Cromwell follows ASIC’s good practice guidance for website disclosure of material information. This means that all material information in relation to the Cromwell Direct Property Fund will be posted on this webpage as soon as practicable after Cromwell becomes aware of it.
01 April 2019
Asset Valuation Update – Cromwell Direct Property Fund
An external valuation of the Parafield Retail Complex asset (located on Main North Road, Parafield, South Australia) as at 31 March 2019 has provided good news for Cromwell Direct Property Fund (Fund) unitholders: a 6.4% increase in the value of the asset to $29 million, up from the valuation of $27.25 million as at 31 March 2018.
The Fund also benefited from an external valuation increase to the Rand Distribution Centre, located in Direk, SA, owned... More >
28 February 2019
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >08 January 2019
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >31 December 2018
Asset Valuation Update – Cromwell Direct Property Fund
An external valuation of the 64 Allara Street, Canberra asset as at 31 December 2018 has provided good news for Cromwell Direct Property Fund (Fund) unitholders: a 1% increase in the value of the asset to $18 million, up from the valuation of $17.5 million as at 31 December 2017.
The increase in valuation is underpinned by a reduction in the capitalisation rate.
An external valuation of the Boundary Street, Spring Hill asset as at 31 December... More >
19 December 2018
Refinance of Debt Facility
Cromwell Funds Management Limited (CFM) has finalised an amendment to the Cromwell Direct Property Fund’s (Fund) existing debt facility (Facility) with an Australian bank. The Facility limit has increased from $35 million to $55 million, and the term extended for an additional three (3) years, with a new expiry of December 2021. The Facility will be partly drawn to fund the acquisition of 420 Flinders Street, Townsville.
Cromwell Funds Management Limited ABN... More >
14 December 2018
Cromwell Direct Property Fund acquires 420 Flinders Street, Townsville
The Cromwell Direct Property Fund (Fund) has secured its fifth direct commercial property asset, located at 420 Flinders Street, Townsville for an acquisition price of $63.5 million which reflects a passing yield of 7.3%.The property is an elevated 1,506 square metre (sqm) site comprising an eight-level office building with approximately 7,929 sqms of net lettable area.The property’s major lease is to Energy Queensland Limited (Energy Queensland), a Queensland Government-owned electricity provider. Energy Queensland... More >
01 November 2018
Update to Complaints Handling Process
Click here to view the update to complaints handling process.
... More >22 October 2018
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >22 October 2018
Updated Annual Fees & Costs and Transactional & Operational Costs for the financial year ended 30 June 2018
Click here to view the Continuous Disclosure Notice
... More >03 October 2018
Asset Valuation Update - Cromwell Direct Property Fund
An external valuation of the Bunnings asset (located on the corner of Curtis Road and Frisby Road, Angle Vale, South Australia) as at 30 September 2018 has provided good news for Cromwell Direct Property Fund (Fund) unitholders: a 3.1% increase in the value of the asset to $31.3 million, up from the valuation of $30.35 million as at 30 September 2017.
The increase in valuation is underpinned by an increase in passing rent.
The increase in value of the Bunnings... More >
21 August 2018
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >09 May 2018
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >10 April 2018
Cromwell Direct Property Fund – Change to how acquisition fees are charged to the Fund
As disclosed in section 5.4 of the Fund’s product disclosure statement dated 29 September 2017 (PDS), the acquisition fee in respect of Direct Property assets is charged to the Fund as follows:
CFM is entitled to charge an acquisition fee to the Fund of up to 2.0%... More >
06 April 2018
Asset Valuation Update - Cromwell Direct Property Fund
An external valuation of the Parafield Retail Complex asset (located at Main North Road, Parafield, South Australia) as at 31 March 2018 has provided good news for Cromwell Direct Property Fund (Fund) unitholders: a 2.8% increase in the value of the asset to $27.25 million, up from the internal valuation of $26.5 million as at 31 December 2017.
The increase in valuation is underpinned by a reduction in the capitalisation rate.
The increase in value... More >
01 February 2018
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >02 January 2018
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >31 December 2017
Asset Valuation Update – Cromwell Direct Property Fund
An external valuation of 64 Allara Street, Canberra as at 31 December 2017 has provided good news for Cromwell Direct Property Fund (Fund) unitholders: a 3.6% increase in the value of the asset to $17.5 million, up from the valuation of $16.9 million as at 31 December 2016.
The increase in value was underpinned by a reduced capitalisation rate of the asset.
An internal valuation of the Parafield Retail Complex, Main North Road, Parafield SA has provided... More >
19 December 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >18 December 2017
Cromwell Direct Property Fund acquires 433 Boundary Street, Spring Hill, Brisbane
The property is an elevated 3,778 square metre (sqm) site comprising a three-level office building with approximately 6,000 sqms of net lettable area.
