Cromwell Ipswich City Heart Trust
This Trust has been formally wound up in accordance with the Trust's constitution and the law as at 28 February 2022
About the Cromwell Ipswich City Heart Trust
This was the first Cromwell trust to be certified as a Responsible Investment by the Responsible Investment Association of Australia. The Trust owned the highly green credentialed City Heart Building in Ipswich, Queensland.
Cromwell follows ASIC’s good practice guidance for website disclosure of material information. This means that all material information in relation to the Cromwell Ipswich City Heart Trust will be posted on this webpage as soon as practicable after Cromwell becomes aware of it.
With low interest rates reducing the returns offered by cash and term deposits, this fund which had commencing distributions of 7.75 cents per unit (cpu) pa1, was very well supported by investors. The distribution was increased to 11.00 cpu pa at commencement of the Further Term from 1 January 2019.
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.
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.
PCA/IPD Australian Pooled Property Fund Index – Unlisted Core Retail Index
This Trust has been formally wound up in accordance with the Trust’s constitution and the law as at 28 February 2022.
- The initial term of the Trust reached maturity in December 2018, and was extended for a Further Term of 4.5 years by Unitholder vote.
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 the units in, the Cromwell Ipswich City Heart Trust ARSN 154 498 923 (“Trust”). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 16 December 2011 (“PDS”). The PDS is issued by CFM and is available from www.cromwell.com.au/ich 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 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 an/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.