Centuria 25 Grenfell Street Fund

CBD office fund targeting average distributions of 6.5%

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Core Property has reviewed the Centuria 25 Grenfell Street Fund, the latest unlisted property fund by Centuria.

The Fund provides an opportunity to invest in a prominent A-grade office building, located at 25 Grenfell Street, Adelaide SA, in the Adelaide CBD.

The Fund will own a 50% interest in the Property, utilising the combined strengths of Centuria with co-owner, MA Financial, to enhance the building. Plans include upgrades to the building to improve the leasing profile and add further value for investors.

The Manager is forecasting distributions of 7.0% in FY22, increasing to 7.1% in FY23. Core Property estimates average distributions over 5 years to be 6.5%.

The Manager is seeking to raise $48.5M through the issue of 48.5M units at $1.00 per unit. The Offer has a close date of 18 March 2022.

Property has rated the Fund as RECOMMENDED.

Core Property Rating - Recommended

Fund Status - Open

This publication is not and should not be construed as, personal financial product advice, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information (general financial product advice) only. Read more here.