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Cromwell Direct Property Fund

Fund Category Property
Minimum Initial Investment $10,000
Expected Close Date Open-ended
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Exposure to each of Cromwell’s unlisted property trusts all in a single fund.

The Fund aims to provide investors with a monthly tax advantaged income stream1 and future capital growth potential2 from a diversified portfolio of quality property assets.  

Cromwell Funds Management (CFM) has selected an initial investment portfolio valued at $26.1 million which provides both yield and diversification through investments in four property trusts managed by CFM, which own, or have contracted to acquire, six properties.  

The Initial Investment Portfolio:

  • Provides exposure to 6 properties across 4 underlying funds
  • 100% weighted average portfolio occupancy
  • 13 years weighted average lease expiry by gross income
  • 96% rent sourced from Government and listed tenants

As the Fund grows, CFM will continue to target a portfolio weighted towards major urban locations, quality tenants, long leases and newer assets with strong after tax returns.


This is a summary only; please refer to the product disclosure statement for full detals
Type of Fund Unlisted property fund
Suggested investment time frame 7 years
Distribution1 Currently 7.0 cents per annum, per unit. Paid monthly
Withdrawals5 Limited monthly withdrawal facility from July 2015 and full withdrawal opportunity in July 2020.


Initial investment portfolio

Portfolio Assets

Underlying fund Asset Allocation

Cromwell Riverpark Trust3

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Energex House, QLD

Cromwell Riverpark Trust


Cromwell Ipswich City Heart Trust3

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Ipswich City Heart Building, QLD4

Cromwell Ipswich City Heart Trust


Cromwell Box Hill Trust3

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ATO Box Hill, VIC4

Cromwell Box Hill Trust


Cromwell Property Trust 123

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ATO Dandenong, VIC4

Cromwell Property Trust 12 - ATO Building Dandenong


Dorcas St South Melbourne, VIC

Cromwell Property Trust 12 - Dorcas Street


Rand Distribution Centre, SA4

Cromwell Property Trust 12 - Rand Distribution Centre

Withdrawal facility

Investors cannot withdraw any part of their investment from the Fund before July 2015. After July 2015, CFM intends to offer a Limited Monthly Withdrawal Facility, generally limited to 0.5% of the Fund’s net asset value per month. At the end of the Initial Term (July 2020) and every 3 years thereafter, CFM intends to offer a full withdrawal opportunity where investors can elect to withdraw all of their investment at a specified price.   


Cromwell Property Group is an internally managed Australian Real Estate Investment Trust and a fund manager with a proven track record of developing high-quality, high-yielding investment products. The Group has over $3.4 billion in assets under management and manages over 30 properties throughout Australia. The Trust's Responsible Entity is Cromwell Funds Management, a wholly owned subsidiary of Cromwell Property Group.


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There are no commissions payable to 2020 DIRECTINVEST on investments in this Fund.

Disclaimers and other important information

Cromwell Funds Management Limited ABN 63 114 782 777, AFSL 333214 (“CFM”) is the responsible entity and issuer of units in the Cromwell Direct Property Fund ARSN 165 011 905 (“the Fund”). Before making any decision to acquire or hold units in the Fund, it is important that you read the product disclosure statement dated 16 August 2013 (“PDS”) which is issued by CFM and is available from or by calling Cromwell Investor Services on 1300 276 693. Applications for units can only be made on the application form accompanying the PDS. This report has been prepared without taking into account any investor’s objectives, financial situation or needs. Before making an investment decision, investors should consider the PDS and assess, with or without a financial adviser, whether the product is appropriate given the investor’s objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this report. If you acquire units in the Fund, CFM will receive fees as disclosed in the PDS.

Risk Disclosure  
Any investment is subject to risk, including an investment in this Fund. Capital growth, distributions and tax consequences cannot be guaranteed. An investment in the Fund is subject to risk and if a risk eventuates it may result in reduced distributions and/or a loss of some or all of the capital value of your investment.  Examples of key risks include: construction risk, property risk, liquidity risk and economic and market risk as set out in Section 4 of the PDS. 

  1. The proportion of distributions that are tax deferred is dependent on a number of factors (for example building amortisation and depreciation of plant and equipment) and may vary from year to year. Deferred tax may be payable, in whole or in part, on the sale, transfer or redemption of units in the Fund. Distributions and tax consequences are not guaranteed and are subject to the assumptions and risks contained in the PDS.
  2. Capital growth is not guaranteed and is subject to the assumptions and risks contained in the PDS.
  3. CFM is the responsible entity of each of the underlying property trusts. Each property trust is closed to new investments. Units will be acquired from Cromwell or pursuant to subscription agreements. For further information, see Section 9.7 of the PDS.
  4. Building is currently under construction. Each asset under construction has a signed agreement for lease over a minimum of 93% of the net lettable area and each lease is due to commence on Practical Completion of the building.
  5. Withdrawals cannot be guaranteed. For further information, see Section 7.4 of the PDS.


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