Continuous Disclosure & Updates

01 July 2021

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... More >

21 April 2021

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 ... More >

04 March 2021

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

17 December 2020

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... More >

18 November 2020

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... More >

16 November 2020

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

19 August 2020

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... More >

06 August 2020

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... More >

07 July 2020

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... More >

01 July 2020

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... More >

01 July 2020

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,... More >

08 April 2020

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 >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

01 October 2019

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

28 June 2019

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,... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

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... More >

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

6 April 2018

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... More >

26 February 2018

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

25 October 2017

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

11 October 2017

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

03 October 2017

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... More >

05 July 2017

Click here for the full update

... More >

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,... More >

An internal valuation of the 19 George Street, Dandenong asset as at 30 June 2017 has provided good news for Cromwell Property Trust 12 (“Trust”) unitholders: a 0.5% increase in the value of the asset to $93.0 million, up from $92.5 million as at 30 September 2016.The increase in value was underpinned by a 1.2% increase in market rent.The provisional net tangible asset value (NTA) of the Trust (subject to the audit) is forecast... More >

02 May 2017

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

06 April 2017

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... More >

27 March 2017 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... More >

16 March 2017 PROPOSED CONSTITUTION AMENDMENTS TO FACILITATE ADOPTION OF THE ATTRIBUTION MANAGED INVESTMENT TRUST (AMIT) REGIMENOTICE 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... More >

24 January 2017

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

11 January 2017

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... More >

10 November 2016

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

30 September 2016

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... More >

14 September 2016

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

01 July 2016

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... More >

21 March 2016

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

... More >

05 January 2016

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... More >

01 October 2015

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... More >

01 October 2015

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 your financial adviser, or Cromwell Investor Services on 1300 276 693 or email invest@cromwell.com.au.

Cromwell Funds Management... More >

30 September 2015

Download the latest Cromwell Property Trust 12 Fund Disclosure Guide here.

... More >

30 September 2015

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... More >

18 September 2015

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... More >

16 August 2015

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... More >

09 July 2015

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.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared... More >

09 July 2015

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... More >

21 May 2015

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... More >

16 March 2015

Download the latest Property Trust 12 Disclosure Guide here.

... More >

27 January 2015

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... More >

04 December 2014

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... More >

15 September 2014

Download the latest Property Trust 12 Disclosure Guide here.

... More >

01 July 2014

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... More >

30 June 2014

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... More >

30 March 2014

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.

... More >

12 March 2014

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 >

25 February 2014

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 news... More >

28 October 2013

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... More >

09 August 2013

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... More >