Continuous Disclosure & Updates - Cromwell Funds Management
Cromwell Funds Management 19 George Street building

Continuous Disclosure and Updates

Cromwell Property Trust 12

Continuous Disclosure and Updates

Cromwell Property Trust 12

Continuous Disclosure and Updates

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.

An external valuation of 19 George Street, Dandenong has been obtained as at 31 December 2023.

The valuation of the property has decreased to $100 million, as a result of the capitalisation rate softening to 6.00%. This is a 9.9% decrease from the 30 June 2023 valuation of $111 million.

The asset remains 99.3% occupied, with a weighted average lease expiry of 6.5 years, and continues to perform for unitholders.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 30 June 2023 has resulted in an updated valuation of $111 million. This is a 10.5% decrease from the 30 September 2022 valuation of $124 million, with the capitalisation rate softening from 4.88% to 5.50%.

The asset remains 99.9% occupied, with a weighted average lease expiry of 7 years, and continues to perform for unitholders.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) to 6.25 cpu from 1 July 2023, with July’s distribution at the increased rate due to be paid on or around 9 August 2023.

Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.
Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

An external valuation of the 19 George Street, Dandenong asset as at 30 September 2022 has held at the current value of $124 million.

The asset continues to perform for unit holders.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) to 6.00 cpu from 1 July 2022, with July’s distribution at the increased rate due to be paid on or around 9 August 2022.

Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 31 October 2021 has provided good news for the Cromwell Property Trust 12 unitholders: a 16% increase in the value of the asset to $124 million, up from $107 million as at 31 October 2020.

The increase was underpinned by an increase in rental income and a reduction in the capitalisation rate.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) announces that distributions for the Cromwell Property Trust 12 (Trust) will change to 5.75 cents per unit (cpu) from 1 July 2021 (payable August 2021).

The new rate of 5.75 cpu payable in the 2022 financial year was outlined in the Forecast Distribution Statement disclosed in Section 8.3 of the Notice of Meeting and Explanatory Memorandum dated 13 November 2020.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) has successfully entered into an interest rate cap arrangement in relation to the Cromwell Property Trust 12, at a strike price of 0.689%, versus the current 3 month BBSY (floating rate).  The interest rate cap provides protection against future increases in interest rates above 0.689% per annum, whilst giving unitholders the benefit of current low interest rates.

The new bank facility entered into on 24 February 2021 (see Continuous Disclosure Notice dated 4 March 2021 for further information) and the strike price of the interest rate cap, reduces the maximum interest rate payable by the Trust by 0.17% per annum, as compared to the rate forecast in the Notice of Meeting and Explanatory Memorandum, whilst providing material benefits whilst interest rates remain below 0.689%.

The interest rate cap cost $1 million, taking the Trust’s total debt to $38 million, considered to be an immaterial increase in the LVR from 34.5% to 35.5%.

The interest rate cap’s expiry aligns with the loan facility expiry date of February 2026, which is beyond the October 2025 maturity date for the Trust’s second Term. The facility is fully drawn.

Management and directors of CFM considered this the best option and in Unitholders’ best interests.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) has successfully finalised a new $37 million debt facility (Facility) for the Cromwell Property Trust 12 (Trust) with an Australian bank, replacing the Trust’s existing $41 million debt facility. The new Facility has an expiry date of February 2026, which is beyond the October 2025 maturity date for the Trust’s second Term. The Facility is fully drawn.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Property Trust 12 (Trust) unitholders have voted to approve both resolutions required to implement the Rollover Proposal, as detailed in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020*.

A successful ‘For’ vote on Resolution 1 extends the Trust Term by five years, until 31 October 2025.

In addition, a successful ‘For’ vote on Resolution 2 results in the approval of the proposed amendments to the Trust’s Constitution by way of a Supplemental Deed.

The result of the vote at the meeting is as follows:

Resolution 1 – Further Term Resolution (Extraordinary Resolution)

  • 53,863,533 votes in total were cast, the equivalent of 84.18% of the total votes that may have been cast by Trust unitholders eligible to vote on the resolution.
  • 52,993,533 units (612 unitholders) voted in favour of Resolution 1 (For), representing 82.82% of the total votes that may have been cast by eligible unitholders (thus exceeding the required 50%).
  • 870,000 units (22 unitholders) voted against Resolution 1 (Against), representing 1.36% of the total votes that may have been cast by eligible unitholders.
  • 50,000 units (2 unitholders) abstained from voting on Resolution 1.

Resolution 2 – Constitutional Amendment Resolution (Special Resolution)

  • 53,803,533 votes in total were cast.
  • 53,033,533 units (615 unitholders) voted in favour of Resolution 2 (For), representing 98.57% of the total votes cast by eligible unitholders (thus exceeding the required 75%).
  • 770,000 units (17 unitholders) voted against Resolution 2 (Against), representing 1.43% of the total votes cast by eligible unitholders.
  • 110,000 units (4 unitholders) abstained from voting on Resolution 2.

As a result, the successful ‘For’ vote on Resolution 2 effectively sets in motion the Matching Facility, allowing unitholders that nominated to either buy or sell units to do so (subject to scale back).

CFM has now begun the process of reconciling the purchase and sale of units for those unitholders who elected to participate in the Matching Facility. The results of the scale back will be available on this webpage on completion of the reconciliation (expected on or around 23 December 20201), and excess funds for any scale back will be returned via unitholder distribution accounts on the same day.

