Core Property has reviewed and rated the MPG Bulky Goods Retail Trust, an unlisted property trust that invests in large-format retail properties, anchored by well established national tenants, as “Recommended”.
The Trust is managed by MPG Funds Management, which has over $900M of assets under management and was named one of the fastest growing Australian companies in the BRW Fast 100 Awards in 2018 and 2020.
Managing Director, Brett Gorman opened the Trust for investment in April and has been thrilled with the Core Property’s ‘Recommended’ Rating. “It is great to be recognised by Core Property who has awarded the Trust Four Stars for: Asset Quality, Low Gearing, Low Fees and Management Quality.”
The Trust is anchored by two strong performing homemaker centres in Chirnside Park VIC and Mildura VIC. Both Properties are 100% leased to some of Australia’s well known brands such as JB Hi-Fi, Anaconda, The Good Guys, Nick Scali, Fantastic Furniture and Chemist Warehouse to name a few.
Core Property reports, “both properties have delivered exceptional returns over the long term, with the unit price increasing by over 230% since the Trust was established in 2005.”
The Trust is seeking to raise $9.95 million for the purchase of a large format property located in the growing region of Browns Plains, Queensland. This new acquisition will bring the total combined value of the properties in the Trust to $96.79 million.
The Bulky Goods Retail Trust offers strong tax-advantaged income returns which may be attractive for income-seeking investors and also offers the potential for capital growth.
“We are just thrilled to offer this amazing opportunity to invest in one of Australia’s fastest growing retail sectors” added Brett.
This is the third Trust in MPG’s portfolio to receive Core Property’s “Recommended” rating after the MPG Retail Brands Property Trust, which targets quality retail properties, and the MPG Regional Cities Property Trust, which targets essential services tenants, in particular government office properties.