Centuria Industrial Income Fund No.2

Industrial property fund in well-established precinct in Mackay QLD targeting 6.5%+ distributions

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Core Property has reviewed the Centuria Industrial Income Fund No.2, the latest unlisted property fund offering by Centuria.

The Fund provides an opportunity to invest in a key industrial property located in a well established industrial precinct at 69-79 Diesel Drive, Paget, Mackay QLD.

The Property has a strong lease covenant and is 100% leased to Blackwoods, a wholly owned subsidiary of Wesfarmers (ASX: WES) with a Weighted Average Lease Expiry of 6.1 years.

The Manager is targeting FY23 distributions of 6.50% p.a. (annualised) increasing to 6.75% p.a. in FY24.

The Manager is looking to raise $22.4M through the issue of 22.4 units at $1.00 per unit. The Offer has a close date of 1 December 2022 with a minimum investment of $50,000.

Core Property has rated the Fund as RECOMMENDED.