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Rebate Offer
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2.0% (66%)
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Minimum Initial Investment
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$10,000
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Expected Close Date
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CLOSED
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Introducing the CorVal Industry House Trust, a simple to understand unlisted property trust that will own a single property asset located in the Canberra CBD. The state of the art Industry House is 99% leased to the AAA rated Commonwealth Government of Australia.
The Trust expects to pay quarterly distributions within 4-6 weeks after the end of each calendar quarter. Distributions will be paid from realised income and are expected to be as follows:
- 8.15% per annum (annualised) for the six month period to 30 June 2010; and
- 8.25% per annum for the financial year to 30 June 2011.
Key Features
- Commonwealth Government leases over 99% of property area.
- Commencing NTA of $0.95 per New Unit.
- Rental growth from fixed annual rent reviews during the Forecast Period.
- Gearing level set at 50% of the building's independent valuation.
- A clearly defined future exit strategy for Investors.
Industry House is a 14 storey commercial office building located in Canberra’s CBD and is close to major retail, hospitality and office developments. Construction was completed in 2006 is the only building in Canberra to have a 5 star NABERS rating for energy and a 4.5 star rating for water. The building's tenancy profile is dominated by two 15-year leases for over 99% of the building tenancy area to the Commonwealth of Australia through until December 2021.
The CorVal Industry House Trust is the first public offering by the recently established CorVal property funds management business. To align their interest with investors, the Investment Manager has elected to take its annual management fee entitlement for the forecast period by way of units in the Trust.
| Fee Disclosure | | 2020 DIRECTINVEST will rebate 2.0% of the 3.0% upfront commission on investments in the CorVal Industry House Trust as additional units. 2020 DIRECTINVEST will retain 1.0% to cover postage & handling, marketing and administration of the fund. No trailing commission is paid on the CorVal Industry House Trust. |
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