AT A GLANCE
Investment type
Single asset, closed-end unlisted wholesale property fund
Investors
Wholesale and sophisticated investors only
Property
Large format retail centre - Site area 28,000 sqm and Gross Lettable Area (GLA) of 13,032 sqm (site includes 329 at grade car parks)
Property value for the purpose of the offer
$22.8 million – $1.4 million discount to the latest independent valuation of $24.2 million
Major tenant
Home Consortium Group with the rental income guaranteed by Woolworths Limited (ASX:WOW)
Weighted average lease expiry
13.03 years by income as at 31 July 2018
Equity commitment
$13,092,000 ($1.00 per unit)
Investment term
5 years
Distributions
7.80% pa initial forecast yield*
Tax deferral
Distributions will include a tax deferred income component of approximately 90%
Distribution frequency
Monthly
Gearing
43.5% (with 5 year debt facility expiring March 2023)
Day 1 Net Asset Value
$1.05 (based on latest independent valuation)
Liquidity
Withdrawals will not be available during the term of the fund