For unitholders that elected to sell all or part of their units, settlement – including transfer of funds and units, is due to occur on 8 January 20211. In addition, all new unit purchases will also be allocated to purchasing unitholders’ existing balances on the same day.

A summary of key dates for the implementation of the Rollover Proposal are as follows1:

Event Date
Allocations for buying Unitholders determined / potential scale-back for selling Unitholders determined Friday 18 December 2020 – Wednesday 23 December 2020
Unitholders notified of Matching Facility scale-back and over-subscription monies refunded (if applicable) On or around Wednesday 23 December 2020
Settlement date for the Matching Facility / Transfer Date of Units / Transaction Statements posted Friday 8 January 2021
The Further Term commences (if approved by Unitholders) Sunday 1 November 2020

Cromwell Funds Management would like to thank all Unitholders for participating in the vote and looks forward to providing ongoing management and investor services throughout the Further Term.

Contact Us

If you have any questions in relation to the vote or your resulting unit balance, please contact Cromwell’s Investor Services Team on 1300 268 078.

 

1. All dates following the Meeting are indicative only. CFM reserves the right to vary these dates without prior notice although CFM will endeavour to achieve these dates. Any changes to the above dates will be announced at www.cromwell.com.au/c12.

*Refer to the Notice of Meeting and Explanatory Memorandum dated 13 November 2020 for further details. To view the Notice of Meeting and Explanatory Memorandum, please click here.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

As responsible entity of the Cromwell Property Trust 12 (Trust), Cromwell Funds Management Limited (CFM) wishes to advise an amendment to the closing date and time for receipt of both Buy and Sell Forms and application monies for the Trust’s Matching Facility.

Originally closing on Thursday 17 December 2020 as outlined in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020, the closing time and date for receipt of both Buy and Sell Forms and application monies for the Trust’s Matching Facility is now amended to 5pm (AEST) on Friday 18 December 2020.

The timetable is now as follows1

Event Date
Last date and time for receipt of Proxy Forms 1pm (AEST) on Tuesday 15 December 2020
Payment of Special Distribution from Rand Sale2 Wednesday 16 December 2020
Meeting of Unitholders 1pm (AEST) on Thursday 17 December 2020
Last date and time to lodge the Buy Form and the Sell Form with accompanying funds to apply to purchase/sell Units 5pm (AEST) on Friday 18 December 2020
Announcement of voting results on www.cromwell.com.au/c12vote 5pm (AEST) on Friday 18 December 2020
Allocations for buying Unitholders determined / potential scale-back for selling Unitholders determined Friday 18 December 2020 – Wednesday 23 December 2020
Unitholders notified of Matching Facility scale-back and over-subscription monies refunded (if applicable) Friday 18 December 2020 – Wednesday 23 December 2020
Settlement date / Transfer Date of Units / Transaction Statements posted Friday 8 January 2021
The Further Term commences (if approved by Unitholders) Sunday 1 November 2020

1.  All dates following the date of the Meeting are indicative only and are subject to satisfaction of the conditions precedent to the implementation of the Rollover Proposal (see Section 5.5 on page 13 of the Notice of Meeting and Explanatory Memorandum dated 13 November 2020). CFM reserves the right to vary these dates without prior notice. Any changes to the above timetable will be announced at www.cromwell.com.au/c12vote.

2.  Date is indicative only and requires the settlement to occur as forecast on the 14th of December 2020.

Establishment of the Matching Facility is conditional on Unitholder approval of the Rollover Proposal as outlined in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020.

Further information about the Trust, the Rollover Proposal and the Matching Facility also be found on the dedicated Meeting web page at www.cromwell.com.au/c12vote.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

On 13 November 2020 Cromwell Funds Management (CFM) provided all Unitholders in the Cromwell Property Trust 12 (Trust) with a proposal to extend the Trust (Rollover Proposal). As part of the Rollover Proposal, an external valuation of the 19 George Street, Dandenong asset as at 31 October 2020 has provided good news for Trust unitholders: a 7% increase in the value of the asset to $107 million, up from $100 million as at 30 June 2020.

The provisional net tangible asset value (NTA) of the Trust increased to $1.57 at 31 October 2020, up from $1.40 per unit at 30 June 2020 as a result of the revaluation of the 19 George Street, Dandenong asset and incorporation of the net sale price of the Rand Distribution Centre.

Further information about the Rollover Proposal can be found in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020 or at www.cromwell.com.au/c12vote.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Following on from the sale campaign for the Rand Distribution Centre, located in Direk, South Australia, Cromwell Funds Management Limited (CFM) has signed a contract for the sale of the property, for a sum of $63,050,000. The price achieved is an exceptional result given the property was last independently valued at $53,000,000 in September 2019.  The asset was acquired in 2013 with an ‘as if complete’ value of $32,750,000.

Prior to the end of the Trust term, CFM intends to put a proposal to unitholders to retain the asset at 19 George Street, Dandenong, which accommodates the Australian Taxation Office, and to extend the Trust term. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

CFM expects to make a special distribution of sale proceeds of the Rand Distribution Centre following settlement. Details of the distribution will be provided within the Notice of Meeting and Explanatory Memorandum detailing the vote and proposed Trust term extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) has successfully negotiated an extension of the existing Cromwell Property Trust 12 (Trust) bank loan in anticipation of the potential sale of the Rand Distribution Centre and upcoming maturity of the Trust in October 2020.

The bank loan was due to expire on 30 September 2020.

