Acquisitions

Returns on property investments have improved following the global economic crisis. Although rental growth has slowed, the drop in interest rates has led to most acquisitions being cash flow positive from inception. This resulted in distributable returns improving considerably.

Here are some examples of OzProp’s recent acquisitions that the company has been able to capitalise on for the benefit of investors:

Coffs-Harbour1

NSW “Home Central”
1 Gerard Drive, Coffs Harbour

Modern, fully leased Bulky Goods retail centre located in an established and dominant retail precinct in central Coffs Harbour.

The precinct includes the adjoining Homebase Homemaker Centre (Harvey Norman and Office works) as well as Park Beach Plaza Sub- Regional Shopping centre with tenants such as Woolworths, Aldi, Supa IGA, Big W and Target.

The 6.544 m2 complex situated on 1.69 hectares of land is 100% leased to only three National and Chain brand tenants: Pillow Talk, Choice Variety and Spotlight. The highly convenient centre features a large grade level car park for some 182 vehicles.

The improvements comprise a purpose built cold store facility with ancillary office provided over a single level constructed of tilt panels. The property has extensive solar power systems, a stand by generator and its own bore hole.

 

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acanthus

Darra, QLD
47 Acanthus Street, Darra, QLD

The property comprises a modern, fully leased, logistical/cold storage facility located in an established and dominant industrial precinct approximately 20 minutes from Brisbane.

The 3,844 m2 complex situated on 9,336 sqm of land with 2,000 sqm of hardstand is 100% leased to Comgroup Supplies Pty Ltd, a privately held food manufacturer and packaging for IQF (Individually Quick Frozen) foods.

The improvements comprise a purpose built cold store facility with ancillary office provided over a single level constructed of tilt panels. The property has extensive solar power systems, a stand by generator and its own bore hole.

 

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brunswick

Fortitude Valley, Brisbane
100 Brunswick Street, Fortitude Valley, Brisbane, QLD

Consisting of a 2 story fully refurbished office building located 1,200 m from the CBD of the capital city of Queensland, Brisbane. The building is fully leased with development approval for constriction of an additional floor to increase NLA by 50%.

Ground floor is occupied by a long term education tenant on a 5 year lease, 1st floor is occupied by an engineering and design company on a 5 year lease with options.

The site is well located on 2 street frontage and contains 18 onsite car par parks, is walking distance to train station, bus, the CBD, and major tranmsport links. The building is stand alone with an existing NLA of 1,050 sqm on a site area of 1,164 sqm.

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Lahrs

Lahrs Road, Ormeau
84 Lahrs Road, Ormeau, QLD

The property comprises a modern, fully leased, logistical/cold storage facility located in an established and dominant industrial precinct along the M1/Pacific Motorway approx.42 km/30 min from Brisbane.

The 7,485 m2 complex situated on 2,12 hectares of land is fully leased to a 100% subsidiary of an ASX listed entity.

 

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81 -87 NOOSA DRIVE, NOOSA HEADS, QLD

Noosa Junction,
81 -87 NOOSA DRIVE, NOOSA HEADS, QLD

Ideally situated on the busy corner in a key location in the main commercial street of Noosa Heads, Noosa Junction is a neighbourhood shopping centre anchored by a Prince’s SUPA IGA, Target Country and the SOGO Irish Pub.  

The property is currently 69% leased to ASX listed tenants, Metcash and Wesfarmers. The occupancy rate is currently 92% and it measures approximately 5,094 m2 of floor area on a 7,904 m2 site. 

The investment strategy included negotiating a fresh 15-year lease agreement with Metcash combined with a significant internal store refurbishment within 2 years. In addition, the trust will undertake a light refurbishment, reposition some tenancies and install travelators to the underground car parking area.

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blackwood

40 - 48 Blackwood Street,
Mitchelton, QLD

An established neighborhood center located in a mature area in Brisbane.

The centre is currently 95% occupied and is located opposite a train station on a boutique retail strip located in Brisbane suburb.

The investment strategy includes a refurbishment and repositioning of tenants to enhance both the income and value of the asset.

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gladstone

Gladstone Centre,
85 Sun Valley Road, Gladstone, QLD

Modern, fully leased retail Centre constructed in 2007 located within 2 klms of the Gladstone CBD.

