Capitalise on the vast repositioning and value-add potential of a well established sub-regional centre acquired at a deep discount.
The Centuria Manning Mall Fund is a new, single asset wholesale Fund that aims to deliver strong risk adjusted returns by investing in Manning Mall, a modern, convenient centre strategically located in a growth corridor of the NSW Mid North Coast.
Forecast average distribution rate over Fund term1
Target IRR (net of fees)2
Initial Fund term
Minimum investment
Manning Mall is a single level sub-regional centre anchored by a high performing Coles supermarket and complemented by 27 specialty stores. It occupies a prime position along a key commercial street in the heart of Taree’s central business area.
Secured at an opportunistic acquisition price 19% below peak book valuation3 and situated on a substantial 29,740 m2 freehold site, the Centre offers vast repositioning and value-add potential.
Located in the thriving Mid North Coast region of New South Wales, Taree is the largest town in the Mid Coast Council Area, conveniently located only 4km from the Pacific Highway, a major transport route that travels through the region.
As home to the region’s public hospital, schools, airport and train service, Taree is a regional economic hub on the NSW Mid North Coast. With projected population growth of more than double the non-metro average and committed government infrastructure projects, the Fund is poised to benefit from an expanding population and investment in the region.
| Target distribution rate | 8% over initial fund term, paid monthly1 |
|---|---|
| Initial term | 5 years |
| Minimum investment | $100,000 |
| APIR code | CPF3891AU |
| Offer opens | 4 November 2024 |
| Offer closes | 18 November 2024 |
Centuria has significant experience in successfully executing value-add strategies across the retail sector. Currently, the team manages 56 retail assets across Australia with a combined value of $3.1 billion.4
Centuria currently owns and manages three other shopping centres on the NSW north coast and this on-the-ground experience will provide synergies that can be leveraged for the management of Manning Mall.
To find out more about this offer please contact your local Centuria Distribution Manager.
Contact team
All investments in unlisted property funds carry risk. As the Trust invests in retail property it carries the market and property risks associated with investing in this sector, including climate and environmental risks. As a geared investment, the Trust also carries associated financial and leverage risks. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the IM and understand the risks of investing. Centuria and its associates will receive fees in relation to an investment in the Trust as disclosed in the IM. Investment in the Trust is subject to risks including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund.
1. Distributions will be paid if declared by Centuria Property Funds No.3 Ltd and will be subject to the terms, assumptions and risks set out in the Information Memorandum, when available. The rate specified is a forecast only and its achievement or the payment of distributions is not promised or guaranteed.
2. Target IRR applying assumptions including terminal cap rates for the property. The target IRR is subject to due diligence and will be finalised in the Information Memorandum (IM). This target return is not a forecast and is provided for the information of investors only. The target IRR is based on Centuria’s acquisition modelling but is highly contingent on the key future assumptions, which are not contracted or certain. Refer to the IM for further information, including cap rate sensitivities that illustrate the impact on the IRR of changes in the value of the property. No guarantee is made that the target IRR, or any of the assumptions and variables used to calculate the IRR, will be achieved and the actual IRR may differ materially from the target IRR.
3. Elanor Retail Property Fund 1HFY17 Financial Report (ASX:ERF)
4. As at 30 June 2024.
Disclaimer: Centuria Property Funds No.3 Ltd (ABN 63 091 415 833, AFSL 25 09 63) is the trustee for the Centuria Manning Mall Fund. Centuria Property Funds No.3 Ltd is part of the ASX-200 listed Centuria Capital Group (ASX:CNI)(Centuria). The Fund is open to wholesale investors only. Centuria will require certification of your wholesale status prior to investment. This information is general information only and does not take into account the objectives, financial situation or particular needs of any person. You should consider whether this information is appropriate for you and consult your financial or other professional adviser before investing. You should also obtain and read a copy of the IM when available, relating to the Fund before making a decision to invest. Centuria and its associates will receive fees in relation to an investment in the Fund as disclosed in the IM. Investment in the Fund is subject to risks including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund. Information collected by Centuria Capital Group (ASX:CNI) and its subsidiaries may contain personal information. Please refer to our Privacy Policy for information about how we handle your personal information, your rights to seek access to and correct your personal information, and how to complain about breaches of your privacy by CNI. Centuria has also issued a Financial Services Guide which can be accessed on our website.