The varied facility now includes an initial 12-month term (with no early repayment fee in the first 12 months), with an option to extend the facility for a further four years. The structure provides security of tenure with flexible options to the Trust without incurring the upfront establishment costs of a 5-year facility. Extension of the loan would only be enacted if unitholders decided to extend the term of the Trust beyond maturity in October 2020.

CFM expects to put a proposal to unitholders to retain the asset at 19 George Street, Dandenong, which accommodates the Australian Taxation Office, and to extend the Trust term following completion of the marketing campaign for the Rand Distribution Centre which is currently underway. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management (CFM) has commenced marketing for sale the Rand Distribution Centre, located in Direk, South Australia. The asset is one of the two remaining assets held by the Cromwell Property Trust 12 (Trust). Completed in December 2013, the asset was extended in December 2015, triggering a new 20-year lease. The acquisition price of the asset was $32,750,000. The asset is currently held within the Trust at a valuation of $53,000,000, as at the last external valuation in September 2019.

Marketing of the asset will commence shortly via a comprehensive campaign with settlement not taking place prior to the end of the Trust term in October 2020.

Following the completion of the marketing campaign for the Rand Distribution Centre, CFM expects to  put a proposal to unitholders to retain the 19 George Street, Dandenong asset, which accommodates the Australian Taxation Office, and to extend the Trust term for a further term. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

An external valuation of the 19 George Street, Dandenong asset, VIC as at 30 June 2020 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 2.6% increase in the value of the asset to $100 million, up from $97.5 million as at 07 April.

The increase in value was underpinned by an advancement in the COVID-19 rental relief negotiations. The increase restores the asset value to its pre-COVID-19 level.

The value of the Rand Distribution Centre, located in Direk, SA, remains unchanged at $53 million, as at 30 September 2019.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.40 at 30 June 2020, up from $1.38 per unit at 7 April 2020, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) from 1 July 2020.

The increase takes the distribution to 9.25% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management COVID-19 Asset Valuations Update

COVID-19 continues to be an unprecedented global event and Cromwell recognises the urgent nature of the emergency, our responsibility to help ‘flatten the curve’ and contribute to the ensuing recovery in all the countries, cities and communities in which we operate.

Cromwell CEO, Paul Weightman, has stated, “We are conscious that we have a wide range of stakeholders including employees, securityholders, tenants, suppliers, contractors and service providers impacted by COVID-19.”

“We will act in a responsible way that balances the interests of all stakeholders and to ensure that the impact of the pandemic is not borne unfairly by any one particular group,” he added.

Cromwell Funds Management Unlisted Property Funds

Cromwell Funds Management (CFM) understands that many investors are concerned about the impact the COVID-19 crisis might have on their investment balance in one of CFM’s unlisted property funds.

Unlike listed markets which provide transparent, albeit often volatile pricing, assessing the valuation of unlisted assets is more difficult at a time when there is little transactional activity to allow for the benchmarking, and then valuing, of an asset. It is clear, however, that property and other asset types have been adversely affected by the crisis.

CFM has a fiduciary duty to ensure that all investors in the funds, those applying for new units and those redeeming their units are treated equitably.

CFM has therefore quantified the valuation impact on a tenant by tenant basis based off current information. As a result, the valuations of directly held property assets within the Cromwell Direct Property Fund, Cromwell Riverpark Trust, Cromwell Ipswich City Heart Trust and Cromwell Property Trust 12 have been devalued by 5.9%, 1.4%, 2.4% and 1.6% respectively.

The revaluations have now been included in each Fund’s unit pricing and are consistent with many superannuation funds   and unlisted property fund managers who have reduced valuations of unlisted property and infrastructure assets in a range of 7% to 10%.

Based on information currently available there is no change to forecast distributions across the Funds and the Cromwell Direct Property Fund remains open for investment.

CFM will continue to monitor the property investment market closely to ensure the pricing of our unlisted assets remains appropriate and that all investors are treated equitably.

If you have any questions or would like to speak to someone about your investment, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre, located in Direk, SA as at 30 September 2019 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.9% increase in the value of the asset to $53 million, up from $52 million as at 31 March 2019.

The increase in value was underpinned by increased rental.

The Trust also benefited from an external valuation of the 19 George Street, Dandenong asset, VIC as at 30 September 2019: a 5.0% increase in the value of the asset to $100 million, up from $95.2 million as at 30 September 2018.

The increase in value was underpinned by a reduction in the capitalisation rate.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.40 at 30 September 2019, up from $1.34 per unit at 31 March 2019, as a result of the revaluations.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) from 1 July 2019.

The increase takes the distribution to 9.0% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre, located in Direk, SA as at 31 March 2019 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 4.5% increase in the value of the asset to $52 million, up from $49.75 million as at 31 December 2018.

The increase in value is underpinned by a reduction in the capitalisation rate.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.35 at 31 March 2019, up from $1.33 per unit at 31 December 2018, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An internal valuation of the Rand Distribution Centre, located in Direk, SA as at 31 December 2018 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.5% increase in the value of the asset to $49.75 million, up from $49 million as at 31 March 2018.

The increase in value was underpinned by increased rental.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.33 at 31 December 2018, up from $1.32 per unit at 30 September 2018, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 30 September 2018 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.3% increase in the value of the asset to $95.2 million, up from $94 million as at 30 September 2017.

The increase in value was underpinned by a reduction in the capitalisation rate, an increase in passing rent, but a softer market rent adopted by the valuer

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.32 at 30 September 2018, up from $1.31 per unit at 30 June 2018, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) from July 2018.

