Fund Performance

The Trust commenced in December 2011 and its performance is benchmarked against the PCA/IPD Australian Pooled Property Fund Index - Unlisted Core Retail Index

As at 31 May 2016. Fund Performance is presented after fees and costs. Past performance is not an indicator of future performance.

This unlisted trust’s asset is the Ipswich City Heart Building completed in November 2013.

The Trust was another single property investment opportunity, and the capital raising was well supported by investors attracted by the monthly distribution yield, the quality of the asset and its strong, long-term lease profile.

The Trust was the first Cromwell-managed fund to be classified by the Cromwell Responsible Investment Series and certified as a Responsible Investment by the Responsible Investment Association of Australasia.

Despite the Trust being closed to new investment, it is possible to still gain exposure to it by investing in  the Cromwell Direct Property Fund.

Properties

  • The Ipswich City Heart Building was acquired from developer Leighton Properties in 2011. The asset forms part of Stage 1 of the $1 billion redevelopment known as ICON Ipswich,located in the Ipswich CBD approximately 39 kilometres south west of the Brisbane GPO.
    Sector Commercial/Retail
    Address 117 Brisbane Street
    Value 100 - 200 million

Investment Strategy

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The Trust replicated many features of Cromwell’s other unlisted property trusts including the seven year investment period, innovative construction funding structure and long lease term.

With low interest rates reducing the returns offered by cash and term deposits, this fund which had commencing distributions of 7.75% pa1, was very well supported by investors. The ‘back to basics’ property Trust commenced in December 2011 and is now paying 9.00% pa1.