Cromwell - Cromwell Riverpark Trust

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The Cromwell Riverpark Trust (“the Trust”) is a ‘back to basics’, single property syndicate which has the Queensland Government owned corporation Energex Limited as the major tenant.

The Trust is a 7 year investment, distributing 8.75% pa¹ and offering capital growth potential¹ and tax deferred² distributions from the energy efficient Riverpark Building in Brisbane.

enviable market timing

Cromwell secured this asset at a time when most property players were sitting on the sidelines. The acquisition sparked the interest of thousands of investors who have taken up units to share in the opportunity presented by this Trust.

the asset

The Riverpark Building is a 7 storey commercial office/retail building at 33 Breakfast Creek Road, Newstead, just two kilometres from the Brisbane CBD. Located in the 6 hectare master planned Newstead Riverpark, the site forms part of a new inner-city mixed-use community on the banks of the Brisbane River.

93% of the property has been leased to utilities provider Energex Limited until 2025⁴. Energex is one of Australia’s largest and fastest growing electricity suppliers.

Features of the trust

8.75% pa¹ monthly distributions
100% tax deferred² distributions forecast to 30 June 2012
7 year investment term
Sensibly geared with a 55% gearing ratio
Potential for capital growth¹
Simple transparent structure with no capital support of distributions.

Features of the asset

100% of the net lettable area precommitted
Long weighted average lease term
à7 years past the proposed end date of the Trust
Newly constructed asset with impressive green credentials
30,904 sqm net lettable area
State of the art, energy efficient building
àGiven a Six Star Green Star Certified Rating in 2008 under the Green Building Council of Australia’s Green Star – Office Design v2 rating tool

EXPERIENCED FUND MANAGER

Cromwell is an Australian property investment company with a proven track record of developing high quality, high yielding investment products.

With investor returns relying on the continued occupancy and improvement of the portfolio, Cromwell is committed to internal property management for its $1.7 billion assets under management.

Notes

All information relates to A Class Units in the Cromwell Riverpark Trust.

(1) Distributions and capital growth are not guaranteed.
(2) 100% tax deferred distributions forecast to 30.6.12. The proportion of tax deferred distributions 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 Trust.
(3) Based on “as if complete” valuation by Landmark White Brisbane Pty Ltd.
(4) Based on 15 year lease from date of practical completion, estimated at June 2010.
(5) From Practical Completion.

Units in the Cromwell Riverpark Trust (“CRT”) are issued by Cromwell Property Securities Limited (ABN 11 079 147 809, AFSL 238052). Application for units can only be made on an application form from the Product Disclosure Statement (PDS) dated 25 February 2009 which bears a sticker or approved wording confirming that you have received and read the SPDS dated 30 June 2009. This information has been prepared without taking into account your objectives, financial situation or needs. Therefore, in deciding whether to acquire or continue to hold an investment in CRT, you should consider the PDS as amended by the SPDS and assess, with (or without) your financial or taxation advisor, whether the product fits your objectives, financial situation or needs.