The increase takes the distribution to 8.75% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre, Direk, SA asset as at 31 March 2018 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 6.5% increase in the value of the asset to $49 million, up from the valuation of $46 million as at 31 March 2017.

The increase in value was underpinned by a decrease in the capitalisation rate.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.32 at 31 March 2018, up from $1.28 per unit at 31 December 2017 as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 30 September 2017 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.1% increase in the value of the asset to $94.0 million, up from $93 million as at 30 June 2017.

The increase in value was underpinned by an increase in passing rent.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.28 at 30 September 2017, up from $1.27 per unit at 30 June 2017 as a result of the revaluation.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

View full update here.

Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Property Trust 12 (“Trust”) have been increased by 0.25 cents per unit (“cpu”) from July 2017.

The increase takes the distribution to 8.50% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.
CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Property Trust 12 (“Trust”) have been increased by 0.25 cents per unit (“cpu”) from July 2017.

The increase takes the distribution to 8.50% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.
CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre as at 31 March 2017 has provided good news for Cromwell Property Trust 12 (“Trust”) unitholders: a 6.5% increase in the value of the asset to $46 million, up from $43.2 million as at 31 December 2016.

The increase in value was underpinned by a 0.5% reduction in the capitalisation rate from 7.5% to 7.0%

The provisional net tangible asset value (“NTA”) of the Trust has increased from $1.26 per unit to $1.27 per unit at 31 March 2017 as a net result of the revaluation.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Further to our announcement of 16 March 2017, Cromwell Funds Management Limited (ABN 63 114 782 777) (“CFM”) as the responsible entity of Cromwell Property Trust 12 (ARSN 166 216 995) (“C12”) did not receive a request from unit holders (holding at least 5% of the votes that may be cast on the resolution) to call and arrange to hold a meeting of unit holders of C12 to consider and vote on a special resolution to amend the constitution of C12 on the terms described in that announcement.

Accordingly, CFM as the responsible entity of C12 executed and lodged the supplemental deed with the Australian Securities and Investments Commission on 27 March 2017 to give effect to the amendments.

The amendments will enable C12 to apply the new income tax regime for managed investment trusts that was recently enacted under the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (Cth). The amendments to the constitution of C12 are being made in accordance with the requirements of notional subsection 601GCA(3) of the Corporations Act 2001 (Cth), as modified by ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

PROPOSED CONSTITUTION AMENDMENTS TO FACILITATE ADOPTION OF THE ATTRIBUTION MANAGED INVESTMENT TRUST (AMIT) REGIME
NOTICE PURSUANT TO SECTION601GCA OF THE CORPORATIONS ACT

Cromwell Property Trust 12 (ARSN 166 216 995) (“Trust”) is eligible to be an Attribution Managed Investment Trust (“AMIT”) and to apply the new income tax regime for managed investment trusts that was recently enacted under the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (Cth)(“AMIT regime”).  The key feature under the AMIT regime is unit holders are taxed on income from the Trust attributed to them by Cromwell Funds Management Limited (“CFM”) (ABN 63 114 782 777) on a fair and reasonable basis.  Under the current taxation rules under Division 6 of the Income Tax Assessment Act 1936 (Cth) unit holders who are presently entitled to trust income are subject to income tax on their proportionate share of the taxable income of the Trust.  The potential benefits of adopting the AMIT regime are outlined further below.  An election by CFM for the Trust to be an AMIT is irrevocable.

As the responsible entity of the Trust, CFM is yet to decide whether the Trust should elect into the new AMIT regime.  CFM has published this notice under notional subsection 601GCA(3) of the Corporations Act 2001 (Cth) as modified by ASIC Corporations (Attribution Managed Investments Trust) Instrument 2016/489 to inform unit holders of proposed modifications amendments to be made to the Constitution of the Trust (“Constitution”) to allow the Trust to operate under the AMIT regime if an election is made.  CFM will decide whether to elect into the AMIT regime based on the best interests of the unit holders as a whole.  If an election is made, the Trust will inform unit holders accordingly.

A summary of the effect of the proposed modifications to the Constitution is set out below.

Reasons for proposed amendments to the Constitution

If implemented, the proposed amendments would allow CFM to choose to adopt the AMIT regime to the Trust.  CFM believes the potential benefits of operating under the AMIT regime include:

  • Greater certainty associated with the AMIT regime’s attribution of taxable income to unit holders compared to the current “present entitlement” tax regime.
  • Greater certainty as to the tax status of the Trust and its entitlement to certain tax concessions including deemed “fixed trust” status for tax purposes.
  • Reduced potential for double taxation by allowing for cost base adjustments where distributions are less than the taxable income assessed to the unit holder.
  • Preservation of the character of the income for income tax purposes in the hands of the unit holder.
  • Provision of the ability to reconcile “under” and “over” estimations of net income of the Trust to allow adjustments in the year they are discovered rather than the approach under the current law that requires amendments to unit holders previously lodged income tax returns.

As the AMIT regime has only recently been enacted, there may be some uncertainty regarding certain aspects of the AMIT regimes operation in the initial years.

How to contact us if you wish to respond to this notice

CFM will proceed to modify the Constitution as proposed on or after the date which is 7 days from the date of this notice unless it receives requisitions to call and arrange a meeting of unit holders of the Trust to consider and vote on a special resolution to modify the Constitution as proposed from unit holders with at least 5% of the votes that may be cast on the resolution.

Unit holders are not required to respond to this notice, but should a unit holder wish to request a meeting of unit holders of the Trust to vote on the amendments to the Constitution as proposed in this notice, the unit holder must send a request to CFM by 5pm (AEST) on Friday, 24 March 2017.  A written request may be sent by email to invest@cromwell.com.au.

