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 the last external valuation in September 2019.

Marketing of the asset will commence shortly via a comprehensive campaign with settlement not taking place prior to the end of the Trust term in October 2020.

Following the completion of the marketing campaign for the Rand Distribution Centre, CFM expects to  put a proposal to unitholders to retain the 19 George Street, Dandenong asset, which accommodates the Australian Taxation Office, and to extend the Trust term for a further term. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits 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 notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.

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