Core Property reviews the Westlawn Property Trust

Core Property has reviewed the "Westlawn Property Trust" managed by Clarence Property.

The Fund provides an opportunity to invest in a diverse property portfolio in the growth regions of northern NSW and south east QLD. The Manager, Clarence Property, is based in the region and maintains a competitive advantage by focusing on its expertise in the local area.

The core portfolio consists of 13 properties in the office, retail and industrial sectors. The Fund also invests in development projects, including the successful Epiq Lennox development project in Lennox Head NSW. The Manager expects the project to continue to deliver strong profits through to FY22.

The key features of the Fund include:

  • A current Offer Price of $0.95 per unit.
  • The Fund has a reliable 24 year history of paying monthly distributions to investors.
  • Targeted FY19 cash distribution yield of 6.8% (or a gross distribution yield of 8.8% after including franking credits).
  • The Manager plans to continue to grow the Fund, including additional development projects.

Core Property has rated the Fund as RECOMMENDED.