CFM will modify the Constitution by executing a supplemental deed to the Constitution and lodging it with the Australian Securities and Investments Commission, unless a meeting of unit holders is requested by unit holders with at least 5% of the votes that may be cast on the resolution to call and arrange to hold a meeting by 5pm (AEST) on Friday, 24 March 2017.

Effect of amendments to the Constitution

Set out below is a summary of the effect of the proposed modifications to the Constitution.  CFM as responsible entity of the Trust reasonably considers that the modifications are necessary for or incidental to the Trust being able to be operated in a manner permitted by the AMIT regime as an attribution managed investment trust with CFM as its trustee.

 

Summary of Amendments to the Constitution of Cromwell Property Trust 12

Powers in relation to AMIT A new clause 17.6 will be inserted in the Constitution to ensure the Responsible Entity has all powers necessary to adopt into the AMIT regime including doing all things necessary to give effect to the proposed clause 33A.
Recoveries – Holders’ liabilities A new paragraph (e) will be inserted to clause 32.1 to clarify that any fees, Taxes and costs incurred in relation to Attribution Amounts are the liability of each unit holder.
Distributions – Application A new clause 33.1A will be inserted to “switch off” clause 33 when the Trust elects to be an AMIT, in particular it “switches off” the distribution and present entitlement requirements when the Trust is an AMIT. Clause 33 is relevant to Division 6 of the Income Tax Assessment Act 1936 (Cth).
AMIT

A new clause 33A will be inserted which contains the general powers for the Responsible Entity to comply with the new AMIT rules.

Clause 33A.1 provides the Responsible Entity with the discretion to choose to apply the AMIT rules.

Clause 33A.2 determines the period that the Trust is an AMIT.

Clause 33A.3 allows the Responsible Entity to attribute “Attribution Amounts” (as defined) in accordance with the constitution, this is a feature of the new AMIT rules. The definition utilises consistent terminology with the applicable Tax Act (as defined) to allow flexibility to attribute amounts of different character.

Clause 33A.3(b) to (e) provides a discretion for the Responsible Entity to distribute any amount of income or capital of the Trust to unit holders. We have preserved the unit pricing of the fund by requiring that any distribution be made consistent with the entitlement to a distribution in Clause 33.

Clause 33A.3(f) provides that any taxes paid or remitted on behalf of a unit holder are taken to be made for that unit holder.

Clause 33A.3(g) confers specific powers on the Responsible Entity to issue and amend “AMMA Statements” to unit holders.

Clause 33A.3(h) facilitates the exercise of the Responsible Entity’s powers in relation to “unders and overs” as permitted in the AMIT regime.

Clause 33A.3(i) limits the Responsible Entity’s liability to the unit holders in making choices and complying with the AMIT rules.

Unit holder Objections

Proposed clause 33A.4 provides steps to ensure that should a unit holder object to an attribution as afforded under the AMIT regime, the unit holder must give notice and provide information to the Responsible Entity and the unit holder must meet all costs or liabilities incurred by the Responsible Entity associated with the process of acknowledging the objection and assessing the impact on other unit holders.

Further, each unit holder indemnifies the Responsible Entity for any tax payable by the Responsible Entity in complying with the AMIT rules that reasonably relates to the unit holder.

Definitions Incidental amendments will include inserting into clause 1.1 specific definitions relevant for the AMIT regime in clause 1.1. The definitions of these specific terms have been drafted consistently with the Tax Act to preserve the intended flexibility of the legislation.

 

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

 

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An internal valuation of the Rand Distribution Centre as at 31 December 2016 has provided good news for Cromwell Property Trust 12 (“Trust”) unitholders: a 3.6% increase in the value of the asset to $43.2 million, up from $41.7 million as at 30 June 2016.

The increase in value was underpinned by a 3.5% increase in rental income.

The provisional net tangible asset value (NTA) of the Trust (subject to the audit) is forecast to increase to $1.26 per unit at 31 December 2016, up from $1.22 per unit at 30 September 2016 as a result of the revaluation.  The final NTA will be available upon completion of the audit (expected to be late February 2017).

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the ATO Dandenong building as at 30 September 2016 has provided good news for Cromwell Property Trust 12 (“Trust”) unitholders: a 6.3% increase in the value of the asset to $92.5 million, up from the valuation of $87 million as at 30 September 2015.

The increase in value was underpinned by a 3.75% increase in rental income and a 0.75% reduction in the discount rate.

The provisional net tangible asset value (“NTA”) of the Trust has increased from $1.16 per unit to $1.22 per unit at 30 September 2016 as a result of the revaluation.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Property Trust 12 (“Trust”) have been increased by 0.25 cents per unit (“cpu”) from July 2016.

The increase takes the distribution to 8.25% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An internal valuation of the Rand Distribution Centre as at 31 December 2015 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 4.0% increase in the value of the asset to $41.7 million, up from $40.1 million as at 18 September 2015.

The increase in value was underpinned by a 3.5% increase in rental income.

The provisional net tangible asset value (NTA) of the Trust (subject to the annual audit) is forecast to increase from $1.15 per unit to $1.17 per unit at 31 December 2015 as a result of the revaluation. The final NTA will be available upon completion of the audit (expected to be late February 2016).

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited has finalised a $41m Bank Loan Facility with a major Australian bank “the Facility”. The Facility limit was able to be reduced from $64.34m as originally outlined in the Product Disclosure Statement (PDS) to $41m as a result of the sale of Dorcas Street, South Melbourne.  All other key commercial terms for the Bank Loan identified in Section 10.9 of the PDS have been met or improved upon.

