/Why us

Our value add investment principles help you get ahead.

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Having been involved in all sectors of commercial property for themselves, founders Carl Burling and Jack Revill were convinced of the value of industrial property and began to teach everyday Kiwis the fundamentals of how to invest.


They inspired investors to enter the world of industrial property. But through lack of time and financial scale many of them struggled to get the start they needed. That’s when Carl and Jack came across 38 Richard Pearse Drive in Auckland, a property that had all the markings of an investment success, but sat overlooked. With their expertise, enthusiasm and skills for building relationships, they quickly turned this property into a valuable asset. This property started the fund, and Provincia was born.

Provincia has grown to a portfolio of 13 properties with 23 diversified tenants in just 5 years. This growth and clear strategic vision, has attracted a strong team of experts and investors onto the board. Provincia is chaired by Michael Webster who was an early investor in Provincia and is now the the largest shareholder. Directors Malcolm McDougall, Jensen Varghese and Mark Otten provide extensive property and financial expertise whilst also holding shares in the fund.

Provincia and it’s investors welcome you to join them on their journey of unlocking potential.

After working in property for over 20 years, I am passionate about helping people invest in industrial property.

CEO / Co Founder / Investor

Why invest with Provincia?


Industrial Property Investment Expertise

With Provincia, you’re dealing with experts who understand the nuances of industrial property and are experienced in both investment and management of this asset class. Provincia often see value where others can’t.


Principles that realise undervalued potential

Provincia works harder to stay ahead of the market and other property investment companies, by seeking out opportunities to transform undervalued potential into highly sought after property. Our clear investment principles create value through building improvements, lease improvements and securing better tenants.


A Single Diversified Fund

We are a single industrial fund that provides full diversification through a range of New Zealand industrial tenants. When you invest in the fund you invest in all the properties. Provincia’s team also personally invests with you, which is proof of their commitment and aligns incentives.



Provincia was designed to solve a need for a group of investors who were struggling to realise their investment potential but had a specific interest in industrial property. As it grows, Provincia continues to be committed to delivering for its investors first.

Why Invest In Industrial Property?

Industrial property has been the highest performing commercial property class over the last 15 years in New Zealand, out-performing the returns of the Office and Retail sectors*. This consistency and Provincia’s track record in delivering industrial property returns means we can provide a strong reliable return. Without the volatility of other investment classes, industrial property is an attractive investment option.

*Source: Morgan Stanley Capital Index (MSCI) – as at December  2020.


Our Team

Profile of Carl Burling

CEO/Co Founder/Investor

Carl has been self-employed in the property sector for over 20 years working as an advisor, property developer, investor and fund manager. Carl co-founded Provincia in 2017 with Jack Revill which has grown successfully to the value of $94.4 million and delivered average total returns of 13.9% (2019 - 2021). Carl is a qualified electrical and electronics engineer and is a shareholder in the Fund and the Manager.

Profile of Jack Revill

Asset Manager /Co Founder/Investor

Jack co-founded Provincia in 2017 and has been an integral part of its success. He worked with Carl in the property management sector whilst completing a Bachelor of Property Degree at Auckland University. Jack currently manages the Fund’s portfolio, sources new properties and controls the due diligence of acquisitions. Jack is a shareholder in the Fund and the Manager.

Profile of Michael Webster


Michael was a very early Provincia investor and is now our major shareholder. He has been a real estate investor for over 20 years, and also trades US equities and options for a privately-owned hedge fund. Through his software company he has helped build global technology companies such as Nutanix (Nasdaq: NTNX) and helped the New Zealand Government implement Kiwisaver.

Profile of Malcolm McDougall


Malcolm has extensive experience in senior governance roles and was a founding director of the listed company Property For Industry. Malcolm has co-founded a number of other investment businesses including Willis Bond & Co in 1988, Pencarrow Private Equity in 1993, McDougall Reidy & Co in 2007 and Direct Property Fund in 2008. Malcolm is a director and shareholder in both the Fund and the Manager.

Profile of Jenson Varghese


Jenson is Managing Director at MRCagney, a specialist sustainable transport consultancy. He is responsible for leading a multi-disciplinary team of urban planners, urban designers, transport and public transport specialists. Jenson has significant governance skills, and experience as a director, board member and a manager. This includes being a director of MRCagney, a former board member of ACE New Zealand. He is a shareholder in the fund and was one of the foundation investors of Provincia.


Mark is a very experienced global CFO, he has worked internationally for Ralph Lauren before moving to New Zealand and working for The Warehouse and Ezibuy. Over the last 8 years he has been an Advisory Director at DBVisit before becoming CEO 5 years ago. Mark is an investor in Provincia and was elected to the board at the 2023 AGM.

Profile of Duncan Shand

Advisory Director - Marketing

Duncan recently joined the Provincia team as an advisor to the Board with a focus on driving investor growth. Duncan has a background in corporate marketing working at Air New Zealand and iHug before he started YoungShand. Duncan is passionate about growing New Zealand businesses by building strong brands and using smart digital technology.

Profile of Roger Hatrick-Smith

Contract CFO/Investor

Roger established VCFO which is contracted to Provincia to provide accounting and financial management services. VCFO is a specialist business and financial advisory firm, and a member firm of Chartered Accountants Australia New Zealand. Roger was a partner in Ernst & Young prior to establishing VCFO. Roger is a shareholder in the Fund.

Get started in industrial property today

If you’re ready to see how industrial property investments could work for you, get in touch today.

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© Provincia Property 2024
Fund Management LTD

Privacy & Disclosure

WARNING: Provincia is a wholesale investment opportunity only. Prospective investors should be aware that any capital raise offer is not open to the public. It is only open to Wholesale Investors as defined in Clause 3 of Schedule 1 of the Financial Markets Conduct Act 2013 (The Act). Further information is in the current Investment Statement.

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