02 December 2021

Cromwell Funds Management (CFM) as responsible entity for the Cromwell Direct Property Fund (the Fund) is pleased to announce settlement of the 100 Creek Street, Brisbane (the Property) at a purchase price of $184.7 million.

The Property is accretive to the Fund’s earnings and takes the Fund’s direct property portfolio to seven assets valued at $585 million, with look-through property exposure to 9 assets with value of $677 million.  

The Property has a 3.2 year weighted average lease expiry (WALE) and takes the Fund’s overall WALE to 5.2 years.

Recently refurbished, the 24-storey tower accommodates a commercial tenancy mix of high quality national, multinational, listed and Government organisations. Located in Brisbane’s Golden Triangle, the property is close to the heart of Brisbane’s retail precinct, leasing interest from potential new tenants in the remaining vacant tenancies is positive.  

For further information on the Fund contact Cromwell’s Investor Services Team on 1300 268 078


Disclaimer:

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this update and is the responsible entity of, and the issuer of units in, the Cromwell Direct Property Fund ARSN 165 011 905 (Fund). In deciding whether to acquire or continue to hold an investment you should consider the Product Disclosure Statement (PDS) and assess, with (or without) your financial adviser, whether products fit your objectives, financial situation or needs. A target market determination (TMD) is also available. Applications for units in the Fund can only be made on the application form. The PDS, TMD and application form are issued by CFM and are available from www.cromwell.com.au/dpf or by calling Cromwell's Investor Services team on 1300 268 078. This content has been prepared without taking account of 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 update. If you acquire units in the Fund, CFM and certain related parties may receive fees from the Fund and these fees are disclosed in the PDS.

Please note: Any investment, including an investment in the Fund, 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 indicative of future performance. Forward-looking statements in this update are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Fund are subject to the risks and assumptions set out in the PDS.