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Auslink Property Trust No.2 expands government leased portfolio

Auslink Property Trust No.2 expands government leased portfolio

Core Property has reviewed the latest offering from the Auslink Property Trust No.2, by Castlerock Property.

The Fund invests in a portfolio of 11 office properties located across Australia, leased to Federal and State Governments. The Fund metrics are strong with 98% occupancy and a Weighted Average Lease Expiry of 7.8 years.

Around 95% of the fund's rental income is sourced from government tenants which in turn supports predictable and sustainable distributions over the medium to long term. The Manager is forecasting a FY22 distribution yield of 7.2%. The Fund has delivered a strong return of 12.5% p.a. since it launched in 2014.

The Fund is open to new investment with the Manager seeking to raise up to $90M to fund the latest acquisition.

Core Property has rated the Fund as RECOMMENDED.