This Trust was available to wholesale investors and contains a 14,228 sqm Bunnings Warehouse property in Bundamba (Qld).
The store was opened in May 2016 by, aptly, former apprentice carpenter turned rugby league legend, Darren Lockyer.
Given the yield compression based on sales of recent Bunnings properties, the asset was independently valued and increased by $4.83 million to $37.25 million. Following this revaluation the net tangible asset backing was increased by $0.30 per unit or 33.70% from $0.92 to $1.22 per unit. This is an outstanding result.
The trust is on track to deliver on the forecast return of 7.50% for the year ending 30 June 2017.