The Bank Loan has been finalised on terms that do not materially impact Section 2 – Net Tangible Assets, Section 4.3 – Gearing Ratio, Section 4.4 – Interest Cover or Section 4.5 – Loan Covenants of the RG46 Disclosure Guide update at 30 June 2015.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (“CFM”) confirms that the ATO Dandenong Building has achieved practical completion on 1 October 2015 as originally outlined in the Product Disclosure Statement dated 29 October 2013 (PDS).  This also triggers commencement of rental income from the ATO lease as outlined in section 10.7 of the PDS.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the ATO Dandenong Building as at 30 September 2015 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 18.4% increase in the value of the asset to $87 million, up from the “as complete” valuation of $73.5 million as at 15 October 2014. CBRE carried out the valuation.

The increase in value is underpinned by a 1.5% reduction in capitalisation rate from 7.50% to 6.0%.

The provisional net tangible asset value (NTA) of the Trust is has increased from $0.98 per unit to $1.15 per unit at 30 September 2015 as a result of the revaluation.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (“CFM”) confirms that Rand Transport, the tenant at the Rand Distribution Centre in Direk South Australia, completed their $2.75 million expansion project at the property on 4 September 2015.  The expansion works increased the rental to Cromwell Property Trust 12 (“the Trust”) by approximately $233,700 and triggered a new 20 year lease over the entire premises.

CFM disclosed to investors in the Product Disclosure Statement dated 29 October 2013 within section 3.3.5 the potential that the tenant may seek additional expansion of the facility during the Trust term.

With Practical Completion achieved, the valuation of the property has increased from $38,000,000 at 30 June 2015 to $40,100,000.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (“CFM”) confirms settlement of the sale of 10-16 Dorcas Street South Melbourne in Victoria took place on 17 August 2015 for $30.75 million.

CFM disclosed to investors in the Product Disclosure Statement dated 29 October 2013 the potential for it to sell the South Melbourne asset, or the Rand Distribution Centre in South Australia, before the end of the 7 year term without unitholder approval if the opportunity presented itself.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell is pleased to announce that distributions for the Cromwell Property Trust 12 (the Trust) have been increased by 0.25% from July 2015.

The increase takes the distribution to 8.00% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

Cromwell’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

An external valuation of the Rand Distribution Centre at 30 June 2015 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 9.2% increase in the as complete value of Rand Distribution Centre asset to $38.0 million, up from $34.8 million as at 31 December 2014.

The increase in value is underpinned by increased rental income and additional expansion works.

The net tangible asset value (NTA) of the Trust (assuming completion of the ATO Dandenong Building on 30 September 2015) is forecast to increase from $0.93 per unit to $0.98 per unit as a result of the revaluation.  This includes the 4.5 cent per unit special distribution in relation to the Dorcas Street South Melbourne property sale.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Cromwell Funds Management Limited (“CFM”) has taken advantage of the strong Melbourne property market and negotiated an unconditional contract to sell the smallest of the Cromwell Property Trust 12 assets for $30.75 million. Settlement of the unconditional contract of sale is due to take place on 19 August 2015.

CFM disclosed to investors in the Product Disclosure Statement dated 29 October 2013 the potential for it to sell the South Melbourne asset, or the Rand Distribution Centre in South Australia, before the end of the 7 year term without unitholder approval if the opportunity presented itself.

The sale price agreed upon for the South Melbourne asset reflects a premium of 10.7% to the last independent valuation and a 20.4% increase on the purchase price of $25.54 million in August 2013.

If you have any questions please contact your financial adviser, or Cromwell Investor Services on 1300 276 693.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Internal valuations of South Melbourne and the Rand Distribution Centre at 31 December 2014 have provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.1% increase in the value of the South Melbourne asset to $27.8 million and a 3.9% increase in the value of Rand Distribution Centre asset to $34.8 million, up from $27.5 million and $33.5 million respectively as at 30 June 2014.

The increase in value is underpinned by increased rentals for both of these assets.

The net tangible asset value (NTA) of the Trust (assuming completion of the ATO Dandenong on 30 September 2015) is forecast to increase from $0.97 per unit to $1.00 per unit as a result of the revaluations.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

An external independent valuation of the ATO Dandenong building as at 14 October 2014 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 4.4% increase in the value of the ‘as complete’ asset to $73.5 million, up from $70.39 million as at 30 June 2013.

The increase in value is underpinned by a 0.25% decrease in the capitalisation rate. Urbis Valuations Pty Ltd carried out the valuation.

The net asset value (NAV) of the Trust is forecast to increase from $0.93 to $0.97 at practical completion of the ATO Dandenong building in September 2015 as a result of the revaluation.

A further independent valuation of the ATO Dandenong building will be carried out on practical completion of the building in September 2015.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

External independent valuations of South Melbourne and the Rand Distribution Centre at 30 June 2014 have provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 5.8% increase in the value of the South Melbourne asset to $27.5 million and a 2.3% increase in the value of Rand Distribution Centre asset to $33.5 million, up from $25.5 million and $32.8 million respectively as at 29 October 2013.

The increase in value is underpinned by a 0.25% decrease in the capitalisation rate to 7.75% for South Melbourne and 8.00% for Rand Distribution Centre.

Urbis carried out the valuation for South Melbourne whilst CBRE carried out the valuation for Rand Distribution Centre.

