Core Property reviews the Stronghold Precincts Property Fund

Core Property reviews the Stronghold Precincts Property Fund

Core Property has reviewed the Stronghold Precincts Property Fund, an open-ended property fund that invests in commercial properties located in metropolitan business parks. The Fund is managed by Stronghold, a specialist fund manager focused on business park and hospitality assets. Stronghold is majority owned by the Graystone Group, a recognised property developer and manager of business parks in southeast Queensland.

The Fund continues to expand its investments in well located business parks across southeast Queensland, which includes the Brisbane Technology Park, the largest commercial business park in Queensland. The Fund also invests in business parks in Darra and North Lakes QLD and is looking to acquire an interest in the Northshore Hamilton business park which forms part of an urban renewal project and is adjacent to a planned Olympics precinct. Over time the Manager is looking to invest in further business parks and build the portfolio to over $400M of assets.

The Fund is open-ended and investors may purchase units on a monthly basis, with the current Issue Price of $1.1068 per unit (at July 2022).

The Manager is targeting a distribution yield of 7.0% p.a. (annualised) through to December 2022 and 6.0% p.a. in 2023, based on the current Issue Price.

Core Property has rated the Fund as RECOMMENDED.