Stirling Junction Fair Shopping Centre Fund

Categories Funds, Managed
Sale Type Asking Price
Price Guide AUD Raising $24.8M @ $1.00 per unit - Valuation $47.0 Million.
Status: Closed

Summary:

Class A preference units are forecast to receive a total return of 15.7% equating to a Gross Tax effective return of 22% for investors in the highest tax bracket, and a healthy net average cash distribution of 9.1% p.a. Class A preference units receive 100% of all income, are repaid 100% of equity back first, and earn 12% preferred return prior to repayment of our capital.

Junction Fair Shopping Centre is a dominant neighbourhood shopping centre, anchored by Coles supermarket providing 50% of the Property’s income and an occupancy rate over 99%.

Demonstrating the truly non-discretionary nature of the centre, wealthy demographic and dominant position in the catchment, Junction Fair recorded its highest monthly turnover in the past two years in March (up 14% yoy) against discretionary weighted centres which were down 11.4% on average. In April, 90% of tenants in Junction Fair remained open versus discretionary weighted centres with just 37% of tenants open.

Highlighting the strength of this opportunity, an investment in Class A units represents a 31% discount to the average yield for comparable transactions (7.6% vs 5.7%).

Core Property, specialising in independent fund research, has provided a “Recommendation” rating on the Fund which “Indicates that the product has an above average grade profile across a number of Core Property’s parameters and has the potential to deliver above average risk adjusted total returns.

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