Funds & Investments

Funds & Investments

Retail Trusts

CorVal Industry House Trust (CIHT) - Realised Investment

Industry House is an A-grade, 14 storey office building located in the Canberra CBD. The property is 99% leased to the Commonwealth of Australia until December 2021. It was acquired for CorVal's first retail investor trust (CIHT), which was established 2009. This property has since been sold, delivering investors with a return in excess of the initial return target for this investment.

  • Property

    Industry House, 10 Binara Street, Canberra, ACT

  • Purchase Date

    June 2009

  • Purchase Price

    $123.00 million

  • NLA (sqm) approximate

    25,200 sqm

  • Disposal Date

    October 2013

  • Disposal Price

    $151.70 million

CorVal Property Trust No 2 (CPT2)

The CorVal Property Trust No 2, via investments in two separate trusts, has an exposure to two property assets, namely:
- 49.99% of the Australian Red Cross Blood Service property located at 17 O’Riordan Street, Alexandria, NSW; and
- 100% of 17 Moore Street, Canberra, ACT.

17 O’Riordan Street, Alexandria, comprises a three level purpose built commercial office, warehouse and laboratory facility that was completed in January 2011. The property is fully leased to the Australian Red Cross Blood Service until 2031. CPT2 disposed of its 49.99% interest in this property in July 2016.

  • Property

    17 O'Riordan Street, Alexandria, NSW

  • Purchase Date

    June 2011

  • Purchase Price

    $71.00 million (100%)

  • NLA (sqm) approximate

    12,700 sqm

  • Disposal Date

    July 2016

  • Disposal Price

    $112.9 million (100%)

17 Moore Street, Canberra comprises a seven level office building, with 100% of the property income secured by a lease to the Australian Commonwealth Government (Department of Education, Employment and Workplace Relations (DEEWR)) through until October 2016.

  • Property

    17 Moore Street, Canberra, ACT

  • Purchase Date

    June 2011

  • Purchase Price

    $19.00 million

  • NLA (sqm) approximate

    5,900 sqm

HNW Trusts

CorVal Mount Gravatt Trust– Realised Investment

The trust owned a B-grade office building, located in Upper Mount Gravatt, Brisbane’s largest suburban office market. The property was refurbished and leased to a number of major corporations, including NAB, Coles, Bunnings and Panasonic.

  • Property

    96 Mount Gravatt-Capalaba Road, Upper Mount Gravatt, QLD

  • Purchase Date

    March 2012

  • Purchase Price

    $15.50 million

  • NLA (sqm) approximate

    7,500 sqm

  • Disposal Date

    January 2017

  • Disposal Price

    $29.75 million

CorVal 75 George Street Trust

The trust owns a B-grade office building, located in the heart of the Parramatta CBD. The property offers large, 1,850 sqm floor plates with good natural light and a high car parking ratio. The building is multi-let with the major tenant, St George Bank, occupying over 70% of the office space. Further information is provided in the “Case Studies” section.

  • Property

    75 George Street, Parramatta, NSW

  • Purchase Date

    January 2013

  • Purchase Price

    $32.55 million

  • NLA (sqm) approximate

    9,500 sqm

CorVal Pennant Hills Trust – Realised Investment

The trust owned an office asset located in Pennant Hills, a Sydney suburban market. The property provides large, sub-divisible floor plates with good natural light and views of Sydney and is multi-let to a number of tenants, including NBN Corporation and other government tenants. This property has since been sold, with further information provided in the “Case Studies” section.

  • Property

    1 City View Road, Pennant Hills, NSW

  • Purchase Date

    September 2013

  • Purchase Price

    $18.75 million

  • NLA (sqm) approximate

    8,500 sqm

  • Disposal Date

    October 2015

  • Disposal Price

    $43.25 million

CorVal Pact Trust

The trust, through wholly owned sub trusts, owns three industrial properties. The properties are 100% leased to the ASX listed Pact Group until 2029 on a triple net basis, with the tenant responsible for all property operating costs, repairs and maintenance and capital expenditure for the term of the leases.

  • Properties

    406 Marion Street, Condell Park, NSW
    13 Joel Court, Moorabbin, VIC
    173 Bannister Road, Canning Vale, WA

  • Purchase Date

    May 2014

  • Purchase Price

    $37.55 million

  • NLA (sqm) approximate

    33,700 sqm

CorVal Ingham Holding Trust

The trust, through wholly owned sub trusts, owns six industrial properties. The properties are 100% leased to the Ingham Group (one of Australia’s largest poultry producers) until 2034 (for five of the properties) and 2039 (for the remaining property). The leases are structured on a triple net basis, with the tenant responsible for all property operating costs, repairs and maintenance and capital expenditure for the term of the leases.

