If you are an existing investor, you can access information about your holdings on our Centuria Investor website. You can invest in the Centuria Diversified Property Fund using the online application form.
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30 June distributions and end of year tax statement availability
Financial year end, including finalising tax components to the FY25 distribution, will cause a slight delay to June 2025 distribution payments. As a result, your distribution payment will be made on or around the 25 July 2025, which is similar to prior years. Furthermore, financial year 2025 tax statements will be issued on or around 29 August 2025.
The Centuria Diversified Property Fund (CDPF) merged with the Primewest Property Income Fund (PPIF) on 27 May 2022.
Download RG97 Fees Disclosure, RG46 Disclosure and Quarterly Fund Update.
| Date | Continuous disclosure |
|---|---|
| 17/04/25 | The Fund provides a limited liquidity facility on a quarterly basis. The March 2025 redemption facility applied approximately 86% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 17/01/25 | The Fund provides a limited liquidity facility on a quarterly basis. The December 2024 redemption facility applied approximately 86% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| Date | Continuous disclosure |
|---|---|
| 17/10/24 | The Fund provides a limited liquidity facility on a quarterly basis. The September 2024 redemption facility applied approximately 87% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 17/07/24 | The Fund provides a limited liquidity facility on a quarterly basis. The June 2024 redemption facility applied approximately 86% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 06/06/24 | Update on property sales and debt hedge expiry To accommodate approaching liquidity needs of the Fund, Management has recently conducted proactive sales programs for two office assets held by the Fund – being 10 Moore Street, Canberra ACT and 8 Market Lane, Maroochydore Qld. We are pleased to confirm both properties have been successfully sold in line with the most recent independent valuations. This is a good result given the prevailing commercial property market conditions. The sale proceeds are being deployed to reduce the Fund’s gearing to a conservative level of approximately 28% (post settlement). The sales improve the Fund’s exposure to industrial and social infrastructure sectors and the WALE of the Fund. Approximately 99% of the Fund’s drawn debt is hedged at a blended rate of 1.88% p.a. until the end of June 2024 (in addition to the blended bank margin). The existing hedge profile has assisted in mitigating interest rate volatility during FY24. With the expiry of hedges approaching in June 2024, the Fund’s cost of debt is anticipated to increase in line with prevailing market interest rates. The successful sale programmes have reduced the Fund’s gearing and exposure to elevated interest rate environment. A sale of the assets will change the income profile of the Fund. Similarly, a changed cost of debt will impact the expenses of the Fund. These factors are forecast to reduce future distributions of the Fund. The Fund is now in a stronger position to facilitate the approaching liquidity event in December 2025, and also has the capacity to look for new accretive investment opportunities to improve Fund performance. The Funds Management Team is considering various strategies to protect and improve future distributions. These include:
Should these outcomes be achieved, the Fund should be in a better position to review distributions throughout FY25. |
| 22/05/24 | Update on asset sales and debt hedge expiry To accommodate continued liquidity needs of the Fund, Management has recently conducted on market sales programs for two office assets held by the Fund – being 10 Moore Street, Canberra ACT and 8 Market Lane, Maroochydore Qld. We are pleased to report that 10 Moore Street, Canberra has now unconditionally exchanged contracts for sale with settlement scheduled for 1 July 2024. The sale price of $26.5m (net) is in line with the most recent independent valuation of the property. The Maroochydore asset remains in ‘due diligence’ with a purchaser. A due diligence period is a non-binding timeframe whereby purchaser completes a detailed analysis of the property(s). Following the completion of the due diligence period, which is expected to occur in the coming weeks, binding exchange of contracts may occur. A further continuous disclosure update will be provided as matters progress. Approximately 99% of the Fund’s drawn debt is hedged at a blended rate of 1.88% p.a. until the end of June 2024 (in addition to the blended bank margin). The existing hedge profile has assisted in mitigating interest rate volatility during FY24. With the expiry of hedges approaching in June 2024, the Fund’s cost of debt is anticipated to increase in line with prevailing market interest rates. The Fund is considering various strategies to protect future distributions including entering into further hedge arrangements which may result in a cost to the Fund. A sale of the assets will change the income profile of the Fund. Similarly, a changed cost of debt will impact the expenses of the Fund. These factors will have implications on the future distributions of the Fund. |
