Cromwell Property Trust 12
Although the Trust is fully subscribed, it is possible to still gain exposure to it by investing in the Cromwell Direct Property Fund.
Cromwell Property Trust 12
Although the Trust is fully subscribed, it is possible to still gain exposure to it by investing in the Cromwell Direct Property Fund.
As Cromwell’s 12th unlisted Property Trust, Cromwell Property Trust 12 replicates many features of Cromwell’s other unlisted property trusts, including a seven year investment period, innovative construction funding structure and long lease term.
Now in its second term, the Trust is underpinned by a single asset located at 19 George Street in Dandenong, Victoria.
Although the Trust is fully subscribed, it is possible to still gain exposure to it by investing in the Cromwell Direct Property Fund.
Information for existing investors
Cromwell follows ASIC’s good practice guidance for website disclosure of material information. This means that all material information in relation to the Cromwell Property Trust 12 will be posted on this webpage as soon as practicable after Cromwell becomes aware of it.
View tax information for the fund.
Trust snapshot
Cromwell’s 12th unlisted property trust provides exposure to a single asset, located at 19 George Street in Dandenong, VIC.
Distribution
This simple, tax effective investment has a strong monthly distribution, which commenced at 7.75 cents per unit (cpu) pa2 at inception in 2013. The distribution converted to 5.75 cpu pa from 01 July 2021, following sale of the Rand Distribution Centre in December 2020, and increased to 6.00 cpu from 1 July 2022, underpinned by an increase in annual rental income. Commencing July 2023, distributions were increased to 6.25 cpu.
Investments
The Trust was originally underpinned by three properties: an existing building at South Melbourne in Victoria, a distribution facility in South Australia, and a commercial office building at Dandenong in Victoria, which reached practical completion on 1 October 2015. The properties in the initial portfolio were 100% occupied and 96% leased to Government or blue chip tenants, with an average annual minimum rental review of 3.8%.
Benchmark
PCA / MSCI Australia Unlisted Retail Quarterly Property Fund Index (Unfrozen)
Date commenced
October 2013
Trust maturity
October 20253
How to apply
The Fund is now closed to investment however it is possible to still gain exposure by investing in the Cromwell Direct Property Fund. Distribution reinvestment and redemptions from the Fund are not currently available for existing investors.
If you have any questions regarding the Fund, please contact your financial adviser or Cromwell Investor Services directly
Contact us
Jonathan has 20 years’ experience in equity markets and investing. He is responsible for maintaining relationships with Cromwell’s direct retail investors.
Book a meeting with JonathanFootnotes
- Based on current distributions of 6.25 cents per unit p.a. and a current unit price of $0.86 as at 29 February 2024.
- The proportion of distributions that are tax deferred will depend upon a number of factors (for example timing of the issue of units, 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 Trust. The tax deferred component of the distribution will depend on the Trust satisfying various requirements including its ability to utilise tax losses incurred in the start up phase. If the Trust does not satisfy these requirements, the tax deferred component of the distribution could be materially less.
- The initial term of the Trust reached maturity in October 2020, and was extended for a Further Term of 5 years by Unitholder Vote.
- As at 29 February 2024.
Disclaimer
Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (“CFM”) has prepared this webpage and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (“Trust”). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (“PDS”). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services team on 1300 268 078. The Trust is not open for investment. This webpage has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your 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 on this webpage. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.
Please note: Any investment, including an investment in the Trust, is subject to risk. 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. See the PDS for examples of key risks.
Past performance is not indicative of future performance. Forward-looking statements in this webpage are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.