Elanor 55 Elizabeth Street (Brisbane) Fund

Brisbane CBD office fund targeting distributions of 10.1%+ p.a.

Core Property has reviewed the 55 Elizabeth Street (Brisbane) Fund, the latest fund established by the ASX-listed Elanor Investors Group (ASX: ENN).

The Fund closed oversubscribed and has acquired a 6-star NABERS rated office building with a secure lease to the Australian Government. The Property, 55 Elizabeth Street, Brisbane QLD, is a high quality, A-grade CBD office building that was purpose built in 2013 for the Australian Taxation Office (ATO). The ATO occupies 97% of the Property on a 15-year lease with the remaining 3% being leased to retail restaurants on the ground floor.

The Manager is forecasting an initial distribution yield of 10.1% p.a. for the remainder of FY24, supported by the secure government lease. The Manager is also targeting capital gains for investors over time.

Core Property has rated the Fund as RECOMMENDED.


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