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Centuria Government Income Property Fund

Metropolitan office fund with long term government tenancy targeting 5.25%+ p.a. distributions

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Core Property has reviewed the Centuria Government Income Property Fund, the latest unlisted property fund offering by Centuria.

The Fund provides an opportunity to invest in an A-grade metropolitan office at 1 McNab Avenue, Footscray VIC. The Property was constructed in 2014 and is fully leased with a long Weighted Average Lease Expiry (WALE) of 11.8 years.

The Manager is seeking to raise $133.0M through the issue of 133.0M units priced at $1.00 per unit. The Offer has a close date of 28 July 2021.

The Manager is targeting distributions of 5.25% p.a. in FY22, and 5.35% p.a. in FY23 based on a highly secure income stream  - 91% of gross income is with long term state government leases expiring in 2034.

Core Property has rated the Fund as RECOMMENDED. 

Core Property Rating - Recommended

Fund Status - Closed

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.