Stockwell Northern Beaches Property Trust

Mixed use development in northern Queensland with potential for Value-Add returns

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Core Property has reviewed the Stockwell Northern Beaches Property Trust, an unlisted property fund managed by Stockwell Funds Management.

The Fund provides an opportunity to invest in a mixed use development site in Rural View, Mackay QLD, a region in which the Stockwell has a 20+ year history of development and construction. The Fund offers an exposure to an initial development as well as the potential for further development upside.

The initial development at the site is expected to be completed in August 2021 and includes pre-committed leases for a Mobil petrol station, retail food outlets, a healthcare tenant and gym. Following completion, the Manager is targeting the Fund to deliver an initial distribution of 7.0% p.a.

Over the next few years, the Manager will also look to develop the remainder of the site to further boost returns. This includes plans for a childcare centre as well as industrial and large format retail offerings.

To fund the initial development, the Manager is seeking to raise $10.6M through the issue of 10.6M units at $1.00 per unit. The Offer is available to wholesale and sophisticated investors.

Core Property has rated the Fund as RECOMMENDED.