Commercial acquisition in Queensland
Since the global economic crisis, the returns we are achieving on commercial acquisitions and other property investments has improved greatly. Although rental growth has slowed due to the low inflationary environment, low interest rates have led to most acquisitions being cash flow positive from inception. This has resulted in improved distributable returns.
Here are just a few examples of OzProp’s recent acquisitions that the company has been able to capitalise on for the benefit of investors:
OIT OzProp Blanck St Class Of Units
The property comprises a modern, fully leased, logistical facility located in an established and dominant Ormeau industrial precinct.
The area is underpinned by major road infrastructure and linkages to Brisbane, Gold Coast, NSW and Ipswich via the M1 and to the north Logan Motorways and access to the Brisbane Airport and Port.
The 5,081 m2 complex situated on 9,336 sqm of land is 100% leased to the wholly owned subsidiary of the multinational Arcelik Group which is ranked in the Fortune 500 Global list.
The asset is 100% owned by the OzProp Blank Street Trust issued by OzProp Investment Trust.
OIT OzProp FV Class Of Units
Consisting of a two-level fully refurbished office building located 1,200 meters from the Brisbane CBD. The building is fully leased with development approval for constriction of an additional floor to increase NLA by 50%.
Tenanted to a long term education tenant and an engineering and design company, The building is stand alone with an existing NLA of 1,050 sqm on a site area of 1,164 sqm.
The site is well located on a site with 2 street frontages and contains 18 onsite car par parks, is within walking distance t train station, bus, the CBD, and major transport links.
OIT OzProp LC2 Class Of Units
The property comprises a modern, fully leased, logistical/cold storage facility located in an established and dominant industrial precinct being South West Industrial Gateway situated west of the Queensland state capital of Brisbane.
The 3,844 m2 complex situated on 9,336 sqm of land is 100% leased to a food manufacturer and packaging for IQF (Individually Quick Frozen) foods.
The improvements comprises of a 13 meters high cold storage facility with an ancillary office provided over a single level constructed of tilt panels.
Access to the loading dock is provided via seven roller shutter doors with levelers. Other improvements to the site include 2,000 sqm concrete hard stand for on-site parking, extensive solar power systems, a stand by generator and its own bore hole.
OIT OzProp LC Class Of Units
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 sqm complex is situated on 2,12 hectares of land and is fully leased to a 100% subsidiary of an ASX listed entity.
The asset is 100% owned by the OzProp OLC Trust issued by OzProp Investment Trust
OIT OzProp HC (Coffs Harbour) Class Of Units
“Home Central” Retail Centre comprises a modern, fully leased, retail complex located in an established and dominant retail precinct in central Coffs Harbour in NSW.
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 sqm 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 and has a large grade level car park for 182 vehicles.
The asset is 100% owned by the OzProp HC Trust issued by OzProp Investment Trust.
OIT OzProp Noosa Junction Class Of Units
Noosa Junction Plaza is located centrally in Noosa Heads, approximately 140 km north east of the Brisbane CBD.
Noosa Heads is a world-renowned area in Queensland. The Noosa Junction Plaza Shopping Centre is located in the prime Commercial Precinct on the corner of Noosa Drive and Sunshine Beach Drive.
Noosa Junction Plaza is a modern fully enclosed shopping centre anchored by a full line 2,153 sqm Supa IGA supermarket, a 1,395 sqm Target Country, a 236 sqm Terry White Chemist and the 284 sqm Sogo Irish Pub. In addition, there is a further 1,062 m2 of retail specialty tenancies bringing the total Gross Lettable Area (GLA) to 5,130 sqm.
The asset is 100% owned by the OzProp NJ Trust issued by OzProp Investment Trust.
OIT OzProp Margate Medical Class Of Units
Margate Medical Centre is located centrally in the Margate Village, approximately 26 km north-east of the Brisbane CBD.
Margate is a residential suburb of Brisbane (the capital city of Queensland). The Margate Medical Centre is located centrally within the Margate Village Commercial Precinct, which recently underwent a $6 million major redevelopment.
Margate Medical Centre is fully leased to tenants: Lime Radiology, At Work Australia, Smile Dental, Centre Link and Medicare. The building is newly completed in 2010/2011, and has performed well, maintaining a high-level occupancy.
The asset is 100% owned by the OzProp MM Trust issued by OzProp Investment Trust.
OIT OzProp Gladstone Shopping Centre Class Of Units
The centre is an established neighborhood shopping centre located in a mature area of Gladstone.
Anchored by a corporate-owned Supa IGA and offering ample grade parking this centre is conveniently situated opposite schools.
The asset is 100% owned by the OzProp Gladstone Shopping Centre Class of units issued by OzProp Investment Trust.
OIT OzProp Mascot Property Class Of Units
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, 1 km 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 an occupancy certificate and achieve 80% occupancy within 18 months. The building was completed, tenanted and sold due to an unsolicited offer.
OIT - OzProp Newspaper Place Class Of Units
A single level building comprising of office and administration areas and an adjoining warehouse. The property consists of approximately 2,965 sqm of floor area on a 16,230 sqm 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 property’s 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 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 implementing 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.
OIT - OzProp Blackwood Class Of Units
An older, established neighbourhood centre located in a mature area in Brisbane.
The centre is currently 100% occupied and is located opposite a train station on a boutique retail strip located in suburban Brisbane. The investment strategy included a refurbishment and repositioning of tenants to enhance both the income and value of the asset. This was successfully completed and the Trust has been providing a stable annual income stream.
The asset is 100% owned by the OzProp Blackwood Class Units issued by OzProp Investment Trust.
OIT - OzProp QT Centre Class Of Units
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 the main road and is situated in the middle of a major retail business area.
QT Centre is leased to 4 tenants and is leased to ASX listed company NewsCorp, plus well-known retailers such as Battery World, CETNAJ Electrical suppliers, a gym and a Health and Wellbeing centre. 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.
The asset is 100% owned by the OzProp QT Centre Trust issued by OzProp Investment Trust.
OIT - OzProp Townsville Class Of Units
Established neighbourhood shopping centre located in a mature area of Townsville.
The centre was acquired partially vacant and required a minor refurbishment and tenant repositioning. This has been achieved, thereby providing increases 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 the 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 Northern Queensland. Townsville is home to one of Australia’s largest military bases and ports.
The asset is 100% owned by the OzProp Townsville Class of units issued by OzProp Investment Trust.