Cromwell follows ASIC’s good practice guidance for website disclosure of material information. This means that all material information in relation to the Cromwell Ipswich City Heart Trust will be posted on this webpage as soon as practicable after Cromwell becomes aware of it.
04 March 2021
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Trust Disclosure Guide here.
... More >31 August 2020
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Trust Disclosure Guide here.
... More >01 July 2020
Asset Valuation Update – Cromwell Ipswich City Heart Trust
An external valuation of the Ipswich City Heart Building as at 30 June 2020 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 4.5% increase in the value of the asset to $128.5 million, up from $123 million as at 7 April 2020.
The increase in value was underpinned by an advancement in the COVID-19 rental relief negotiations, and also by a reduction in the capitalisation rate. The increase takes the asset... More >
01 July 2020
Distributions Increased to 11.50 cpu pa
Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (Trust) have been increased by 0.25 cents per unit (cpu) from 1 July 2020.
The increase takes the distribution to 11.50% 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... More >
08 April 2020
COVID-19 Asset Valuations Update
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... More >
28 February 2020
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Trust Disclosure Guide here.
... More >11 September 2019
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Trust Disclosure Guide here.
... More >01 July 2019
Asset Valuation Update – Cromwell Ipswich City Heart Trust
An external valuation of the Ipswich City Heart Building as at 30 June 2019 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 2.4% increase in the value of the asset to $126 million, up from $123 million as at 30 June 2018.
The increase in value was underpinned by a 0.125% decrease in the capitalisation rate, from 7.125% to 7.0%.
The provisional net tangible asset value (NTA) of the... More >
28 June 2019
Distributions Increased to 11.25 cpu pa
Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (Trust) have been increased by 0.25 cents per unit (cpu) from 1 July 2019.
The increase takes the distribution to 11.25% 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... More >
28 February 2019
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Trust Fund Disclosure Guide here.
... More >31 December 2018
Distributions Increased to 11.0 cpu pa
Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (Trust) have been increased by 1.5 cents per unit (cpu) from January 2019.
The increase takes the distribution to 11.0% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.
The distribution increase was underpinned by the finalisation of a new interest rate swap for the Trust’s bank loan. The new... More >
21 December 2018
Interest Rate Swap
Cromwell Funds Management Limited (CFM) has finalised the interest rate swap for the Cromwell Ipswich City Heart Trust (Trust) bank loan on terms that are more favourable than those outlined in section 8.6 of the Cromwell Ipswich City Heart Trust Notice of Meeting and Explanatory Memorandum dated 22 August 2018 (Explanatory Memorandum).
The interest rate swap follows the decision of Trust unitholders in September 2018 to extend the term of the Trust for a further four... More >
21 December 2018
Bank Loan Update
Cromwell Funds Management Limited (CFM) has finalised the variation of the existing Cromwell Ipswich City Heart Trust (Trust) bank loan on terms that are the same, or more favourable than, the terms outlined in section 7.4 of the Cromwell Ipswich City Heart Trust Notice of Meeting and Explanatory Memorandum dated 22 August 2018 (Explanatory Memorandum).
The variation of the Trust’s bank loan follows the decision of Trust unitholders in September 2018 to extend the term of... More >
27 September 2018
Unitholders approve the Further Term of the Cromwell Ipswich City Heart Trust
Cromwell Ipswich City Heart Trust (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 22 August 2018.
A successful ‘For’ vote on Resolution 1 extends the Trust Term by four and a half years, until 28 June 2023.
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... More >
21 August 2018
Latest RG46 Disclosure Guide
Download the latest Direct Property Fund Disclosure Guide here.
... More >02 July 2018
Asset Valuation Update – Cromwell Ipswich City Heart Trust
02 July 2018
An external valuation of the Ipswich City Heart Building as at 30 June 2018 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 4.2% increase in the value of the asset to $123 million, up from $118 million as at 31 December 2017.
The increase in value was underpinned by a 0.125% decrease in the capitalisation rate, from 7.25% to 7.125%.
The provisional net tangible asset value (NTA) of the Trust... More >
01 January 2021
Distributions Increased to 9.50 cpu pa
Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (Trust) have been increased by 0.25 cents per unit (cpu) from July 2018.
The increase takes the distribution to 9.50% 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,... More >
26 February 2018
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >31 December 2017
Asset Valuation Update – Cromwell Ipswich City Heart Trust
An external valuation of the Ipswich City Heart building as at 31 December 2017 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 3.5% increase in the value of the asset to $118 million, up from the valuation of $114 million as at 31 December 2016.
