CorVal Puma Office Trust
365 MacArthur Avenue, Hamilton QLD 4007
|Property||365 MacArthur Avenue, Hamilton QLD 4007|
|Land Size||3,552 sqm|
|Building Size||6,019 sqm NLA|
|Target Equity IRR||10-12%|
Fund-through head office development for global oil group.
The CorVal Puma Office Trust is an unlisted property trust established to acquire the Puma Energy head office building in Hamilton QLD on a fund-through basis.
The Property is located within the Northshore Hamilton urgan renewal precinct, approximately 6 kilometres from the Brisbane CBD. Following completion of the construction works, improvements to the Property now comprise a modern office building of approximately 6,019sqm along with car-parking for 225 cars. The Property is fully leased to Puma as the sole tenant for an initial 15 year term, together with 4 x 10 year options.
The Trust strategy centres around the acquisition and construction fund-through, following which the focus turns to maximising the Trust’s Earnings Per Unit by the yield enhancement generated from the Trust’s loan facility.