The property’s major lease is to International Education Services (IES), a provider of education services to international students. IES occupies two of the three floors... More >
25 October 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >03 October 2017
Asset Valuation Update – Cromwell Direct Property Fund
An external valuation of the Bunnings asset (located on the corner of Curtis Road and Frisby Road, Angle Vale, South Australia) as at 30 September 2017 has provided good news for Cromwell Direct Property Fund (Fund) unitholders: a 4.7% increase in the value of the asset to $30.35 million, up from the valuation of $29.0 million as at 30 June 2017.
The increase in valuation is underpinned by an increase in rental and a reduction in... More >
29 September 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >29 September 2017
Issue of new Cromwell Direct Property Fund Product Disclosure Statement
Cromwell Funds Management Limited (CFM) is the responsible entity of the Cromwell Direct Property Fund (Fund).
Units in the Fund were available for subscription under a product disclosure statement dated 1 September 2016 (2016 PDS).
Units are now available for subscription under a new product disclosure statement dated 29 September 2017 (2017 PDS), and the 2016 PDS is no longer applicable.
The fees and other costs section of the 2017... More >
31 July 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >05 July 2017
Cromwell Direct Property Fund Election to be an Attribution Managed Investment Trust
Click here for the full update
... More >03 July 2017
Asset Valuation Update
An internal valuation of the Bunnings asset (located on the corner of Curtis Road and Frisby Road, Angle Vale, South Australia) as at 30 June 2017 has provided good news for Cromwell Direct Property Fund (“Fund”) unitholders: a 1.8% increase in the value of the asset to $29.0 million, up from the valuation of $28.5 million as at 30 September 2016.The increase in valuation is underpinned by the expiry of outstanding rental incentives.The increase... More >
24 April 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >06 April 2017
Asset Valuation Update
An external valuation of the Parafield Retail asset (located on Main North Road, Parafield, South Australia) as at 31 March 2017 has resulted in a 5.0% decrease in the value of the asset to $26.25 million, down from $27.6 million as at 31 March 2016.
The decrease in value was underpinned by a lower rental on Tenancy Two, situated between Officeworks and the former Masters Store. The fall in value was offset by a reduced payment... More >
27 March 2017
Cromwell Direct Property Fund – Constitution Amendments
16 March 2017
Notice of Proposed Trust Constitution Amendments
Cromwell Direct Property Fund (ARSN 165 011 905) (“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... More >
28 February 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >18 January 2017
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >11 January 2017
Asset Valuation Update
An external valuation of 64 Allara Street, Canberra as at 31 December 2016 for the Cromwell Direct Property Fund (“Fund”) has resulted in a slight (1.7%) decrease in the value of the asset to $16.9 million, down from the valuation of $17.2 million as at 31 March 2016.
The decrease in value was underpinned by an increased capitalisation rate of the asset.
The updated valuations will affect the unit price for units issued and redeemed on and... More >
10 November 2016
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >30 September 2016
Asset Valuation Update
An external valuation of the Bunnings asset (located on the corner of Curtis Road and Frisby Road, Angle Vale, South Australia) as at 30 September 2016 has provided good news for Cromwell Direct Property Fund (“Fund”) unitholders: a 2.5% increase in the value of the asset to $28.5 million, up from the ‘as if complete’ valuation of $27.8 million as at 31 March 2016.
The increase in value of the Bunnings asset is expected to affect... More >
02 September 2016
Issue Of New Product Disclosure Statement
Cromwell Funds Management Limited (“CFM”) is the responsible entity of the Cromwell Direct Property Fund (“Fund”).
Units in the Fund were available for subscription under a product disclosure statement dated 21 August 2013 (“2013 PDS”). A supplementary product disclosure statement was released for the Fund on 28 May 2014 (“SPDS”).
Units are now available for subscription under a new product disclosure statement dated 1 September 2016 (“PDS”), and the 2013 PDS and SPDS are no longer applicable.
The... More >
01 September 2016
Latest RG46 Disclosure Guide
Download the latest Cromwell Direct Property Fund Disclosure Guide here.
... More >03 August 2016
Commencement Of Bunnings Lease
Cromwell Funds Management Limited (“CFM”) confirms that the lease to Bunnings Group Limited (“Bunnings Lease”) commenced with the Cromwell Direct Property Fund (“Fund”) on 2 August 2016.
The Bunnings Lease triggers the commencement of rental income to the Fund from its property at Munno Para West, South Australia.
If you have any questions please contact your financial adviser, or Cromwell Investor Services on 1300 276 693 or email invest@cromwell.com.au.