| 11/04/24 | The Fund provides a limited liquidity facility on a quarterly basis. The March 2024 redemption facility applied approximately 88% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 25/03/24 | Withdrawal of Singapore Offer Effective 25 March 2024, additional units in the Fund will no longer be offered to investors in Singapore. The Manager has determined it is in the best interest of investors to withdraw the Fund’s Singaporean offering for the time being. The offering is not providing the intended benefit to the Fund due to low inflows and annual compliance costs. The Manager will continue to assess the viability of offering the Fund in Singapore and may reactivate the offer in the future if it considers it is in the best interests of investors to do so. As part of the withdrawal, existing Singaporean investors can remain in the Fund, however, will not be able to participate in the Fund’s Distribution Reinvestment Plan or acquire additional units. The PDS dated 30 September 2022 is to be read in conjunction with this information and all references in the PDS to the Offer being available to investors in Singapore do not apply on and from 25 March 2024. |
| 19/03/24 | Change in the Application allotment process – March 2024. The CDPF quarterly property valuation cycle may have a positive or negative impact on the unit price. To act in the best interests of all investors the Fund will be moving to a new process each quarter end while the valuations are reviewed and confirmed. Further to the disclosure in the Product Disclosure Statement, the Fund will postpone the processing of applications 10 business days prior to the end of a quarter (excluding any regular DRP applications from the prior period). Investor applications lodged during this period will be accepted but not processed until the completion of the valuation cycle. Applications will be allotted at the unit price which incorporates the updated valuations at quarter end. No additional action is required by investors once the application has been submitted. Investors may withdraw their application at any time prior to allotment. |
| 09/02/24 | CDPF has now completed the revaluation of an asset within the Fund’s portfolio, which has been reflected in the Fund’s unit price as at 2 February 2024. Applications received but not yet processed will be allotted at the updated unit price. |
| 08/01/24 | Change in the Application allotment process – January 2024. The CDPF is attaining an updated valuation for an asset within the Fund’s portfolio which may have a positive or negative impact on the unit price. To act in the best interests of all investors the Fund, and further to the disclosure in the Product Disclosure Statement, the Fund will postpone the processing of applications for the remainder of the month (excluding any regular DRP applications from the prior period). Investor applications lodged during this period will be accepted but not processed until the completion of the valuation cycle. Applications will be allotted at the unit price which incorporates the updated valuations at quarter end. No additional action is required by investors once the application has been submitted. Investors may withdraw their application at any time prior to allotment. |
| 17/01/24 | The Fund provides a limited liquidity facility on a quarterly basis. The December 2023 redemption facility applied approximately 88% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| Date | Continuous Disclosure |
|---|---|
| 06/12/23 | Management is in the process of negotiating a restructure of a lease with a sitting tenant at 10 Moore Street, Canberra ACT (Property). The Property is a well located A grade office asset, and as at 30 September 2023 is 100% occupied with a 3.75 year WALE. The Property currently represents 14% of the Fund’s investment portfolio. One of the major tenants in the property has unfortunately been negatively impacted over the past 12 months. At the time of writing this disclosure, the tenant has just become two months in rental arrears. There is a risk that the tenant becomes financially unviable and defaults, which may negatively impact distributions, the valuation of the Property, and the unit price of the Fund. Management is currently exploring mechanisms to provide short term rental relief in exchange for a short term lease extension. This proposition provides the tenant time to recover revenue streams, continue operation at the property, and maintains occupancy of the Property. Management will keep investors updated as matters progress. |
| 10/10/23 | The Fund provides a limited liquidity facility on a quarterly basis. The September 2023 redemption facility applied approximately 87% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 15/09/23 | Change in the application allotment process The CDPF quarterly property valuation cycle may have a positive or negative impact on the unit price. To act in the best interests of all investors the Fund will be moving to a new process each quarter end while the valuations are reviewed and confirmed. Further to the disclosure in the Product Disclosure Statement, the Fund will postpone the processing of applications 10 business days prior to the end of a quarter (excluding any regular DRP applications from the prior period). Investor applications lodged during this period will be accepted but not processed until the completion of the valuation cycle. Applications will be allotted at the unit price which incorporates the updated valuations at quarter end. No additional action is required by investors once the application has been submitted. Investors may withdraw their application at any time prior to allotment. |
