Responsible entity |
CorVal Partners Limited |
Custodian |
The Trust Company (Australia) Limited |
Trust structure |
Fixed-term unlisted property trust |
Trust term |
5 - 7 years from June 2011* |
Property asset |
- 100% of 17 Moore Street, Canberra, ACT; and
- 49.99% of the Australian Red Cross Blood Service property
located at 17 O’Riordan Street, Alexandria, NSW.
|
Property purchase price |
- $19.0m (17 Moore Street, Canberra)
- $71.0m (17 O’Riordan Street, Alexandria)
|
Valuation |
- $20.3m (17 Moore Street, Canberra)
- $71.0m (17 O’Riordan Street, Alexandria)**
|
Revaluation policy |
Independently re-valued as at 30 June each year |
WALE (by income) |
11.9 years (December 2011) |
Major tenant |
- Commonwealth of Australia (17 Moore Street, Canberra)
- Australian Red Cross Blood Service (17 O’Riordan Street, Alexandria)
|
Issued units |
31.42m |
NAV per unit |
$0.94 (July 2011) |
Trust borrowings |
- $7.0m (17 Moore Street, Canberra)
- $39.6m (17 O’Riordan Street, Alexandria)
|
Loan expiry |
- September 2014 (17 Moore Street, Canberra)
- October 2014 (17 O’Riordan Street, Alexandria)
|
LVR |
48%*** |
ICR |
4.88 times (Half year ended 31 December 2011)**** |
Distributions |
Quarterly |
Withdrawal rights |
None. The Trust is a fixed-term investment with no ongoing liquidity. |