Cromwell Funds Management Limited ABN 63 114... More >
27 July 2016
Finalisation Of Bank Facility
Cromwell Funds Management Limited has finalised a $35m Bank Loan Facility (“the Facility”) for three years with an Australian bank. The Facility will enable the acquisition of $15,085,000 or 10,134,000 units in the Cromwell Riverpark Trust.
If you would like to know more about the Cromwell Direct Property Fund, please visit www.cromwell.com.au/dpf, or contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.
Cromwell Funds Management Limited ABN 63 114... More >
12 July 2016
Commencement Of Masters Lease
Masters Parafield, Parafield Airport, Main North Road, Parafield, SA (“Parafield”)
Cromwell Funds Management Limited (“CFM”) confirms that the lease to Masters Home Improvement Australia Pty Ltd (“Masters Lease”) (guaranteed by Woolworths Limited) commenced with the Cromwell Direct Property Fund (“Fund”) on 8 June 2016.
The Masters Lease triggers the commencement of rental income to the Fund from the tenancies occupied at Parafield by Masters, Officeworks and Hungry Jack’s.
If you have any questions please contact your financial adviser,... More >
01 July 2016
Ongoing Fund Costs Capped Until 30 June 2017
Cromwell Funds Management Limited (“CFM”) is the Responsible Entity of Cromwell Direct Property Fund ("Fund").
As disclosed in the section titled “Ongoing Fund Costs” of the Fund’s Supplementary Product Disclosure Statement dated 28 May 2014 (“SPDS”), CFM agreed to bear any normal ongoing administrative and operating costs above 0.20% per annum for the period to 30 June 2015. This SPDS disclosure updated the information on page 22 of the Product Disclosure Statement dated 21 August 2013... More >
01 July 2016
Distributions Increased To 7.0 Cpu Pa
Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Direct Property Fund (“Fund”) have been increased to 7.0 cents per unit (“cpu”) from July 2016.
CFM’s decision to increase distributions by the Fund was underpinned by an increase in annual rental income for the Fund, in addition to the Masters Parafield, SA building reaching practical completion and subsequent commencement of the lease, and the upcoming practical completion of the Bunnings Munno... More >
30 May 2016
Finance Arrangement Services
Cromwell Funds Management Limited (“CFM”) is the responsible entity of the Cromwell Direct Property Fund (“the Fund”).
A related party of CFM, Cromwell Capital Pty Ltd ABN 47 098 390 768 (“Cromwell Capital”), has been appointed to provide finance arrangement services to the Fund. Cromwell Capital and CFM are wholly-owned subsidiaries of Cromwell Corporation Limited.
Cromwell Capital will charge the Fund fees for those finance arrangement services at commercial market rates for the provision of... More >
01 April 2016
Asset Valuation Updates
External valuations as at 31 March 2016 of the three direct property assets owned by the Cromwell Direct Property Fund (the Fund) have provided good news for Fund unitholders, with all three assets having increased in value. The three direct property assets of the Fund are:
64 Allara Street, Canberra ACT;Masters Parafield, Parafield Airport, Main North Road, Parafield SA; andBunnings asset located on the corner of Curtis Road and Frisby Road, Angle Vale SA.64 Allara Street... More >
21 March 2016
Latest RG46 Disclosure Guide
Download the latest Cromwell Direct Property Trust Disclosure Guide here.
... More >02 December 2015
Cromwell Fund Acquires $27.5m Bunnings From GIC Australia
The Cromwell Direct Property Fund (“the Fund”) has acquired a 4.1 hectare site in Munno Para West (Angle Vale), South Australia and entered into a fixed price development agreement with GIC Australia to construct a Bunnings Warehouse with a forecast as complete value of $27.5 million.
The acquisition will reflect a yield of 6.45% per annum on passing income from a long term lease to Wesfarmers Limited subsidiary Bunnings. The Fund will also earn 7.0% per... More >
30 September 2015
Latest RG46 Disclosure Guide
Download the latest Cromwell Direct Property Fund Disclosure Guide here.
... More >30 July 2015
Cromwell Direct Property Fund Distribution Increase From 1 August 2015
In May 2015, Cromwell Funds Management (“CFM”) drew investors’ attention to the Cromwell Direct Property Fund’s accumulation of significant cash holdings which had a negative impact on the underlying earnings of the Fund. At the same time, the Reserve Bank of Australia further reduced Australian cash rates due to economic uncertainty.
As a responsible fund manager, CFM determined it would adopt a conservative approach and reduce distributions to 4.75 cents per unit (“cpu”) until it was... More >
14 July 2015
Purchase Of 64 Allara Street, Canberra ACT
Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (“CFM”) has acquired a property at 64 Allara Street, Canberra, ACT (“Allara Street Property”) on behalf of the Cromwell Direct Property Fund ARSN 165 011 905 (”the Fund”) for$16.8 million. Settlement is expected to occur on 20 July 2015.