| 10/07/23 | The Fund provides a limited liquidity facility on a quarterly basis. The June 2023 redemption facility applied approximately 84% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 26/06/23 | Settlement of the sale of 381 Macarthur Ave, Hamilton occurred Thursday 15 June 2023. |
| 16/06/23 | The Fund is in the process of completing 30 June 2023 valuations and reviewing its FY24 distribution budget. The recent increases in interest rates may negatively impact valuations and future distributions. |
| 02/06/23 | Settlement of the sale of 60 Investigator Drive, Robina occurred Monday 29 May 2023. |
| 29/05/23 | The Fund has completed market sales campaigns for the divestment of two of the Fund’s smaller Queensland assets. 60 Investigator Drive, Robina has unconditionally exchanged contracts for sale at $8.8 million, reflecting a 4.7% premium to the 31 March 2023 book value. Settlement is scheduled to occur late May 2023. 381 Macarthur Avenue, Hamilton has unconditionally exchanged contracts for sale at $18.5 million, approximately 4.0% below the 31 March 2023 book value. Settlement is scheduled to occur mid-June 2023. |
| 21/04/23 | We have reviewed and updated the Target Market Determination for the Fund. The updated TMD is available in the Fund’s website, within the Investor Centre section. |
| 12/04/23 | The Fund provides a limited liquidity facility on a quarterly basis. The March 2023 redemption facility applied approximately 85% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 21/03/23 | The Fund provides a limited liquidity facility on a quarterly basis. The December 2022 redemption facility applied 50% scaling to all redemption requests. Any withdrawal request submitted during a quarter which is not satisfied, either in whole or in part, automatically rolls over to the following quarter, unless the Investor requests otherwise or the Manager suspends withdrawals. Any withdrawal requests rolled over to the next period (quarter) do not have priority, but form part of the pool of new withdrawal requests for that next quarter. |
| 23/02/23 | The Fund will shorty commence on market sales campaigns for the divestment of two of the Fund’s smaller Queensland assets. The assets include 60 Investigator Drive, Robina and 381 Macarthur Avenue, Hamilton. Management will provide an update to investors following the conclusion of the respective sales campaigns. |
| 16/02/23 | The Fund has updated the performance reporting methodology, including the reinvestment of income returns, to align with industry standards. The update requires no action from investors, and the methodology is outlined in the footnotes associated with the performance data. |
| Date | Continuous Disclosure |
|---|---|
| 30/09/22 | New PDS available. Please click here to access a copy of the updated PDS. |
| 30/09/22 | Primewest Management Limited has retired as responsible entity of CDPF No. 2 in favour of Centuria Property Funds Limited (CPFL). CPFL is now the sole responsible entity of CDPF and CDPF No. 2 (together the stapled fund known as CDPF). |
| 08/08/22 | The development of 36 Caribou Drive, Direk SA remains on track with practical completion expected in January 2023. As outlined in the Fund’s PDS, where the Fund invests in a development, the Manager’s establishment and placement fee can be charged on the acquisition of the land and thereafter the remaining fee can be charged upon completion of the development; and the Manager is able to charge the fee on amounts expended for the purposes of the development. The Manager confirms that it intends to charge the remainder of the 2.0% establishment and placement fee upon completion of development of 36 Caribou Drive, Direk SA (based on the total amount agreed with the vendor to be paid). |
| 30/06/22 | Redemption withdrawal requests, for the 30 June 2022 quarter, will be accepted until 4.00 pm on 1 July 2022. |
| 27/05/22 | The Investor meetings relating to the merger between the Centuria Diversified Property Fund (CDPF) and the Primewest Property Income Fund (PPIF), were held on 26 May 2022. We are pleased to confirm that all the resolutions were passed, by both sets of unitholders. The Funds have now successfully merged, with an implementation date of the 27 May 2022. A summary of the meeting minutes for the General Meeting can be found by logging into your Centuria Investor portfolio at CenturiaInvestor.com. The merged fund has now reopened to applications and withdrawals. The fund has also recently updated the PDS to reflect the merger. |
| Date | Continuous Disclosure |
|---|---|
| 13/05/22 | The Fund has issued a Supplementary Explanatory Memorandum and Replacement Product Disclosure Statement in relation to the Notice of Meeting previously provided to CDPF unitholders in March 2022. Documentation has been issued to investors, and is also available via the merger webpage. Please note: The date of the Meeting has been postponed until 10.30am AEST on Thursday 26 May 2022 to allow CDPF unitholders additional time to consider the Supplementary Explanatory Memorandum and Replacement PDS. Withdrawal and applications will resume on Friday 27 May 2022, and a catch-up distribution payment will be made in June 22. |
| 25/03/22 | The Fund will temporarily suspend distributions, redemptions and applications between 22 April 2022 and 27 May 2022. The suspension relates to the proposed merger between the Primewest Property Income Fund and the Centuria Diversified Property Fund. The suspension is required in order to establish an up to date merger ratio for the proposed merger, and ensure both CDPF and PPIF investors benefit from the most up to date information available prior to the investor vote. We encourage all Investors to carefully review the merger documentation, which can be found on the merger webpage. We highly recommend posting any applications prior to Wednesday, 18 April 2022 to allow adequate time for the processing and allotment of units prior to 22 April 2022. |
