This Trust was available to wholesale investors and contains a 9,512 sqm Bunnings Warehouse property in Kingston (Tas).
The store was completed last year and Bunnings celebrated the opening in June with AFL legend Robert “Dipper” DiPierdomenico. The store is trading well at the start of it’s 12 year lease.
The final construction management fee of $14.98
million was paid to Bunnings at practical completion. These funds were drawn from bank debt of $11.39 million and the remaining equity of $3.59 million. The debt on this loan has been fully hedged until June 2021.
The Trust is on track to deliver on the forecast return of 7.50% for the year ending 30 June 2017.