The Stables Property Fund
Introduction
An investment in The Stables Shopping Centre, a Woolworths anchored neighbourhood shopping centre located in Golden Grove, an established residential suburb approximately 22 km northeast of the Adelaide CBD.
Click <here> to visit The Stables Shopping Centre website.
Fund at a glance
| Responsible entity |
Placer Property Limited |
| Custodian |
One Managed Investment Funds Limited |
| Trust structure |
Fixed term unlisted property trust |
| Trust term |
Ending on or around 30 June 20221 |
| Property asset |
The Stables Shopping Centre, 1495-1497 Golden Grove Road, Golden Grove SA 5125 |
| Property purchase price |
$28 million |
| Valuation |
$29.2 million at June 2018 |
| Revaluation policy |
Independently revalued at 30 June each year |
| WALE (by income) |
9.4 years at 30.06.18 |
| Major tenants |
Woolworths Limited - 60% of property income
HealthSense Medical Centre - 9% of property income
Terry White Pharmacy - 8% of property income |
| Occupancy |
98.6% at June 2018 |
| Distribution |
Forecast 7.6% in FY19 |
| Issued units |
16.5 million |
| NTA per unit |
$1.01 at 30.06.2018 |
| Trust borrowings |
$12.5 million |
| Loan expiry |
June 2021 |
| LVR |
42.8% at 30.06.20182 |
| ICR |
3.37 times as at 30.06.20182 |
| Distributions |
Quarterly |
| Withdrawal rights |
The trust is a fixed term investment with no ongoing liquidity |
| APIR code |
PLL0004AU |
1 See section 2.3 of the PDS
2 Debt facility covenant
Fund Accounts
Tax Information
| Financial Year |
2016 |
2017 |
2018 |
| COMPONENTS |
|
|
|
| Tax Deferred |
100% |
81.30% |
97.75% |
| Taxable |
0% |
18.70% |
2.25% |
| TOTAL |
100% |
100% |
100% |
Distributions
| Financial Year |
Distribution – Ordinary Units cents per unit |
| 20161 |
| Quarter ended |
Date paid |
Cents per uynit1 |
| 30 Jun 20162 |
8 Aug 2016 |
1.89479 |
|
|
|
| Total |
|
1.89479 |
|
|
|
1. Ordinary Units received a pro rata distribution at a rate of 7.60% per annum from the unit allotment date in FY 2016.
2. The June 2016 quarter distribution was paid in FY 2017. |
| 2017 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2016 |
8 Nov 2016 |
1.91562 |
| 31 Dec 2016 |
8 Feb 2017 |
1.91562 |
| 31 Mar 2017 |
8 May 2017 |
1.88438 |
| 30 Jun 2017 |
8 Aug 2017 |
1.88438 |
|
|
|
| Total |
|
7.60000 |
|
|
|
|
| 2018 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2017 |
8 Nov 2017 |
1.91562 |
| 31 Dec 2017 |
8 Feb 2018 |
1.91562 |
| 31 Mar 2018 |
8 May 2018 |
1.87397 |
| 30 Jun 2018 |
8 Aug 2018 |
1.89479 |
|
|
|
| Total |
|
7.60000 |
|
|
|
|
| 2019 |
| Quarter ended |
Date paid |
Cents per unit |
| 30 Sep 2018 |
8 Nov 2018 |
1.9156 |
| 31 Dec 2018 |
8 Feb 2019 |
1.9156 |
| 31 Mar 2019 |
8 May 2019 |
- |
| 30 Jun 2019 |
8 Aug 2019 |
- |
|
|
|
| Total |
|
- |
|
|
|
|
|
RG 46 Disclosures
Communications & Media
-
The Stables Property Fund, Financial Report
19 March 2018 < view >
-
Investor Newsletter
1 October 2016 < view >
-
Investment Opportunity for the long-term future
The Advertiser, 30 August 2016 < view >
-
The Stables Fund Minimum Subscription Date Achieved Early
25 July 2016 < view >
-
Placer seeking retail investors for $28m Shopping Centre Fund
Australian Financial Review, 25 May 2016 < view >
-
Launch of The Stable Property Fund
19 May 2016 < view >
-
Pre Marketing Flyer
1 March 2016 < view >
-
Golden Grove, Adelaide's new retail precinct due for 2015 completion
Property Observer, 2 July 2014 < view >
-
$12 million shopping centre approved for the settlement in Golden Grove
The Australia, 20 March 2013 < view >
PDS
|
|
Photo Gallery
|