| 11/03/22 | The Fund has issued a Notice of Meeting relating to the merger between the Centuria Diversified Property Fund and the Primewest Property Income Fund. Documentation has been issued to investors, and is also available via the merger webpage |
| Date | Continuous Disclosure |
|---|---|
| 15/11/21 | The Fund completed valuations of the direct property holdings to ensure an accurate and current unit price. The Fund’s direct property assets have been revalued as at 15/11/2021 by independent property valuers. The property valuations showed a change in value of -$0.10m compared to the previous valuations conducted. These valuations have been adopted and reflected in the daily unit pricing for the Fund. |
| 14/10/21 | Fund settles the purchase of land at 36 Caribou Drive, Direk SA. |
| 30/08/21 | Nicholas Collishaw has resigned from his position as Non-executive Director of Centuria Property Funds Limited. |
| 24/07/21 | The Fund declares a special distribution of 11.25 cents per unit. |
| 20/07/21 | The Fund enters into contract for the purchase of 36 Caribou Drive, Direk SA. |
| 02/07/21 | The Fund has settled on its first industrial asset, 171 Camboon Road, Malaga WA. |
| 01/07/21 | Nicole Green has been appointed as an Independent Non-executive Director of Centuria Property Funds Limited. |
| 29/06/21 | The Fund confirms SIV compliance. |
| 25/05/21 | Fund enters into contract for the purchase of 171 Camboon Road, Malaga WA |
| 01/04/21 | Centuria continues to complete valuations of the direct property holdings on a quarterly basis to ensure an accurate and current unit price. The Fund’s direct property assets have been revalued as at 31/03/2021 by independent property valuers. The property valuations showed no change in value compared to the previous valuations conducted as at 31 December 2020. These valuations have been adopted and reflected in the daily unit pricing for the Fund. |
| 01/02/21 | Redemption of Ordinary Units held by a Centuria related entity. |
| 01/02/21 | A General Meeting of Investors was held on 29 January 2021. The Resolution related to changes to some of the Fund’s features including; modification to liquidity provisions, target asset allocation, performance fee methodology, and various amendments to the Constitution. The resolution was passed by Special Resolution and, as a result, an updated Product Disclosure statement has been issued and is available here. |
| 04/01/21 | A Meeting of Investors of the Centuria Diversified Property Fund has been scheduled for Friday 29 January, 2021. The Meeting is being convened to give Investors an update on the current position of the Fund and vote on the Resolution. The Manager is proposing changes to some of the Fund’s features, as well as amendments to its Constitution. This is to bring the Fund’s key attributes in line with other similar property funds in the market and reflect the maturity of the Fund, with the intention of increasing the Fund’s income returns. |
| Date | Continuous Disclosure |
|---|---|
| 01/12/20 | Notice of Unit Pricing Blackout Period – Centuria Diversified Property Fund (CNT0032AU). Please note that there will be a unit pricing blackout period for the above-mentioned fund over the Christmas period for the following dates 29/12/2020 – 31/12/2020. |
| 02/11/20 | The Centuria Diversified Property Fund is an illiquid direct property investment with a limited liquidity facility. Commencing 1 November 2020, the monthly liquidity amount may be limited to 0.5% of the Fund’s net asset value in line with the PDS. Any withdrawal request submitted during a particular month which is not satisfied, either in whole or in part, automatically rolls over to the following month unless the Investor requests, or the Manager determines, otherwise. Any withdrawal requests rolled over to the next month do not have priority, but form part of the pool of withdrawal requests for that next month. |
| 01/10/20 | Centuria has undertaken out of cycle property valuations for the Fund’s direct properties. This action was taken to ensure the Fund’s direct real estate assets reflect current market conditions. All four of the Fund’s direct property assets have been revalued (as at 30/09/2020), by independent property valuers. The revised property valuations indicate a modest reduction of approximately 1.4% compared to previous valuation as at 30 June 2020. These valuations have now been adopted and reflected in the daily unit pricing for the Fund. |
| 01/07/20 | Daily unit pricing for the Fund has been suspended (1 July 2020) as the required information from the Fund’s Vanguard investments have not been provided. Daily unit pricing will recommence once this information is available. |
| 18/06/20 | New PDS available. Please click here to access a copy of the updated PDS. |
| 22/04/20 | Centuria has conducted out of cycle property valuations for 60 Brougham Street, Geelong & 21-29 Havelock Street West Perth. This action was taken to ensure the Fund’s material syndicate investments reflect current market conditions in light of market volatility due to the COVID-19 crisis. 60 Brougham Street, Geelong & 21-29 Havelock Street West Perth have been valued (as at 21/04/2020) by independent property valuers. The revised property valuations indicate a modest reduction of approximately 1.6% compared to previous valuation as at 31 December 2019. These valuations have now been adopted and reflected in the daily unit pricing for the Fund. |
