News and Announcements
NewActon East Property Fund to Proceed with FY16 Distribution Forecast at 8.25%
- Published April 14, 2015 4:38PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Latest Highlights:
• Fund well received by investors. Expected to close by mid this year
• 8.25% FY16 Forecast Distribution
• Interest rates 100% hedged until 30 September 2019
• Property 100% leased
• Commonwealth Government provides 80% of property income
Placer Property is pleased to announce that the NewActon East Property Fund will proceed with an 8.25% FY16 Forecast Distribution. The increase in the FY16 Forecast Distribution is attributable to both improved property performance and lower interest costs.
Interest rates have been locked in with the financier until 30 September 2019, which provides both certainty and an increase in Forecast Distributions in FY16.
David Omond, Joint Managing Director said, “in our view, the NewActon East Property Fund is one of the most attractive unlisted property investments in the market and it has just got better. The property is 100% leased, with the ACCC providing 80% of the property income. With an 8.25% FY16 Forecast Distribution yield, the fund is very attractive when compared to current low cash rates.”
Placer Property Head of Distribution Shane Dudley said that, “we are pleased with the level of support we have received from both financial advisors and direct investors. Investors have responded positively to the quality of the property which is located in the award winning NewActon precinct of Canberra. We expect that the Fund will be closed to new investors by mid year and potentially even earlier.”
About the NewActon East Property Fund
NewActon East is located at 21-23 Marcus Clarke Street, NewActon, Canberra, and is only three kilometres from Parliament House. NewActon East is a modern mixed-use building comprising retail, offices, 32 residential apartments on the upper levels and 176 car parking spaces. The Fund has acquired the commercial part of NewActon East.
For all enquiries, please contact:
Mario Papaleo
[email protected]
About Placer Property
Placer Property Limited holds an Australian Financial Services License (AFSL 442806) by the Australian Securities and Investment Commission.
As a specialist property fund manager, the primary objective of Placer Property is to facilitate quality property investment opportunities, such as NewActon East Property Fund, for investors seeking regular and reliable income derived from the ownership of commercial property.
Placer Property draws on the skills and knowledge of senior management who are specialists in unlisted property funds management and the extensive experience of its Directors.
Placer Property is focused on Australian property investment opportunities, primarily in the office and retail sectors.
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