The net tangible asset value (NTA) of the Trust (assuming completion of the ATO Dandenong on 30 September 2015) is forecast to increase from $0.89 per unit to $0.93 per unit as a result of the revaluations.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Previous updates

When the Trust’s PDS was prepared, Cromwell Funds Management Limited intended to finalise the Bank Loan by June 2014 (see Section 10.9).  However, due to the Bank Loan not being required to be drawn until October 2015 (see Section 1.9.2 of the PDS) and to minimise the costs associated with maintaining an undrawn facility, Cromwell Funds Management Limited has delayed finalisation of the Bank Loan.

Cromwell Funds Management now expects to finalise the Bank Loan by 31 December 2014.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

Since Cromwell Funds Management Limited (“CFM”), as responsible entity of the Cromwell Property Trust 12 (“C12” or “the Trust”), issued the Product Disclosure Statement for the Fund on 29 October 2013, there have been no changes to the RG46 disclosure principles for the Fund.

Cromwell respects the privacy of its investors and is committed to protecting their personal information.

The way we manage personal information is governed by the Privacy Act 1988 (Cth) and the Australian Privacy Principles established under the Privacy Act.

On 12 March 2014, Australia’s Privacy Act changed, and Cromwell’s Privacy Policy has been updated to comply with the changes. Click here to read our updated Privacy Policy.

Settlement of the ATO Land at 11 – 13 Robinson Street, Dandenong VIC was completed on 14 February 2014. The timetable for construction of the ATO Dandenong Building remains on track with Practical Completion expected to occur in September 2015.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

 

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice 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 notice 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 in this notice. 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 a reliable indicator of future performance. Forward-looking statements in this notice 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.

The $32.75 million1 Rand Distribution Centre in South Australia is on track for practical completion in late November, paving the way for the facilities’ first tenant to move in shortly thereafter.

The cold store distribution facility is one of three underlying assets which make up Cromwell’s latest ‘back to basics’ property trust – Cromwell Property Trust 12 (the Trust).

Refrigerated logistics facilities have been in high demand from investors lately. A recent research paper by CBRE2 said the demand in the sector signaled a shift from a “mining boom to a dining boom”.

The report said rising sales turnover in the food retail sector had been one of the key market drivers, underpinning strong occupier demand for refrigerated logistics facilities. The Rand Distribution Centre is leased to Rand Transport, a wholly owned subsidiary of the ASX listed Automotive Holdings Group, for 20 years.

CBRE Senior Managing Director, Victoria, Matt Haddon said yields for refrigerated logistics facilities have sharpened as investors become more comfortable with the role that this asset class plays as a vital component of the infrastructure required to facilitate growth in the global supply of food and agricultural products.

“We expect this to continue and for yields on refrigerated logistics assets to compress more rapidly than other industrial assets as they come off a higher base and investors chase the strong WALE’s on offer.” Mr Haddon said.

Construction of the Rand facility has been progressing smoothly with the scheduled November completion date in line with expectations.

The responsible entity of the Trust, Cromwell Funds Management Limited, is seeking to raise approximately $76 million which will be used to fund the purchase of three properties including the Rand Distribution Centre, a new office building in Dandenong, Victoria, and an existing office building in South Melbourne, Victoria.

This simple, tax effective investment underpinned by three assets backed by high quality leases to Government and blue chip tenants with a weighted average lease expiry of approximately 14.7 years3.

Based on the issue price of $1.00 per unit, the Trust is forecast to provide investors with a commencing monthly distribution yield of 7.75% per annum4, forecast to grow over time. Distributions are forecast to be 100% tax deferred5 to 30 June 2014 and partly tax deferred until the end of the forecast period in June 2017 with the potential for capital growth.

1. CBRE Valuations Pty Ltd “as if complete” valuation dated 24 June 2013
2. http://www.cbre.com.au/aboutus/mediacentre/mediaarchives/Pages/100820131008-7599.aspx
3. Calculated by gross income from the expected date of the PDS. Assumes the Rand Distribution Centre and the other construction asset owned by the Trust are completed, and the relevant leases commence, as expected.
4. Capital growth, distributions and taxation consequences are not guaranteed. Subject to the assumptions and risks contained in this PDS.
5. The proportion of distributions that are tax deferred will depend upon 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. 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.

An investment is subject to investment and other known and unknown risks, some of which are beyond the control of Cromwell, including possible delays in repayment and loss of income and principal invested. Cromwell does not guarantee any particular rate of return or the performance of its investment funds nor does it guarantee the repayment of capital or any particular tax treatment. Investors should have specific regard to the risks for the Trust outlined in its PDS when available.

This announcement sets out an intention to register and launch a new managed investment scheme: the Cromwell Property Trust 12 (the Trust). The responsible entity of, and the issuer of units in, the Trust will be Cromwell Funds Management Limited (ACN 114 782 777, AFSL 333214), a wholly owned subsidiary of Cromwell Corporation Limited.

This announcement is not financial advice or a recommendation to acquire Cromwell securities or units in the Trust. This announcement has been prepared without taking into account the objectives, financial situation or needs of any investors. Before making an investment decision prospective investors should consider the appropriateness of the information provided having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate.

Before making any decision to acquire or hold units in the Trust it is important that an investor reads the Trust’s product disclosure statement (“PDS”). The PDS will be made available when the Trust is first offered to investors, which is expected to be in October 2013. The PDS, when finalised, will be available from www.cromwell.com.au or by calling Cromwell Investor Services on 1300 276 693.

