The trust owns the 6-level high quality and well located A grade office building constructed for swiss pharmaceutical company, Novartis, in 2015. The specifications and quality of the building is superior to many of the typical office buildings within Macquarie Park, with features including high speed glass lifts, glass atrium area incorporating internal stairs and extensive end of trip facilities.
The trust owns a state-of-the-art packing and distribution facility, that upon completion in 2020, will be fully leased to Montague for an initial term of 20 years. Operating for over 70 years Montague is a well established grower and distributor in the fresh fruit industry, with long standing relationships with both major supermarkets in Australia, Coles and Woolworths.
This Fund has been established to build a portfolio of Manufactured Housing Estate (MHE) properties under a “develop to own” strategy, providing Australia’s ageing population with attractive, affordable accommodation.
A MHE is a land lease community in which residents acquire and own their own individual home but lease the land, upon which the home is built, from the owner of the estate under long term Site Agreements.
The Fund has partnered with Vivacity, a specialist operator of MHE property assets that will be responsible for sourcing and acquiring sites, developing the respective MHE properties, marketing the individual MHE properties to residents as well as the ongoing operation of the completed estates.
An initial equity raise for the RF CorVal Manufactured Housing Estate Fund was completed in August 2019 raising circa $37.9 million of equity.
The trust owns the 17 level B grade office tower centrally located within the Adelaide CBD. It is well serviced by public transport, with access to trams at Victoria Square (200 m away) and the Adelaide Railway Station (700 m), and is located in the immediate proximity to Adelaide's major thoroughfare, King William Street, Rundall mall and the recently upgraded Victoria Square.
26 Flinders Street, Adelaide, SA
The trust owns the 16 level Corporate Centre One A grade office tower and adjoining 11 level Wyndham Corporate Centre A grade office tower, together with a 24 hour fitness centre and 399 car parking bays.
Gold Coast Corporate Centre, Bundall, QLD
The trust owns a state of the art feedmill facility, that upon completion in 2018, was fully leased to the ASX listed Inghams Group for an initial term of 25 years (plus an additional five x 10 year options).
662 Flagstaff Road, Murray Bridge, SA
The trust has a 50% economic interest in the property located at 848-950 Boundary Road, Truganina. The property comprises approximately 87 ha and is a regular shaped parcel of land located to the north of Boundary Road with an approximate street frontage of 1,620 metres.
848-950 Boundary Road, Truganina, Victoria
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.
Workzone East, 1 Nash Street, Perth, WA
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.
37 Epping Road, Macquarie Park, NSW
The trust owns an office building, located in Hamilton, a suburban market between the Brisbane CBD and the airport. This property was 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.
MacArthur Avenue, Hamilton, QLD
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, Logitech and Living Edge.
4C-4E Huntley Street, Alexandria, NSW
The trust, through wholly owned sub trusts, currently owns three industrial properties, having sold three others in January 2020. The properties are 100% leased to the Ingham Group (one of Australia’s largest poultry producers) until 2034 (for two 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.
119-125 Grant Road, Somerville, VIC
9 Baden Street, Osborne Park, WA
82 Tasman Highway, Sorell, TAS (SOLD)
30 Cutrock Road, Lisarow, NSW (SOLD)
23 Rockford Road, Tahmoor, NSW (SOLD)
Cormack Road, Wingfield, SA
January 2020 (three of six properties sold)
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.
406 Marion Street, Condell Park, NSW
13 Joel Court, Moorabbin, VIC
173 Bannister Road, Canning Vale, WA
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.
1 City View Road, Pennant Hills, NSW
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.
75 George Street, Parramatta, NSW
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.
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.
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, RF 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.
1 Eagle Street, Brisbane, QLD
$432.75 million (100%)
$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, RF 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.
Eagle Street Pier, Brisbane, QLD
$32.00 million (100%)
$43.00 million (100%)
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 acquired eight properties for a total purchase consideration in excess of $570m, which have all now been sold, having executed the relevant asset management strategies and delivered superior risk-adjusted returns to the investors.
160 Ann Street, Brisbane, QLD
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.
9 Hunter Street, Sydney, NSW
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.
45 Pirie Street, Adelaide, SA
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.
80 Stirling Street, Perth, WA
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.
7-23 Dunmore Drive, Truganina, VIC
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.
67 Albert Avenue, Chatswood, NSW
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.
140 Arthur Street, North Sydney, NSW
The property is a B-grade office building located in North Sydney. RF Corval acquired the property in 2012 and successfully implemented a pro-active capex and leasing strategy.
78 Waterloo Road, Macquarie Park, NSW
The property is an A-grade office building located in Macquarie Park. RF 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.
The Value Active Fund 2 (VAF2) is an investment vehicle that was established in September 2017 by Victoria Funds Management Corporation and Funds SA, two of Australian largest institutional investors to acquire Australian office and industrial properties. To date, VAF2 has acquired three properties for a total purchase consideration in excess of $240m.
66 St Georges Terrace, Perth, WA
The property is an A-grade office building located in the heart of the Perth CBD. The property is multi-leased but was acquired with some vacancy, much of which has been leased since acquisition.
71 Gipps Street, Collingwood, VIC
The property is currently under construction and, on-completion will offer a high quality, boutique office property in the fringe Melbourne market of Collingwood. The property has been acquired on a fund-through basis and benefits from a pre-commitment to IWG (previously Regus) over 40% of the space.
The Octagon, 110 George Street, Parramatta, NSW
The property is a B-grade office building occupying a large, central site in the Parramatta CBD. The property is primarily leased to government tenants and presents a number of future strategies, including refurbishing and repositioning the existing building or potentially undertaking a large-scale office redevelopment.
485 Dohertys Road, Truganina, VIC
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.
520 Smollett Street, Albury, NSW
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.
151 Macquarie Street, Sydney, NSW
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. RF Corval acquired this property in 2014 on behalf of a German family investment office.
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 RF 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.
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.
17 O'Riordan Street, Alexandria, NSW
$71.00 million (100%)
$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.
17 Moore Street, Canberra, ACT