| 17/04/20 | Centuria has undertaken out of cycle property valuations for the Fund’s direct properties. This action was taken to ensure the Fund’s direct real estate assets reflect current market conditions in light of market volatility due to the COVID-19 crisis. All four of the Fund’s direct property assets have been revalued (as at 16/04/2020), by independent property valuers. The revised property valuations indicate a modest reduction of approximately 1.3% compared to previous valuation as at 31 December 2019. These valuations have now been adopted and reflected in the daily unit pricing for the Fund. |
| 09/04/20 | The Fund has recently updated disclosures regarding the COVID-19 pandemic. The Managers approach to liquidity remains in line with the PDS, please refer to section 3.6 for further information. Whilst a monthly estimate is not currently available for publishing due to uncertainty with COVID-19, the Funds limited liquidity facility remains in place. The full extent and reach of the COVID-19 pandemic is unknown, you can be assured the Manager is safeguarding Unitholder interests with a prudent and cautious approach to Fund disclosures. |
| 07/04/20 | Supplementary PDS available. Please click here to access a copy of the updated PDS. |
| 02/04/20 | COVID-19 has been declared by the World Health Organization as a pandemic. At this time the extent and impact of the COVID-19 pandemic is still developing and it is unknown what the ultimate effect will be on the broader global economy. In general, and noting that the government has announced a range of fiscal stimulus measures to address the economic impact of the COVID-19 pandemic, the COVID-19 pandemic could adversely impact the revenue of some of the tenants in the Fund’s Properties. As a result, those tenants may fail to generate sufficient revenue to make rental payments and, in some cases, sustain their business. In addition, as a result of reduced revenue, the Manager has had requests from tenants for rent abatements or reductions. If the Manager is required to provide rent reductions or abatements, the income of the Fund may be materially impacted. Any failure of a tenant to pay rent, rent abatements or a reduction in demand will impact the Fund’s revenue. This may have a negative impact on distributions to Investors and the value of the Fund’s investments. |
| 01/04/20 | Daily unit pricing for the Fund has been suspended (1 April 2020) as the required information from the Fund’s Vanguard investments have not been provided. Daily unit pricing will recommence once this information is available. |
| 31/03/20 | Redemption withdrawal requests, for the month of March 2020, will be accepted until 5.30pm on the last business day of this month. |
| 29/02/20 | Monthly Fund Update Liquidity – $11,491,806 Unit Price – $1.4422 |
| 26/02/20 | Ordinary Units issued to a Centuria related entity |
| 13/02/20 | Units held in the Centuria 2 Wentworth Street Fund: Settlement of the sale of 2 Wentworth Street, Parramatta, NSW |
| 31/01/20 | Monthly Fund Update Liquidity – $10,967,895 Unit Price – $1.4430 |
| Date | Continuous Disclosure |
|---|---|
| 31/12/19 | Monthly Fund Update Liquidity – $6,059,159 Unit Price – $1.4361 Gearing – 39.81% |
| 31/12/19 | Redemption of Acquisition Units held by a Centuria related entity |
| 03/12/19 | Units held in the Centuria 2 Wentworth Street Fund: Contracts for sale exchanged for 2 Wentworth Street, Parramatta NSW |
| 30/11/19 | Monthly Fund Update Liquidity – $14,659,987 Unit Price – $1.4188 |
| 29/11/19 | Redemption of Acquisition Units held by a Centuria related entity |
| 28/11/19 | Fund enters into contract for the purchase of 13-15 Compark Circuit, Mulgrave VIC |
| 15/11/19 | Fund settles on 25 Montpelier Road, Bowen Hills, QLD |
| 12/11/19 | Acquisition Units issued to a Centuria related party |
| 31/10/19 | Monthly Fund Update Liquidity – $10,665,128 Unit Price – $1.4235 |
| 11/10/19 | Fund enters into a put and call option for the purchase of 25 Montpelier Road, Bowen Hills, QLD |
| 30/09/19 | Monthly Fund Update Liquidity – $732,603 Unit Price – $1.4236 |
| 31/08/19 | Monthly Fund Update Liquidity – $18,322,403 Unit Price – $1.4337 |
| 27/08/19 | Benchmark Data Correction Letter |
| 22/08/19 | Units held in the Centuria Zenith Fund: Settlement of the sale of ‘The Zenith’ 821 Pacific Highway, Chatswood, NSW |
| 31/07/19 | Redemption of Acquisition Units held by a Centuria related entity |
| 31/07/19 | Monthly Fund Update Liquidity – $8,643,461 Unit Price – $1.4337 |
| 30/06/19 | Monthly Fund Update Liquidity – $5,778,273 Unit Price – $1.4346 |
| 28/06/19 | Redemption of Acquisition Units held by a Centuria related entity |
| 21/06/19 | Fund settles on 381 Macarthur Avenue, Northshore Hamilton, QLD |
| 04/06/19 | Units held in the Centuria 19 Corporate Drive Fund: Settlement of the sale of 19 Corporate Drive, Cannon Hill, QLD |
| 04/06/19 | Fund settles on 10 Moore St, Canberra |
| 03/06/19 | Please note a change in Responsible Entity principal place of business and postal address details: Centuria Property Funds Limited Level 41 Chifley Tower, 2 Chifley Square, Sydney NSW 2000 All other contact details remain the same |
| 31/05/19 | Monthly Fund Update Liquidity – $9,677,793 Unit Price – $1.4355 |
| 30/05/19 | Acquisition Units issued to a Centuria related entity |
