CorVal Ingham Trust
Three sites across VIC, WA and SA
|Property||Three sites across VIC, WA and SA|
|Land Size||1,221,800 sqm|
|Building Size||64,493 sqm GLA|
|Target Equity IRR||10-12%|
Strategic industrial portfolio with secure long-term leaseback.
The CorVal Ingham Trust is an unlisted property trust established to acquire a 50% interest in a portfolio of six properties under a sale and leaseback transaction from Inghams Enterprises.
Each of the properties have specialised industrial style improvements and are of strategic importance to the broader Ingham operation. The properties were leased to Inghams on 20 to 25 year triple net leases with no obligation to fund any capital expenditure.
Three of these properties were realised in January 2020 at a premium to their most recent valuation. A significant return of capital was paid to investors with the sale proceeds.
The Trust strategy focuses on maximising the Trust’s Earnings Per Unit through the yield enhancement generated from the Trust’s loan facility.