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The Stables Property Fund

Introduction
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An investment in The Stables Shopping Centre, a Woolworths anchored neighbourhood shopping centre located in Golden Grove, an established residential suburb approximately 22 km northeast of the Adelaide CBD.

Click <here> to visit The Stables Shopping Centre website.



Fund at a glance
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Responsible entity Placer Property Limited
Custodian One Managed Investment Funds Limited
Trust structure Fixed term unlisted property trust
Trust term Ending on or around 30 June 20221
Property asset The Stables Shopping Centre, 1495-1497 Golden Grove Road, Golden Grove SA 5125
Property purchase price $28 million
Valuation $29.2 million at June 2018
Revaluation policy Independently revalued at 30 June each year
WALE (by income) 9.4 years at 30.06.18
Major tenants Woolworths Limited - 60% of property income
HealthSense Medical Centre - 9% of property income
Terry White Pharmacy - 8% of property income
Occupancy 98.6% at June 2018
Distribution Forecast 7.6% in FY19
Issued units 16.5 million
NTA per unit $1.01 at 30.06.2018
Trust borrowings $12.5 million
Loan expiry June 2021
LVR 42.8% at 30.06.20182
ICR 3.37 times as at 30.06.20182
Distributions Quarterly
Withdrawal rights The trust is a fixed term investment with no ongoing liquidity
APIR code PLL0004AU

1 See section 2.3 of the PDS

2 Debt facility covenant



Fund Accounts
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Date Fund Account
30 June 2018 Financial Statements < VIEW PDF >
31 December 2017 Financial Statements < VIEW PDF >
30 June 2017 Financial Statements < VIEW PDF >
31 December 2016 Financial Statements < VIEW PDF >
30 June 2016 Financial Statements < VIEW PDF >


Tax Information
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Financial Year 2016 2017 2018
COMPONENTS    
Tax Deferred 100% 81.30% 97.75%
Taxable 0% 18.70% 2.25%
TOTAL 100% 100% 100%



Distributions
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Financial Year Distribution – Ordinary Units cents per unit
20161
Quarter ended Date paid Cents per uynit1
30 Jun 20162 8 Aug 2016 1.89479



Total   1.89479



1. Ordinary Units received a pro rata distribution at a rate of 7.60% per annum from the unit allotment date in FY 2016.
2. The June 2016 quarter distribution was paid in FY 2017.
2017
Quarter ended Date paid Cents per unit
30 Sep 2016 8 Nov 2016 1.91562
31 Dec 2016 8 Feb 2017 1.91562
31 Mar 2017 8 May 2017 1.88438
30 Jun 2017 8 Aug 2017 1.88438



Total   7.60000



2018
Quarter ended Date paid Cents per unit
30 Sep 2017 8 Nov 2017 1.91562
31 Dec 2017 8 Feb 2018 1.91562
31 Mar 2018 8 May 2018 1.87397
30 Jun 2018 8 Aug 2018 1.89479



Total   7.60000



2019
Quarter ended Date paid Cents per unit
30 Sep 2018 8 Nov 2018 1.9156
31 Dec 2018 8 Feb 2019 1.9156
31 Mar 2019 8 May 2019 -
30 Jun 2019 8 Aug 2019 -



Total -





RG 46 Disclosures
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30 June 2018 < VIEW PDF >
31 December 2017 < VIEW PDF >
30 June 2017 < VIEW PDF >
31 December 2016 < VIEW PDF >


Communications & Media
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  • The Stables Property Fund, Financial Report
    19 March 2018 < view >
  • Investor Newsletter
    1 October 2016 < view >
  • Investment Opportunity for the long-term future
    The Advertiser, 30 August 2016 < view >
  • The Stables Fund Minimum Subscription Date Achieved Early
    25 July 2016 < view >
  • Placer seeking retail investors for $28m Shopping Centre Fund
    Australian Financial Review, 25 May 2016 < view >
  • Launch of The Stable Property Fund
    19 May 2016 < view >
  • Pre Marketing Flyer
    1 March 2016 < view >
  • Golden Grove, Adelaide's new retail precinct due for 2015 completion
    Property Observer, 2 July 2014 < view >
  • $12 million shopping centre approved for the settlement in Golden Grove
    The Australia, 20 March 2013 < view >


PDS
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The Stable Property Fund PDS 9 May 2016 < VIEW PDF >
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