The increase in value was underpinned by a 3.75% increase in rental income.
The provisional net tangible asset value (NTA) of the Trust (subject to the audit)... More >
11 October 2017
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >05 July 2017
Cromwell Ipswich City Heart Trust Election to be an Attribution Managed Investment Trust
Click here for the full update
... More >03 July 2017
Distributions Increased to 9.25 cpu pa
Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (“Trust”) have been increased by 0.25 cents per unit (“cpu”) from July 2017.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... More >
02 May 2017
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >04 April 2017
Bank Loan Update - Cromwell Ipswich City Heart Trust
Cromwell Funds Management Limited (CFML) is the responsible entity of the Cromwell Ipswich City Heart Trust (Trust).
The Bank Loan for the Property was due to expire in June 2017. CFML has taken advantage of current market conditions and negotiated a refinance of the Bank Loan until June 2019. The margin rate under the Bank Loan has reduced. All other terms remain substantially the same.
Furthermore, CFML has extended the Trust’s interest rate swap by six months... More >
27 March 2017
Cromwell Ipswich City Heart Trust – Constitution Amendments
16 March 2017
Notice of Proposed Trust Constitution Amendments
Cromwell Ipswich City Heart Trust (ARSN 154 498 923) (“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... More >
24 January 2017
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >11 January 2017
Asset Valuation Update
An external valuation of the Ipswich City Heart building as at 31 December 2016 has provided good news for Cromwell Ipswich City Heart Trust (“Trust”) unitholders: a 4.6% increase in the value of the asset to $114 million, up from the valuation of $109 million as at 30 June 2016.
The increase in value was underpinned by a 3.75% increase in rental income.
The provisional net tangible asset value (NTA) of the Trust (subject to the audit)... More >
14 September 2016
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >12 July 2016
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >01 July 2016
Distributions Increased to 9.0 cpu Pa
Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (“Trust”) have been increased by 0.25 cents per unit (“cpu”) from July 2016.
The increase takes the distribution to 9.00% 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... More >
30 June 2016
Asset Valuation Update and Outgoings Adjustment
The Cromwell Ipswich City Heart Trust (Trust) has received a payout from the Developer, Leightons Properties (Brisbane) Pty Limited (Leightons Properties), on their remaining lease obligations on the mezzanine tenancy and the retail tenancies on Bell Street. The lease expiry date on the mezzanine tenancy and the retail tenancies was 30 September 2018. Leighton Properties occupied 7.3% of the net lettable area by income.
Cromwell Funds Management Limited will shortly commence a marketing strategy to find... More >
21 March 2016
Latest RG46 Disclosure Guide
Download the latest Cromwell Ipswich City Heart Trust Disclosure Guide here.
... More >04 January 2016
Asset Valuation Update - Cromwell Ipswich City Heart Trust
An external valuation of the Ipswich City Heart Building as at 31 December 2015 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 7.8% increase in the value of the asset to $110 million, up from $102 million as at 30 June 2015.
The increase in value is underpinned by a 3.75% increase in rental income and a 0.39% decrease in the capitalisation rate. The provisional net tangible asset value (NTA) of... More >
30 September 2015
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Fund Disclosure Guide here.
... More >09 July 2015
Distributions Increased To 8.75% Pa
Cromwell is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (the Trust) have been increased by 0.25% from July 2015.
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.
Cromwell’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.
Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has... More >
09 July 2015
Asset Valuation Update - Cromwell Ipswich City Heart Trust
An external valuation of the Ipswich City Heart Building as at 30 June 2015 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 1.0% increase in the value of the asset to $102 million, up from $101 million as at 31 December 2014..
The increase in value is underpinned by a 3.75% increase in rental income, whilst allowing for softer retail letting up assumptions.
The provisional net tangible asset value (NTA) of... More >
16 March 2015
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Fund Disclosure Guide here.
... More >27 January 2015
Asset Valuation Update - Cromwell Ipswich City Heart Trust
An internal valuation of the Ipswich City Heart Building as at 31 December 2014 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 1.5% increase in the value of the asset to $101 million, up from $99.5 million as at 30 June 2014.
The increase in value is underpinned by a 3.75% increase in rental income, whilst allowing for softer retail letting up assumptions.
The provisional net tangible asset value (NTA) of the... More >
15 September 2014
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Fund Disclosure Guide here.
... More >10 July 2014
Distributions Increased To 8.50% Pa
Cromwell is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust (the Trust) have been increased by 0.25% from July 2014.
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.
Cromwell’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.
Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has... More >
04 July 2014
Bank Loan Update - Cromwell Ipswich City Heart Trust
The Bank Loan for the Property was due to expire in December 2014. To take advantage of current market conditions, CFML has negotiated an extension of the Bank Loan until June 2017. The margin rate under the Bank Loan has reduced slightly. All other terms remain substantially the same.
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... More >
01 July 2014
Asset Valuation Update - Cromwell Ipswich City Heart Trust
An external independent valuation of the Ipswich City Heart Building as at 30 June 2014 has provided good news for Cromwell Ipswich City Heart Trust (Trust) unitholders: a 2.1% increase in the value of the asset to $99.5 million, up from $97.5 million as at 31 December 2013.
The increase in value is underpinned by a 0.125% decrease in the valuation’s capitalisation rate to 7.625%. Colliers International carried out the valuation.
The provisional net tangible asset value... More >
30 March 2014
Latest RG46 Disclosure Guide
Download the latest Ipswich City Heart Trust 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.
... More >14 July 2013
Distributions Increased To 8.25%PA
Cromwell is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust have been increased by 0.25% from July 2013.
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.
Cromwell’s decision to increase distributions by the Trust was underpinned by a slightly lower than forecast interest rate cost.
Capital growth and distributions are not guaranteed and are subject to the assumptions... More >
12 July 2013
First Look Inside Ipswich Icon
Construction on the landmark Ipswich City Heart building has gone up another notch with the project rapidly approaching practical completion and starting to draw plenty of attention.
The $93 million building1, which is owned by the Cromwell Ipswich City Heart Trust, is being developed by Leighton Properties and constructed by Hutchinson Builders. It is the first building in the ICON Ipswich masterplan aimed at revitalising the Ipswich CBD.
There was also the recent announcement that IPN Medical... More >
11 October 2012
Cromwell Completes Unlisted Retail Fund Raising
Cromwell Property Group (Cromwell) is pleased to announce that the Cromwell Ipswich City Heart Trust (the Trust), an unlisted single property trust managed by Cromwell, has closed for applications earlier than planned and oversubscribed.
Cromwell CEO Paul Weightman said the recent announcement of an increase in forecast Trust distributions1 combined with falling official interest rates significantly boosted the rate of inflows.
"With the Trust’s monthly distributions forecast at 8.00% per annum, and with expectations of further falls... More >
19 September 2012
Cromwell's City Heart Trust - Australia's First Unlisted Property Syndicate Certified As A Responsible Investment
Cromwell Property Group (ASX: CMW) announced today that its unlisted syndicate, the Cromwell Ipswich City Heart Trust, has been certified by the Responsible Investment Association of Australasia (RIAA).
The Trust is the first single property investment vehicle to be certified as a Responsible Investment by the RIAA.
Cromwell has demonstrated its commitment to incorporating environmental, social and corporate governance ("ESG") issues into its investment analysis and has adopted a series of ESG based criteria against which the... More >
28 August 2012
RG46 Disclosure Update
The Australian Securities & Investments Commission ("ASIC") issued Regulatory Guide 46 'Unlisted Property Schemes - Improving Disclosure For Retail Investors' ("RG46") in September 2008. RG46 sets out particular disclosure principles for improved disclosure to retail investors to help them compare risks and returns across investments in the unlisted property sector.
Since Cromwell Funds Management Limited (“CFM”), as responsible entity of the Cromwell Ipswich City Heart Trust (“ICH” or “the Trust”), issued the Product Disclosure Statement for... More >
27 July 2012
Distributions Increased To 8%PA
Cromwell is pleased to announce that distributions for the Cromwell Ipswich City Heart Trust have been increased by 0.25%.
The increase takes the distribution from 1 July 2012 to 8.00% per annum. Forecast distributions for the remainder of the forecast period in the PDS have also been increased by 0.25% pa.
Cromwell’s decision to increase distributions by the Trust was underpinned by the recent moves to lock in current low interest rates until 2018 and increased certainty... More >
16 December 2011
Cromwell Launches $93M Ipswich City Heart Trust
Cromwell Property Group (ASX: CMW) has announced the launch of a PDS to raise up to $49.25 million in a new unlisted Cromwell Ipswich City Heart Trust to be managed by the Group.
The Trust is a 7-year single property syndicate which will commence distributions at 7.75% pa and offers capital growth potential[1] and tax-deferred income[2] from the energy efficient Ipswich City Heart Building at 117 Brisbane Street, Ipswich, Queensland.
The Queensland Government’s Department of Public Works... More >