Core Property has reviewed the Centuria Sydney CBD Prime Office Fund, a closed-ended unlisted property fund that invests in the “World Square” commercial office building at 680 George St and 50 Goulburn St in Sydney, NSW.
The Responsible Entity (RE) of the Fund is Centuria Property Funds No.2 Limited, a wholly owned subsidiary of Centuria Capital Group (ASX: CNI), a leading Australian and New Zealand property fund manager with $21.8 billion of assets under management.
The Fund intends to acquire a 50% indirect interest in the landmark A-grade Property in the heart of the Sydney Midtown precinct.
- The Property is an institutional-grade asset, with key tenants including Property NSW, ServiceNow, WSP Australia and Southern Cross Austereo. Occupancy is 88.2%, with the RE advising that it is in advanced discussions with potential tenants over the majority of vacant space.
- The Fund has a core investment strategy which seeks to maintain and enhance the lease profile of the Property. The Manager considers the attractive acquisition metrics provide the potential for long term capital growth for investors.
- The RE is targeting distributions of 7.5% p.a.1 in FY27 and FY28.
The RE is seeking to raise $268.0M through the issue of 268.0M units at $1.00 per unit. The Offer is available to retail and wholesale investors with a minimum subscription of $100,000.
Core Property has rated the Fund as RECOMMENDED.
Note 1: The RE intends to pay a coupon rate of interest to investors on application monies from 30 June 2026 up until the day before the settlement date, estimated at 1 September 2026. The coupon interest will be at a rate equivalent to the RBA cash rate plus 0.05% p.a., pro rata for the period. From settlement, the RE is targeting distributions of 7.5% p.a. in FY27 and FY28.