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333 Exhibition Street Property Fund

Introduction
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Placer Property is proud to offer the 333 Exhibition Street Property Fund to investors looking for strong, secure income flowing from a CBD Commercial Property Asset.

Investment fund features

  • 6.5% p.a. forecast distribution yield for FY18 and FY19
  • Secure, stable income flowing from A-Grade tenant
  • Low volatility investment fund with quarterly returns
  • Rare opportunity to invest directly into a CBD commercial real estate asset
  • Significant co-investment by investment manager
  • Attractive Self-Managed Super Fund ('SMSF') property investment opportunity
  • Defined investment and exit strategy managed by an experienced team
333 Exhibition Street Property Fund Flyer >


Investment fund at a glance
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The 333 Exhibition Street Property Fund (Fund) owns the commercial office component of 333 Exhibition Street, Melbourne (Property).

Responsible entity Placer Property Limited
Custodian Perpetual Corporate Trust Limited
Trust structure Fixed term unlisted property trust
Trust term Ending on or around 30 June 20241
Property asset 333 Exhibition Street, Melbourne VIC 3000
Property purchase price $38.4 million
Valuation $40 million at February 2018
Revaluation policy Independently revalued at 30 June each year, from 2019
WALE (by income) 4.9 years at March 2018
Major tenants The University of Melbourne
Occupancy 100%
Distribution Forecast 6.5% p.a. in FY18 and FY19
Issued units 23.5 million2
NTA per unit Estimated to be $0.93 as at the Minimum Subscription Date2
Trust borrowings $25.03 million estimated to be reduced to $19.6 million3
Loan expiry 12 December 2022
LVR 47.1% at the Minimum Subscription Date4
ICR 3 times cover as at the Minimum Subscription Date2,5
Distributions Pro-rata, quarterly6
Withdrawal rights The trust is a fixed term investment with no ongoing liquidity
APIR code PLL2183AU
Date commenced February 2018
Minimum investment $20,000

Core Property Unlisted Fund Report7

1 See section 2.3 of the PDS
2 The Minimum Subscription Date is currently 31 October 2018; see section 2.2 of the PDS
3 See section 2.4 of the PDS
4 Immediately following the Minimum Subscription Date, based on drawn debt
5 Debt facility covenant; see section 2.4 of the PDS
6 The first distribution will be made for the period ending 30 June 2018
View further information and the fund’s ratings by downloading a copy of Core Property’s independently prepared Unlisted Property Fund Report.


Property Description
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The Property at the heart of the 333 Exhibition Street Property Fund is a six-level commercial office building located on a prominent corner site at the intersection of Exhibition and La Trobe Streets in Melbourne’s central business district.

The Property forms part of a mixed-use strata-titled development, which includes the Mantra on the Park serviced apartments accommodation, ground floor retail, and a multi-level car park. The Property has a net lettable area of approximately 6,528 sq.m and is 100% leased to The University of Melbourne.


Property Location
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Communications & Media
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  • 333 Exhibition Street Property Fund update following successful Minimum Subscription
    17 July 2018 < view >


Photo Gallery
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