This is an eight level office building located in a prime position on Melbourne’s premier boulevard. The property was acquired in 2012 as it represented an opportunity to buy a building at below replacement cost in an excellent location and one that had been substantially refurbished. This was vindicated with an impressive $20 million capital growth on this prime office asset five years later with the sale in October 2017 to a Hong Kong based investor for $42 million.
Investors achieved a syndicated life internal rate of return of 18.36%
This fund initially consisted of two industrial properties located in Sydney NSW. These single tenant properties, acquired during late 2014 and early 2015, were put into the same fund, enabling each tenant to contribute to the running costs of both properties, service the bank facilities and ensure consistency of investment returns to investors.
In June 2018 the Fund took advantage of the strong Sydney property market and divested 20 Williamson Road, Ingleburn, leaving the sole property, 159-163 Newton Road, Wetherill in the Fund.
The sale of 20 Williamson Road, Ingleburn netted a profit of $10.26 million to the Fund which is reflected in the 21.37% IRR to investors.