This Trust contains a diversified portfolio of nine quality retail properties tenanted by some of Australia’s best known retail brands.
Taking the Trust to nine was the purchase of Coles Moss Vale (NSW) for $9.45 million in December 2016. The property includes a 2,500sqm freestanding Coles supermarket, which is the only full line supermarket servicing the catchment. It is situated on a 7,199 sqm strata title site, and is leased to Coles until 2025.
In Warnambool (Vic), Rays Outdoors converted into Amart Sports, both owned by ASX listed Super Retail Group, which has seen an increase in visitation. In the same centre, Bunnings secured a five year option on their lease.
Following 2015’s 26.3% increase in the net tangible asset backing, 2016 has seen further strong results increasing 18% from $0.72 to $0.85.
The properties in the Trust are 98% occupied with a 6.7 weighted average lease expiry and its expected to exceed its forecast 6.00 cent per unit distribution target for the year ending 30 June 2017. Distributions are due to increase to 7.25 cents per unit from 31 March.
