Formal closure notice: Cromwell Ipswich City Heart Trust wind up and final distribution payment

Cromwell Funds Management Limited (CFM) as the responsible entity of the Cromwell Ipswich City Heart Trust (the Trust) advises that the Trust has been formally wound up in accordance with the Trust’s constitution and the law as at 28 February 2022. Please click here for further information.

Key Benefits

  1. Strong yield premium to term deposits
  2. Tax effective investment
  3. Long WALE, leased predominantly to government tenant
  4. Monthly distributions

Trust Details

This was the first Cromwell trust to be certified as a Responsible Investment by the Responsible Investment Association of Australia. The Trust owns the highly green credentialled City Heart Building in Ipswich, Queensland.

Distribution With low interest rates reducing the returns offered by cash and term deposits, this fund which had commencing distributions of 7.75% pa1, was very well supported by investors.The distribution was increased to 11.00 cpu pa at commencement of the Further Term from 01 January 2019.
Investments This unlisted trust’s asset is the Ipswich City Heart Building completed in November 2013. The Trust was another single property investment opportunity, and the capital raising was well supported by investors attracted by the monthly distribution yield, the quality of the asset and its strong, long-term lease profile.
Benchmark PCA/IPD Australian Pooled Property Fund Index - Unlisted Core Retail Index
Date commenced December 2011
Trust Maturity June 20231

Investment Strategy

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