  • Properties

    119-125 Grant Road, Somerville, VIC
    9 Baden Street, Osborne Park, WA
    82 Tasman Highway, Sorell, TAS
    30 Cutrock Road, Lisarow, NSW
    23 Rockford Road, Tahmoor, NSW
    Cormack Road, Wingfield, SA

  • Purchase Date

    November 2014

  • Purchase Price

    $99.67 million

  • NLA (sqm) approximate

    64,500 sqm

CorVal Woolstores Trust

The trust owns 3 former woolstores located in Alexandria, a sub-market to the south of the Sydney CBD. These woolstores have been converted into high quality, creative office space and are leased to a number of tenants including, Thyssenkrupp, Swarovski, Dyson and Herman Miller.

  • Property

    4C-4E Huntley Street, Alexandria, NSW

  • Purchase Date

    April 2015

  • Purchase Price

    $51.75 million

  • NLA (sqm) approximate

    10,000 sqm

CorVal Puma Trust

The trust owns an office building, located in Hamilton, a suburban market between the Brisbane CBD and the airport. The building is under construction and is due to be completed by mid-2016. This property has been acquired on a fund-through basis and is fully leased to Puma Energy, a global oil group, for an initial lease term of 15 years.

  • Property

    MacArthur Avenue, Hamilton, QLD

  • Purchase Date

    August 2015

  • Purchase Price

    $31.23 million

  • NLA (sqm) approximate

    6,000 sqm

Corval 37 Epping Road Trust

The trust owns an office building located in Macquarie Park, Sydney's third largest office precinct, which is 12 kilometres from the Sydney CBD. The building was completed in 2003 and is fully leased to three tenants.

  • Property

    37 Epping Road, Macquarie Park, NSW

  • Purchase Date

    August 2016

  • Purchase Price

    $34.00 million

  • NLA (sqm) approximate

    8,000 sqm

CorVal Workzone Trust

The trust owns an office building located within Perth's City Fringe office/mixed use precinct. the building was recently constructed in 2013 and provides high quality, A-grade office accommodation, which is fully leased to four tenants including CPB Contractors, Telstra and BP.

  • Property

    Workzone East, 1 Nash Street, Perth, WA

  • Purchase Date

    December 2016

  • Purchase Price

    $68.25 million

  • NLA (sqm) approximate

    12,400 sqm

Institutional Mandates

Straits Real Estate Mandate - Realised Investment

114-128 William Street, Melbourne is a multi-leased, B-grade office building located on the corner of William and Little Collins Streets in the financial and legal precincts of the Melbourne CBD. It occupies a corner site and provides four sides of good natural light and views. This property has since been sold.

  • Property

    114 -128 William Street, Melbourne, VIC

  • Purchase Date

    August 2015

  • Purchase Price

    $125.00 million

  • NLA (sqm) approximate

    21,000 sqm

  • Disposal Date

    November 2016

  • Disposal Price

    $161.46 million

Future Fund Mandate – Realised Investment

Waterfront Place is a premium grade office tower located within the “golden triangle” of Brisbane’s CBD, and is leased to a number of major corporations and professional services firms. Acting on behalf of the Future Fund, CorVal acquired a 50% interest in this property from Stockland in 2011. This property has since been sold. Further information is provided in the “Case Studies” section.

  • Property

    1 Eagle Street, Brisbane, QLD

  • Purchase Date

    May 2011

  • Purchase Price

    $432.75 million (100%)

  • NLA (sqm) approximate

    59,500 sqm

  • Disposal Date

    September 2015

  • Disposal Price

    $592.00 million (100%)

Eagle Street Pier is a restaurant and entertainment complex occupying a prime position on the Brisbane River and offering a mix of casual and fine dining. Acting on behalf of the Future Fund, CorVal acquired a 50% interest in this property from Stockland in 2011. This property has since been sold, delivering the Future Fund with a return in excess of the initial return target for this investment.

  • Property

    Eagle Street Pier, Brisbane, QLD

  • Purchase Date

    May 2011

  • Purchase Price

    $32.00 million (100%)

  • NLA (sqm) approximate

    6,200 sqm

  • Disposal Date

    September 2015

  • Disposal Price

    $43.00 million (100%)

Institutional Funds

Value Active Fund

The Value Active Fund (VAF) is an investment vehicle that was established in September 2012 by three large Australian institutions (Future Fund, Victoria Funds Management Corporation and Funds SA) to acquire Australian office and industrial properties.  VAF has acquired eight properties for a total purchase consideration in excess of $570m, three of which were sold in 2015.

  • Property

    160 Ann Street, Brisbane, QLD

  • Purchase Date

    September 2012

  • Purchase Price

    $74.79 million

  • NLA (sqm) approximate

    16,000 sqm

  • Property Description

    The property is a B-grade office building located in the government and legal precinct of the Brisbane CBD. The property is multi-leased on relatively long leases.