This announcement contains certain “forward-looking” statements. The words “intends”, “expected”, “proposed”, “forecast”, “target”, and “will” and other similar expressions are intended to identify forward looking statements. Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to change without notice. Forward-looking statements including projections, indications or guidance on future earnings or financial position and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance.

There can be no assurance that actual outcomes will not differ materially from these statements. To the fullest extent permitted by law, Cromwell and its directors, officers, employees and advisers disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions.

Cromwell Property Group (ASX: CMW) is pleased to announce the creation of a new unlisted property trust, Cromwell Property Trust 12 (the Trust), which has contracted to acquire three assets from EPC Pacific Pty Ltd, a direct property, investment and development division of the Pacific Group of Companies.

The assets comprise an existing office building in South Melbourne, Victoria, an office building under construction in Dandenong, Victoria and an industrial building under construction in Direk, South Australia. The combined value is approximately $129 million, with the majority of the purchase price for the under construction assets payable as each is completed.

Units in the new unlisted Trust will be offered under a product disclosure statement to be issued later this year by Cromwell Funds Management Limited (CFM), the responsible entity of the Trust.  CFM intends to raise approximately $77 million. The balance of the purchase price will be funded by a debt facility which CFM expects to finalise later this year.

Pending the completion of fund raising for the Trust, Cromwell will provide seed funding of approximately $30 million.  This will allow settlement of the acquisition of the South Melbourne building and the land upon which the Dandenong and Direk buildings are being constructed. This seed funding will be progressively repaid as units are issued to investors.

Following the successful completion of the Cromwell Box Hill Trust which closed early and oversubscribed in April 2013, Cromwell anticipates strong demand from direct retail investors and financial advisors for the new Trust.

The assets being acquired by Cromwell Property Trust 12 are:

Information Rand Distribution Centre, Direk
Address Lot 902 Caribou Drive, Direk, South Australia
Status Under construction. Due to completion in December 2013
Sector Industrial
Valuation 32,750,0001
Land Area (m2) 58,628
Lettable Area (m2) 10,312
Major Tenant Rand Transport
Occupancy 100%
WALE (years) 20 (from completion)

 

 

Information Rand Distribution Centre, Direk
Address Lot 902 Caribou Drive, Direk, South Australia
Status Under construction. Due to completion in December 2013
Sector Industrial
Valuation 32,750,0001
Land Area (m2) 58,628
Lettable Area (m2) 10,312
Major Tenant Rand Transport
Occupancy 100%
WALE (years) 20 (from completion)

 

Information Rand Distribution Centre, Direk
Address Lot 902 Caribou Drive, Direk, South Australia
Status Under construction. Due to completion in December 2013
Sector Industrial
Valuation 32,750,0001
Land Area (m2) 58,628
Lettable Area (m2) 10,312
Major Tenant Rand Transport
Occupancy 100%
WALE (years) 20 (from completion)

1.) Based on ‘as if complete’ valuation by CBRE, dated 24 June 2013
2.) Based on ‘as if complete’ valuation by Savills, dated 30 June 2013
3.) Based on valuation by Savills dated 30 June 2013.

Cromwell CEO, Paul Weightman, said “The quality of the asset portfolio, size, and acquisition structure make them ideal assets for a new unlisted property trust which will build on the success of Cromwell’s previous unlisted trusts”.

EPC Pacific CEO, Patrick Smith said “We are delighted to be contracting with a team of very professional people at Cromwell and look forward to delivering two high quality, long term properties for their investors.”

EPC Pacific currently has over $300 million of active property development throughout Australia and is also undertaking a programme of transformation and upgrade of a further $200 million of existing investment assets.

Media Enquiries:
Daryl Wilson
Executive Director
+61 402 046 883
dwilson@cromwell.com.au

Cromwell Securityholder Enquiries:
Investor Services Centre
1300 276 693
invest@cromwell.com.au

This announcement is not financial advice or a recommendation to acquire Cromwell Property Group securities or units in the Cromwell Property Trust 12 (the Trust). This announcement has been prepared without taking into account the objectives, financial situation or needs of any investors. Before making an investment decision prospective investors should consider the appropriateness of the information provided having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate.

This announcement sets out an intention to register and launch a new managed investment scheme: the Cromwell Property Trust 12. The responsible entity of, and the issuer of units in, the Trust will be Cromwell Funds Management Limited (ACN 114 782 777, AFSL 333214), a wholly owned subsidiary of Cromwell Corporation Limited.

Before making any decision to acquire or hold units in the Trust it is important that an investor reads the Trust’s product disclosure statement (“PDS”). The PDS will be made available when the Trust is first offered to investors, which is expected to be later this year. The PDS, when finalised, will be available from www.cromwell.com.au or by calling Cromwell Investor Services on 1300 276 693.

This announcement contains certain “forward-looking” statements. The words “intends”, “expected”, “proposed”, “forecast”, ”target”, and “will” and other similar expressions are intended to identify forward looking statements. Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to change without notice. Forward-looking statements including projections, indications or guidance on future earnings or financial position and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these statements. To the fullest extent permitted by law, the Cromwell Property Group and its directors, officers, employees and advisers disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions.

An investment is subject to investment and other known and unknown risks, some of which are beyond the control of Cromwell, including possible delays in repayment and loss of income and principal invested. Cromwell does not guarantee any particular rate of return or the performance of its investment funds nor does it guarantee the repayment of capital or any particular tax treatment. Investors should have specific regard to the risks for the Trust outlined in its PDS when available.