NewActon East Property Fund
Introduction
NewActon East is a modern eight level mixed use building comprising a small retail area, major office component, 32 residential apartments on the upper levels and 176 car parking spaces.
The Fund was launched is September 2014 and has acquired the commercial part of NewActon East, which includes the ground floor office and retail areas, the four level office space occupied by the ACCC, plus 115 car parking spaces, together totalling 7,503 square meters of gross lettable area. The residential component of NewActon East is not part of the Property and is not being acquired by the Fund.
The Property is located at 21-23 Marcus Clarke Street, Canberra, Australian Capital Territory. The Property is situated in the NewActon precinct, which is located at the south western zone of the Canberra CBD and is three kilometres from Parliament House.
Fund at a glance
| Responsible entity |
Placer Property Limited |
| Custodian |
Perpetual Corporate Trust Limited |
| Trust structure |
Fixed term unlisted property trust |
| Trust term |
Ending on or around 30 June 20211 |
| Property asset |
NewActon East, 21-23 Marcus Clarke Street, Canberra ACT |
| Property purchase price |
$45.01 million |
| Valuation |
$51 million at June 2018 |
| Revaluation policy |
Independently revalued at 30 June each year |
| WALE (by income) |
5.1 years at 30.06.2018 |
| Major tenants |
Australian Competition and Consumer Commission (ACCC) –
78% of property income
Colliers International – 10% of property income |
| Occupancy |
98.2% as at June 2018 |
| Distribution |
Forecast 8% in FY2019 |
| Issued units |
26.5 million |
| NTA per unit |
$1.065 at 30.06.2018 |
| Trust borrowings |
$22.5 million |
| Loan expiry |
30 June 2021 |
| LVR |
44.1% at 30.06.20182 |
| ICR |
3.16 times at 30.06.20182 |
| Distributions |
Quarterly |
| Withdrawal rights |
The trust is a fixed term investment with no ongoing liquidity |
| APIR code |
PLL0002AU |
1. See section 2.4 of the PDS
2. Debt facility covenant |
Fund Accounts
Tax Information
| Financial Year |
2015 |
2016 |
2017 |
2018 |
| COMPONENTS |
|
|
|
|
| Tax Deferred |
100% |
77.81% |
67.23% |
62.35% |
| Taxable |
0% |
22.19% |
32.77% |
37.65% |
| TOTAL |
100% |
100% |
100% |
100% |
Distributions
| Financial Year |
Distribution – Ordinary Units cents per unit |
| 20151 |
| Quarter ended |
Date paid |
Cents per unit1 |
| 31 Dec 2014 |
9 Feb 2015 |
1.95342 |
| 31 Mar 2015 |
8 May 2015 |
1.91096 |
| 30 Jun 20152 |
7 Aug 2015 |
1.93219 |
|
|
|
| Total |
|
5.79657 |
|
|
|
1. Ordinary Units received a pro rata distribution at a rate of 7.75% per annum from the unit allotment date in FY 2015 and 8.60% in FY 2016.
2. The June 2015 quarter distribution was paid in FY 2016. |
| 2016 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2015 |
9 Nov 2015 |
2.16939 |
| 31 Dec 2015 |
8 Feb 2016 |
2.16939 |
| 31 Mar 2016 |
9 May 2016 |
2.13061 |
| 30 Jun 2016 |
8 Aug 2016 |
2.13061 |
|
|
|
| Total |
|
8.60000 |
|
|
|
|
| 2017 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2016 |
8 Nov 2016 |
2.19288 |
| 31 Dec 2016 |
8 Feb 2017 |
2.19288 |
| 31 Mar 2017 |
8 May 2017 |
2.15712 |
| 30 Jun 2017 |
8 Aug 2017 |
2.15712 |
|
|
|
| Total |
|
8.70000 |
|
|
|
|
| 2018 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2017 |
8 Nov 2017 |
2.19288 |
| 31 Dec 2017 |
8 Feb 2018 |
2.19288 |
|
| 31 Mar 2018 |
8 May 2018 |
2.14521 |
|
| 30 Jun 2018 |
8 Aug 2018 |
2.16904 |
|
|
|
| Total |
|
8.7000 |
|
|
|
|
| 2019 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2018 |
8 Nov 2018 |
2.0164 |
| 31 Dec 2018 |
8 Feb 2019 |
2.0164 |
| 31 Mar 2019 |
8 May 2019 |
- |
| 30 Jun 2019 |
8 Aug 2019 |
- |
|
|
|
| Total |
|
- |
|
|
|
|
|
RG 46 Disclosures
Communications & Media
-
NewActon East Property Fund, Financial Report
19 March 2018 < view >
-
Update on Twenty-One Cafe and Grocery Store
16 March 2018 < view >
-
Investor Newsletter
1 October 2016 < view >
-
NewActon East Valuation and Distribution Increase
13 July 2016 < view >
-
Investor Newsletter
1 May 2016 < view >
-
Investor Newsletter
1 September 2015 < view >
-
NewActon East FY16 Distribution Forecast Increase to 8.60%
10 June 2015 < view >
-
Now on HUB24 Platform
1 May 2015 < view >
-
First Close Date Confirmed
30 March 2015 < view >
-
Investor Newsletter
1 March 2015 < view >
-
First Distribution Payment
10 February 2015 < view >
-
Now 100% Leased
11 November 2014 < view >
PDS
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Photo Gallery
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