This Trust was available to wholesale investors and contains a 17,167 sqm Bunnings Warehouse in Blacktown (NSW) and a 18,252 sqm Bunnings Warehouse in Bundaberg (Qld).
Leases on both properties are secured until 2026.
Following recent independent valuations the Bunnings Blacktown’s value increased $5.4 million to $39.70 million. Bunnings Bundaberg value increased by $4.9 million to $33.65 million.
As a result of these increases the net tangible asset value per unit increased 33% from $0.91 to $1.21 per unit.
Overall the cash distribution return for the year ended 30 June 2016 was 7.50% which exceeded the forecast return of 7.40% in the Information Memorandum which is a great result.
The Trust is on track for an increased return of 7.65% for the year ending 30 June 2017.