| 29/05/19 | Letter to Investors – Acquisition of 10 Moore St, Canberra |
| 30/04/19 | Monthly Fund Update Liquidity – $21,937,256 Unit Price – $1.4212 |
| 29/04/19 | Fund acquires 381 Macarthur Avenue, Northshore Hamilton, QLD |
| 18/04/19 | Updated annual fees and costs – April 2019 |
| 31/03/19 | Monthly Fund Update Liquidity – $18,827,160 Unit Price – $1.4365 |
| 28/02/19 | Monthly Fund Update Liquidity – $17,187,305 Unit Price – $1.4187 |
| 31/01/19 | Monthly Fund Update Liquidity – $15,256,483 Unit Price – $1.4105 |
| 30/01/19 | Correction to disclosure from 24/07/18: Fund acquires 1,683,849 units in the Centuria 80 Grenfell Street Office Fund as at 24/07/18 |
| 15/01/19 | Fund acquires 19,200 units in the Centuria 19 Corporate Drive Fund |
| Date | Continuous Disclosure |
|---|---|
| 31/12/18 | Monthly Fund Update Liquidity – $13,486,860 Gearing – 27.93% Unit Price – $1.3946 |
| 30/11/18 | Monthly Fund Update Liquidity – $10,058,286 Gearing – 30.82% Unit Price – $1.3463 |
| 28/11/18 | Please note a change in registry details: 1800 182 257 Property.enquiry@centuriainvestor.com.au |
| 16/11/18 | Letter to Investors – Performance Data Correction |
| 31/10/18 | Monthly Fund Update Liquidity – $9,017,618 Gearing – 30.95% Unit Price – $1.3498 |
| 30/09/18 | Monthly Fund Update Liquidity – $8,633,918 Gearing – 32.25% Unit Price – $1.3592 |
| 31/08/18 | Monthly Fund Update Liquidity – $7,512,250 Gearing – 32.47% Unit Price – $1.3651 |
| 31/07/18 | Monthly Fund Update Liquidity – $4,752,208 Gearing – 34.91% Unit Price – $1.3625 |
| 24/07/18 | Fund acquires 1,683,849 units in the Centuria Geelong Office Fund |
| 18/07/18 | Corrections to disclosures from 05/04/18: 1. Fund acquired 100,000 units in the Centuria 203 Pacific Highway Fund on 03/04/18 2. Fund acquired 50,000 units in the Centuria 8 Central Avenue Fund No.2 on 03/04/18 |
| 30/06/18 | June 2018 Fund Quarterly Update |
| 30/06/18 | Monthly Fund Update Liquidity – $5,089,534 Gearing – 34.63% Unit Price – $1.3431 |
| 05/07/18 | Centuria Capital appoints General Counsel and Company Secretary |
| 31/05/18 | Monthly Fund Update Liquidity – $2,718,195 Gearing – 37.62% Unit Price – $1.3408 |
| 14/05/18 | Fund acquires 2,074,395 units in the Centuria Geelong Office Fund |
| 30/04/18 | Monthly Fund Update Liquidity – $2,521,456 Gearing – 37.61% Unit Price – $1.3369 |
| 18/04/18 | Fund acquires 1,000,000 units in the Centuria Geelong Office Fund |
| 05/04/18 | Fund acquires 50,000 units in the Centuria 203 Pacific Highway Fund |
| 05/04/18 | Fund acquires 100,000 units in the Centuria 8 Central Avenue Fund No.2 |
| 04/04/18 | Fund acquires 6,500,000 units in the Centuria Geelong Office Fund |
| 31/03/18 | March 2018 Fund Quarterly Update |
| 31/03/18 | Monthly Fund Update Liquidity – $1,287,183 Gearing – 29.95% Unit Price – $1.3347 |
| 28/02/18 | Monthly Fund Update Liquidity – $6,699,191 Gearing – 31.22% Unit Price – $1.3348 |
| 31/01/18 | Monthly Fund Update Liquidity – $6,369,543 Gearing – 31.96% Unit Price – $1.3452 |
| 10/01/18 | Fund acquires 2,023,022 units in the Centuria Sandgate Road Fund |
| 09/01/18 | Fund acquires 850,000 units in the Centuria Sandgate Road Fund |
| 02/01/18 | Fund acquires 1,574,166 units in the Centuria Havelock House Fund |
| Date | Continuous Disclosure |
|---|---|
| 31/12/17 | December 2017 Fund Quarterly Update |
| 31/12/17 | Monthly Fund Update Liquidity – $5,751,830 Gearing – 34.68% Unit Price – $1.3559 |
| 5/12/17 | Fund acquires 80,000 units in the Centuria Havelock House Fund |
| 30/11/17 | Monthly Fund Update Liquidity – $9,107,449 Gearing – 26.70% Unit Price – $1.3093 |
| 20/11/17 | Fund acquires 20,000 units in the Centuria Havelock House Fund |
| 20/11/17 | Fund acquires 750,000 units in the Centuria Sandgate Road Fund |
| 17/11/17 | Fund acquires 1,000,000 units in the Centuria Havelock House Fund |
| 31/10/17 | Monthly Fund Update Liquidity – $4,906,456 Gearing – 30.78% Unit Price – $1.2983 |
| 26/10/17 | In use notice for updated Product Disclosure statement lodged with ASIC |
| 30/09/17 | September 2017 Fund Quarterly Update |
| 30/09/17 | Monthly Fund Update Liquidity – $4,240,843 Gearing – 31.7% Unit Price – $1.2939 per unit |
| 29/09/17 | In use notice for updated Product Disclosure statement lodged with ASIC |
| 31/08/17 | Monthly Fund Update Liquidity – $2,131,467 Gearing – 36.6% Unit Price – $1.2947 per unit |
| 16/08/17 | Fund acquires 50,000 units in the Centuria Sandgate Road Fund |
| 31/07/17 | Monthly Fund Update Liquidity – $1,689,052 Gearing – 37.9% Unit Price – $1.2942 per unit |
| 30/06/17 | June 2017 Fund Quarterly Update |
| 30/06/17 | Monthly Fund Update Liquidity – $1,705,828 Gearing – 38% Unit Price – $1.2883 per unit |
| 27/06/17 | Fund acquires 56,061 units in the Centuria SOP Fund |
| 15/06/17 | Fund acquires 100,000 units in the Centuria 203 Pacific Highway Fund |
| 6/06/17 | Fund acquires 1,000,000 units in the Centuria Havelock House Fund |
| 31/05/17 | Monthly Fund Update Liquidity – $3,041,220 Gearing – 33.9% Net Asset Backing – $1.2075 per unit |
| 1/05/17 | Fund acquires 25,000 units in the Centuria Havelock House Fund |
| 30/04/17 | Monthly Fund Update Liquidity – $1,444,040 Gearing – 39.2% Net Asset Backing – $1.2126 per unit |
| 20/04/17 | Fund acquires 1,200,000 units in the Centuria Scarborough House Fund |
| 20/04/17 | Fund acquires 1,300,000 units in the Centuria Scarborough House Fund |
| 31/03/17 | March 2017 Fund Quarterly Update |
| 31/03/17 | Monthly Fund Update Liquidity – $1,691,061 Gearing – 37.8% Net Asset Backing – $1.2110 per unit |
