News and Announcements
Launch of New Fund and Debt Facilities from APN Property
- Published November 20, 2015 11:21AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
19th November 2015, ASX Announcement
APN Property Group Limited (APN) announced today the launch of the APN Convenience Retail Property Fund (the Fund), the Group’ latest unlisted direct property fund.
Forecast to deliver a sustainable distribution yield of 7.20% pa (paid monthly), the Fund’s income is backed by secure long term leases (15 year weighted average lease expiry) to some of Australia’s leading convince retailers including Shell/Viva Energy, Hungry Jack’s, Subway and Masters Home Improvement (guaranteed by Woolworths Limited). The properties, located in Spring Hill, Brisbane and South Nowra, New South Wales, have been acquired under guaranteed delivery contract agreements and are situated in attractive customer demographic and forecast population griwth areas.
To read the full announcement, please click here.