“We looked hard to find the right company to partner with. Prime Retail Management is a great fit with us, and we believe their specialist expertise and resources will provide even better service for our clients. While Heather and I will stay on as Directors of Oyster Management Ltd, we’re excited about the new opportunities we’ll be able to focus on now.”
Mark and Heather’s genuine passion for real estate is obvious, along with their belief that the Oyster portfolio offers sound investment opportunities to their clients. Mark says, “We sincerely believe in what we do, it’s worth and client benefits. We get to know our clients well; many of them have been with us for a long time, and have invested in numerous different projects with us. We gain an enormous amount of satisfaction from doing the job well for them, and seeing their results.” This passion for what they do, along with their years of experience and knowledge, gives a sense why the Oyster Group has been such a success.