RF CorVal Montague Trust

10-18 Horswood Road, Lysterfield VIC 3156

Property Information

Property10-18 Horswood Road, Lysterfield VIC 3156
CommencementAugust 2019
Land Size13 hectares
Building Size18,000 sqm NLA
Purchase Price$32.5m
Target Equity IRR10-12%

Strategic industrial asset with secure lease back.

The RF CorVal Montague Trust is an unlisted property trust established to facilitate the development of the Montague Group fruit packing and distribution facility in Narre Warren, Victoria. The facility is leased back to the Montague Group for an initial 20-year term, with three further options.

The Property will replace Montague’s current packing facility, and will allow them to double their handling and packing capacity and significantly improve efficiency, with state of the art packing and sorting equipment to be installed and funded by Montague themselves. The facility is strategically located, adjoining Montague’s existing facilities that comprises cold stores, fruit processing facilities, residences and orchards.

Construction of the facility was completed in December 2020. The Trust strategy now focuses on maximising the Trust’s Earnings Per Unit through the benefits of the Trust’s loan facility.

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