  • Property

    9 Hunter Street, Sydney, NSW

  • Purchase Date

    December 2012

  • Purchase Price

    $72.26 million

  • NLA (sqm) approximate

    15,600 sqm

  • Property Description

    The property is a B-grade office building located in the heart of the Sydney CBD. The property is multi-leased to a diverse group of over 20 tenants. Further information is provided in the “Case Studies” section.

  • Property

    45 Pirie Street, Adelaide, SA

  • Purchase Date

    June 2013

  • Purchase Price

    $87.00 million

  • NLA (sqm) approximate

    19,800 sqm

  • Property Description

    The property is an A-grade office building occupying a prime location in the Adelaide CBD. The property is leased to a number of tenants with the major tenant being the state government (Attorney General’s Department.

  • Disposal Date

    August 2017

  • Disposal Price

    $105.0 million

  • Property

    80 Stirling Street, Perth, WA

  • Purchase Date

    June 2013

  • Purchase Price

    $72.15 million

  • NLA (sqm) approximate

    19,700 sqm

  • Disposal Date

    November 2016

  • Disposal Price

    $35.00 million

  • Property Description

    The property is a B-grade office asset located on the northern fringe of the Perth CBD and occupied by Telstra on a short term lease. The property offers an opportunity for future redevelopment as office or a mixed-use scheme.

  • Property

    7-23 Dunmore Drive, Truganina, VIC

  • Purchase Date

    February 2014

  • Purchase Price

    $47.64 million

  • NLA (sqm) approximate

    17,000 sqm

  • Property Description

    The property is a newly constructed, temperature controlled industrial facility located in Truganina, a logistics sub-market to the west of Melbourne. The property is 100% leased to the Montague Group, a cold storage operator, until 2034.

  • Disposal Date

    May 2017

  • Disposal Price

    $66.0 million

  • Property

    67 Albert Avenue, Chatswood, NSW

  • Purchase Date

    May 2014

  • Purchase Price

    $81.64 million

  • NLA (sqm) approximate

    15,000 sqm

  • Property Description

    The property is a multi-leased, A-grade office building, located in the Chatswood sub-market, 10 kms north of the Sydney CBD. The property benefits from excellent access to retail amenities and public transport links, being 100m from the Chatswood interchange and major shopping centres.

  • Property

    140 Arthur Street, North Sydney, NSW

  • Purchase Date

    December 2012

  • Purchase Price

    $39.10 million

  • NLA (sqm) approximate

    8,300 sqm

  • Disposal Date

    August 2015

  • Disposal Price

    $58.20 million

  • Property Description

    The property is a B-grade office building located in North Sydney. CorVal acquired the property in 2012 and successfully implemented a pro-active capex and leasing strategy.

  • Property

    78 Waterloo Road, Macquarie Park, NSW

  • Purchase Date

    September 2013

  • Purchase Price

    $71.80 million

  • NLA (sqm) approximate

    14,900sqm

  • Disposal Date

    December 2015

  • Disposal Price

    $106.00 million

  • Property Description

    The property is an A-grade office building located in Macquarie Park. CorVal acquired the property in 2013, and successfully implemented a pro-active capex and leasing strategy. This asset has since been sold. Further information is provided in the “Case Studies” section.

Private Mandates

Australian Family Office Mandate

  • Property

    485 Dohertys Road, Truganina, VIC

  • Purchase Date

    May 2011

  • Purchase Price

    $57.30 million

  • NLA (sqm) approximate

    69,100 sqm

  • Disposal Date

    August 2016

  • Disposal Price

    $102.50 million

  • Property Description

    The property is a newly constructed distribution centre located in the industrial precinct of Truganina, 19 kms to the west of Melbourne. The property is fully leased to Coles until 2032. Further information is provided in the “Case Studies” section.

  • Property

    520 Smollett Street, Albury, NSW

  • Purchase Date

    November 2012

  • Purchase Price

    $49.10 million

  • NLA (sqm) approximate

    10,800 sqm

  • Disposal Date

    October 2015

  • Disposal Price

    $64.80 million

  • Property Description

    The property is a newly constructed, A-grade office building located in the NSW regional centre of Albury, leased to the Australian Tax Office. This asset has since been sold, delivering its investor with a return in excess of the initial return target for this investment.

German Family Office Mandate

  • Property

    151 Macquarie Street, Sydney, NSW

  • Purchase Date

    June 2014

  • NLA (sqm) approximate

    4,500 sqm

  • Property Description

    The property is a modern, boutique, A-grade office building located on the eastern side of the core precinct of the Sydney CBD. The property is opposite the Royal Botanic Gardens and offers the tenants high quality office space with uninterrupted views across Sydney Harbour. CorVal acquired this property in 2014 on behalf of a German family investment office.