This Trust contains two Homemaker Centres, one in Chirnside Park (Vic) and the other in Mildura (Vic).
At the 13,753 sqm Chirnside Homemaker Centre prominent tenants include JB Hi-Fi, Amart Sports, Forty Winks and Pet Barn. Electrical retailer The Good Guys assumed the tenancy left by Furniture Galore, and signed a 7 year lease before they began trading last July.
At the 17,323 sqm Mildura Homemaker Centre, Nick Scali vacated their tenancy last year. Vacancies have been filled by Amart Sports, Carpet Court and the Salvos. The current mix of retailers is drawing strong interest and we are confident of filling most of the 3,806 sqm vacant space
in the next few months.
Bank debt for the Trust was recently rolled over for another 5 year term at more favourable rates than the existing agreement.
The properties in the Trust are 88% occupied with a 3.7 year weighted average lease expiry.
Due to a strong recent independent evaluation of the Chirnside Homemaker Centre, the net tangible asset backing of the Trust has risen from $0.98 (as at 30 June 2016) to $1.13 (as at 31 December 2016).
The Trust is forecast to deliver a quarterly distribution at the pro-rata rate of 8.00 cents per unit pa for the year ending 30 June 2017.