The asset is the second direct property investment for the Fund, which also holds stakes in four of Cromwell’s ‘back to basics’ property trusts. In addition,... More >
24 June 2015
DPF Acquires Its First Direct Asset
Cromwell Funds Management Limited has acquired a property at Parafield in South Australia on behalf of the Cromwell Direct Property Fund (”the Fund”) with a completion value of $27.25 million. The Fund has entered into a fixed price development agreement to construct a Masters store located at Parafield Airport, Main North Road, Parafield, SA.
The asset is the first direct property investment for the Fund, which... More >
15 April 2015
Distribution Update
Cromwell Direct Property Fund Distributions Reduced To 4.75 Cents Per Unit From 1 May 2015
For some time now the Cromwell Direct Property Fund (“the Fund”) has been cautiously building up its cash reserves to fund an acquisition. This cash build up has had a negative impact on the underlying earnings of the Fund. As a result the decision has been made that, from 1 May 2015, distribution payments will be reduced from the current 7.25... More >
16 March 2015
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >06 March 2015
Continuous Disclosure Notice
Daryl Wilson, Executive Director of Cromwell Property Group (ASX:CMW) (Cromwell), has retired as a director of Cromwell Property Securities Limited, Cromwell Corporation Limited and all Cromwell subsidiaries.
If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.
... More >15 September 2014
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >21 August 2014
Continuous Disclosure Notice
To make an initial or additional investment in the Cromwell Direct Property Fund (the Fund), direct investors can pay their application moneys by cheque, BPay or direct debit. Payments made by cheque may take some days to be ‘cleared funds’. However, Cromwell Funds Management Limited (CFM) will now accept an otherwise complete application on the day of receipt (or deemed receipt as the case may be) even if payment is made by cheque or direct... More >
10 July 2014
Distributions Increased To 7.25 Cents Per Unit Pa
Cromwell is pleased to announce that distributions for the Cromwell Direct Property Fund (the Fund) have been increased by 0.25% from July 2014.
The increase takes the distribution to 7.25 cents per unit, per annum. Distributions will continue to be paid monthly.
Cromwell’s decision to increase distributions by the Fund was underpinned by increases in distributions from the underlying assets owned by the Fund.
Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared... More >
04 June 2014
Initial Investment Portfolio Updated Timeline
Cromwell Funds Management Limited ("CFM"), as responsible entity of the Cromwell Direct Property Fund ("the Fund"), issued a product disclosure statement for the Fund dated 21 August 2013 ("PDS") and a supplementary product disclosure statement dated 28 May 2014 ("SPDS").
Section 1.4 of the PDS outlined the anticipated timing of the investments making up the Initial Investment Portfolio. Although CFM has commenced acquiring the Initial Investment Portfolio, it has updated when it expects to complete... More >
01 May 2014
Amendment To Direct Property Fund Constitution
Cromwell Funds Management Limited (CFM) is the Responsible Entity (RE) of Cromwell Direct Property Fund (DPF).
Under the DPF Constitution, CFM as the RE of DPF, may offer the Limited Monthly Withdrawal Facility from 1 July 2015 and each month after that date.
CFM has resolved to modify the DPF Constitution so that the Limited Monthly Withdrawal Facility may be activated before 1 July 2015.
CFM has notified the Australian Securities & Investments Commission of... More >
29 April 2014
ATO Building Box Hill Revaluation
An external independent valuation of the ATO Building as at 1 March 2014 has provided good news for Cromwell Box Hill Trust (Trust) unitholders: a 1.1% increase in the value of the ‘as complete’ asset to $118 million, up from $116.75 million as at 30 November 2012.
The increase in value is underpinned by a 0.25% decrease in the capitalisation rate. Savills Valuation Pty Ltd carried out the valuation.
The net asset value (NAV) of the Trust... More >
30 March 2014
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >12 March 2014
Privacy Policy Update
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.
Cromwell may also disclose some of your personal information... More >
30 September 2013
RG46 Disclosure Guide Update
Since Cromwell Funds Management Limited (“CFM”), as responsible entity of the Cromwell Direct Property Fund (“DPF” or “the Fund”), issued the Product Disclosure Statement for the Fund on 21 August 2013, there have been no changes to the RG46 disclosure principles for the Fund.
... More >03 September 2013
Cromwell unveils Direct Property Fund
Cromwell Property Group (ASX: CMW) has launched a new unlisted property investment, the Cromwell Direct Property Fund (the "Fund"), to satisfy market demand for a property investment vehicle capable of providing monthly income from a portfolio of quality property assets.
The Fund, which has a suggested investment timeframe of seven years, will commence monthly distributions at 7% pa1 (based on a $1.00 unit price) and offer a tax-advantaged income stream2 combined with the potential for capital... More >