| 28/02/17 | Monthly Fund Update Liquidity – $747,092 Gearing – 43.0% Net Asset Backing – $1.2100 per unit |
| 31/01/17 | Monthly Fund Update Liquidity – $713,932 Gearing – 43.2% Net Asset Backing – $1.2248 per unit |
| Date | Continuous Disclosure |
|---|---|
| 31/12/16 | December 2016 Fund Quarterly Update |
| 31/12/16 | Monthly Fund Update Liquidity – $687,495 Gearing – 43.4% Net Asset Backing – $1.2251 per unit |
| 30/11/16 | Monthly Fund Update Liquidity – $625,634 Gearing – 45.4% Net Asset Backing – $1.1232 per unit |
| 29/11/16 | Fund acquires 12,500 units in the Centuria 8 Central Avenue Fund No.2 |
| 23/11/16 | Fund acquires 50,000 units in the Centuria 2 Wentworth Street Fund and 12,500 units in the Centuria 8 Central Avenue Fund No.2 |
| 31/10/16 | Monthly Fund Update Liquidity – $678,596 Gearing – 45.1% Net Asset Backing – $1.1173 per unit |
| 30/09/16 | September 2016 Fund Quarterly Update |
| 30/09/16 | Monthly Fund Update Liquidity – $680,904 Gearing – 45.1% Net Asset Backing – $1.1256 per unit |
| 12/09/16 | Fund acquires initial units in the Vanguard Wholesale Cash and Index A-REIT Fund |
| 31/08/16 | Monthly Fund Update Liquidity – $620,335 Gearing – 45.5% Net Asset Backing – $1.1237 per unit |
| 31/07/16 | Monthly Fund Update Liquidity – $0 Gearing – 50.5% Net Asset Backing – $1.1250 per unit |
| 29/07/16 | Fund acquires 5,000,000 units in the Centuria Zenith Fund |
| 30/06/16 | Monthly Fund Update Liquidity – $0 Gearing – 43.8% Net Asset Backing – $1.1252 per unit |
| 24/06/16 | Fund acquires 500,000 units in the Centuria ATP Fund and 76,452 units in the Centuria 19 Corporate Drive Fund |
| 21/03/16 | Fund Constitution established |
Primewest Property Income Fund – RG46 and continuous disclosures.
| Date | Continuous Disclosure |
|---|---|
| 13/05/22 | The Fund has issued a Supplementary Explanatory Memorandum and Replacement Product Disclosure Statement in relation to the Notice of Meeting previously provided to PPIF unitholders in March 2022. Documentation has been issued to investors, and is also available via the merger webpage. Please note: The date of the Meeting has been postponed until 12.30pm AEST on Thursday 26 May 2022 to allow PPIF unitholders additional time to consider the Supplementary Explanatory Memorandum and Replacement PDS. Withdrawal and applications will resume on Friday 27 May 2022, and a catch-up distribution payment will be made in June 22. |
| 11/04/22 | The Fund will temporarily suspended distributions and applications between 22 April 2022 and 27 May 2022. The suspension relates to the proposed merger between the Primewest Property Income Fund and the Centuria Diversified Property Fund. The suspension is required in order to establish an up to date merger ratio for the proposed merger, and ensure both CDPF and PPIF investors benefit from the most up to date information available prior to the investor vote. We encourage all Investors to carefully review the merger documentation, which can be found on https://centuria.com.au/cdpf-merger (new window). We highly recommend posting any applications prior to Wednesday, 18 April 2022 to allow adequate time for the processing and allotment of units prior to 22 April 2022. |
| 31/03/22 | The Fund completed valuations of the direct property holdings to ensure an accurate and current unit price. The Fund’s direct property assets have been revalued as at 31/03/2022 by independent property valuers. The property valuations showed a $1.80m change in value compared to the previous valuations conducted. These valuations have been adopted and reflected in the daily unit pricing for the Fund. |
| 23/03/22 | The Fund redemption facility will be temporarily suspended following the March 2022 redemption window. The suspension relates to the proposed merger between the Primewest Property Income Fund and the Centuria Diversified Property Fund. We encourage all Investors to carefully review the merger documentation, which can be found on https://centuria.com.au/cdpf-merger (new window) |
| 11/03/22 | The Fund has issued a Notice of Meeting relating to the merger between the Centuria Diversified Property Fund and the Primewest Property Income Fund. Documentation has been issued to investors, and is also available via the merger webpage (new window) |
| 16/02/22 | Fund issues updated Product Disclosure Statement (PDS) |
| Date | Continuous Disclosure |
|---|---|
| 16/12/21 | A Replacement PDS is now available and a Target Market Determination has been issued. The Fund is now open to applications. |
| 15/11/21 | The Fund completed valuations of the direct property holdings to ensure an accurate and current unit price. The Fund’s direct property assets have been revalued as at 15/11/2021 by independent property valuers. The property valuations showed a $3.36m change in value compared to the previous valuations conducted. These valuations have been adopted and reflected in the daily unit pricing for the Fund. |
| 27/10/21 | Appointment of new Fund Manager to the Fund. |
| 08/10/21 | Registry provider transitioned to Boardroom Limited. |
| 04/10/21 | The Fund is temporarily closed to applications. |
| 19/07/21 | Centuria Capital Limited and Centuria Funds Management Limited complete the compulsory acquisition of all remaining securities in Primewest Management Limited – being the Responsible entity of the Fund. |
Please download the PDS or appropriate forms for the Centuria Diversified Property Fund. All forms for investors and advisers are also available via Centuria Investor website.