It is anchored by ASX listed IGA Metcash, who operate a 2199 m² store leased until 2027. In addition there are 12 specialty stores including a gym. The Centre’s gross floor area measures 4411 m², and its located on a 16 150m² site.

With a convenient parking for 284 cars, attractive tenant mix the Centre is an attractive shopping destination for the neighborhood.

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244-coward-streetv2

244 COWARD STREET,
MASCOT, SYDNEY

 

244 Coward Street Mascot Sydney NSW is a recently completed commercial building located opposite Mascot train station with a prominent corner exposure to Bourke Road, 1km from Sydney airport and some 6.5 kms from the Sydney CBD.

The property was acquired with vacant possession. The strategy was to complete works to achieve occupancy certificate and achieve 80% occupancy within 18 months. The building has now been completed, the occupancy certificate issued, 3 new tenancies have been placed, and recently sold due to an unsolicited offer.

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mountview-plaza--50-bamford-lane-townsvillev1

MOUNTVIEW PLAZA,
50 BAMFORD LANE, TOWNSVILLE, QLD

Established neighborhood shopping center located in a mature area of Townsville.

The centre is partially vacant and requires a minor refurbishment and tenant repositioning providing a potential for increased gains in income and capital value. It is anchored by a corporate owned Supa IGA (backed by a guarantee from the ASX listed company Metcash Ltd) and an additional 4 specialty tenants. The centre has potential for up to 9 specialties plus the opportunity to develop an additional pad site or subdivide vacant land, subject to council approval.

Townsville is Queensland 4th largest city and the largest city by population in the state of Northern Queensland. Townsville is home to one of Australia’s largest military bases and ports.

Since taking possession 450 m2 has been leased to Fruit for Less and the refurbishment has commenced. Marketing of the vacancies will commence on completion of the works.

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260-brisbane-str-west-ipswichv1

QT Centre,
260 Brisbane street, West Ipswich, QLD

The QT Centre is located centrally in the West Ipswich retail and business area.

Ipswich is the 5th largest city in the state of Queensland and is located approximately 45 minutes from Brisbane. The QT Centre is located on a main road and is situated in the middle of a major retail business area.

QT Centre is 91% leased to 4 tenants and is anchored by an ASX listed company APN News and Media, plus well known retailers such as Battery World, CETNAJ Electrical suppliers and a gym. The building underwent a major refurbishment in 2014, requires no further CAPEX and offers good depreciation benefits. The property also includes a small parcel of vacant land which subject to council approval could be either subdivided or developed to residential or commercial space.

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2-newspaper-place-moorichidorev2

Newspaper Place,
2 Newspaper Place, Maroochydore, QLD

A single level building comprising of office and administration areas and an adjoining warehouse. The property consists of approximately 2,965m² of floor area on a 16,230m² site.

Situated approximately two kilometers by road from Maroochydore CBD and offering excellent access to all areas of the Sunshine Coast via the Sunshine Motorway, which is located at the properties southern boundary.

The property was acquired on a sale and leaseback from an ASX listed Australian entity as their regional headquarters until 2022 with options thereafter.

The Investment strategy was primarily to obtain a secure long term income stream, the Manager had identified that the yield could be enhanced by subdividing the underutilized land attached to the property. All development and operational works approvals were obtained and just prior to implementation the Trust received an unsolicited offer which was 40.56% above the purchase price after all costs. The Trust elected to sell which resulted in an Internal Rate of Return of 25% on equity.

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margate-medicalMargate Medical Centre,
279 - 287 Oxley Ave, Margate, QLD

A medical centre located centrally in the Margate Village, approximately 26km north east of the Brisbane CBD.

Situated on a main road and taking up a full block ensuring prominent position, it is situated opposite public transport stop and the Margate Village Shopping Centre anchored by a Woolworths supermarket,

The property consists of approximately 1,147 m2 of  floor area on 3,240 m2 of land with ample parking.

Fully leased to 4 medical users and a Government department.

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the-hubThe Hub,
115-117 Buckley Road, Burpengary, QLD

The Hub is a retail property located in the suburb of Burpengary in South East QLD.

Burpengary straddles both sides of the Bruce Highway. Burpengary is one of the Caboolture Shire's fastest growing residential areas.

Measuring 867 m² and with ample carparking this retail property is leased to SPAR until 2029  with options thereafter, offering a long term secure income stream.

Redeveloped in 2009 it is in pristine condition and requires no Capex. 

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