CorVal Property Trust No 2

Two sites in the ACT and NSW

Property Information

PropertyTwo sites in the ACT and NSW
CommencementJune 2011
Purchase Price$54.5m
Sale Price$75.7m
Equity IRR13%
Equity Multiple1.8x

Income producing portfolio secured by government tenancies.

The CorVal Property Trust No 2 is a retail property trust established in June 2011 to provde investors with regular income distributions supported by two long-term Commonwealth Government leases.

The Trust, via investments in two separate trusts had an exposure to two property assets, namely:

  • 100% of the property located at 17 Moore Street, Canberra, which comprised a seven level office building located in the Canberra CBD wholly leased to the Commonwealth Government (Department of Education, Employment and Workplace Relations) through until 31 October 2016. This property was sold in December 2018.
  •  49.99% of the property at 17 O’Riordan Street, Alexandria which comprised a three level purpose built commercial office, warehouse and laboratory facility, fully leased to the Australian Red Cross Blood Service through until 27 January 2031. This property was sold in July 2016.

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