| Distribution date | Distribution rate (cents/unit) | Payment for period |
|---|---|---|
| 12 May 2025 | 0.3125 | April 2025 |
| 10 April 2025 | 0.3125 | March 2025 |
| 10 March 2025 | 0.3125 | February 2025 |
| 10 February 2025 | 0.3125 | January 2025 |
| 13 January 2025 | 0.3125 | December 2024 |
| 10 December 2024 | 0.3125 | November 2024 |
| 11 November 2024 | 0.3125 | October 2024 |
| 10 October 2024 | 0.3125 | September 2024 |
| 10 September 2024 | 0.3125 | August 2024 |
| 9 August 2024 | 0.3125 | July 2024 |
| 24 July 2024 | 0.4250 | June 2024 |
| 11 June 2024 | 0.425 | May 2024 |
| 10 May 2024 | 0.425 | April 2024 |
| 10 April 2024 | 0.425 | March 2024 |
| 11 March 2024 | 0.425 | February 2024 |
| 9 February 2024 | 0.425 | January 2024 |
| Distribution date | Distribution rate (cents/unit) | Payment for period |
|---|---|---|
| 12 January 2024 | 0.425 | December 2023 |
| 11 December 2023 | 0.425 | November 2023 |
| 10 November 2023 | 0.425 | October 2023 |
| 12 October 2023 | 0.425 | September 2023 |
| 11 September 2023 | 0.425 | August 2023 |
| 10 August 2023 | 0.425 | July 2023 |
| 17 July 2023 | 0.4625 | June 2023 |
| 9 June 2023 | 0.4625 | May 2023 |
| 10 May 2023 | 0.4625 | April 2023 |
| 11 April 2023 | 0.4625 | March 2023 |
| 10 March 2023 | 0.4625 | February 2023 |
| 10 February 2023 | 0.4625 | January 2023 |
| 10 January 2023 | 0.4625 | December 2022 |
| 09 December 2022 | 0.4625 | November 2022 |
| 10 November 2022 | 0.4625 | October 2022 |
| 10 October 2022 | 0.4625 | September 2022 |
| 09 September 2022 | 0.4625 | August 2022 |
| 10 August 2022 | 0.4625 | July 2022 |
The Centuria Diversified Property Fund is a stapled fund comprising the Centuria Diversified Property Fund (ARSN 611 510 699) (CDPF) and the Centuria Diversified Property Fund No.2 (ARSN 645 597 404) (CDPF No.2) (formerly known as the Primewest Property Income Fund). Find more information about the stapling of the Fund.
For capital gains tax purposes, securityholders who hold a stapled security in the Centuria Diversified Property Fund (stapled entity) are required to apportion the cost of each security between the cost base of units in Centuria Diversified Property Fund and the cost base of units in Centuria Diversified Property Fund No. 2 (formerly Primewest Property Income Fund). The cost base is relevant for any sale or disposal of securities in Centuria Diversified Property Fund (stapled entity) and the receipt of any tax deferred distributions.
This apportionment is required to be done on a reasonable basis. One reasonable way to determine cost base (and allocation of sale proceeds) is to apply a Net Tangible Asset approach in respect of the stapled entities using the following information:
| Date | Centuria Diversified Property Fund | Centuria Diversified Property Fund No.2 | Centuria Diversified Property Fund (stapled entity) |
|---|---|---|---|
| 31 December 2024 | 72.92% | 27.08% | 100.00% |
| 30 June 2024 | 73.17% | 26.83% | 100.00% |
| 31 December 2023 | 72.65% | 27.35% | 100.00% |
| 30 June 2023 | 74.57% | 25.43% | 100.00% |
| 30 June 2022 | 76.50% | 23.50% | 100.00% |
| 27 May 2022 (stapling) | 76.57% | 23.43% | 100.00% |
Please note that the correct apportionment rate to be used depends on the relevant date of the specific transaction. The apportionment rate relevant for the acquisition of a stapled security may differ from the rate on disposal.
Centuria Diversified Property Fund typically announces its Net Tangible Assets each 31 December and 30 June.
To apply to become an Investor you should read the Product Disclosure Statement (PDS) in its entirety. Applications can be then made via the post or through our online application. For full details on how to apply please download a PDS and follow the instructions. The minimum investment for units in the Fund is $10,000. Applications will be processed on a daily basis and unit confirmations will be sent thereafter.
It is intended that the Fund will pay distributions to investors on a monthly basis. Distributions will usually be paid into Investor’s bank accounts by the 10th day of the following month.
Investors will have the opportunity to participate in a distribution reinvestment plan (DRP) enabling them to reinvest some or all of their distributions as additional units in the Fund.
Please refer to Section 3 of the PDS for further details on the Fund’s distribution and DRP policies.
The Fund is an open-ended fund that will generally have a quarterly withdrawal facility available to investors. The withdrawal price applicable will be the Unit Price on the last Business Day of the quarter and will generally be paid by the 21st day of the following month. Withdrawals from the Fund may be scaled back, delayed or suspended in certain circumstances, including where the Fund has insufficient liquidity. It is expected that withdrawals requests will be satisfied from the Fund’s cash and/or realisation of the Fund’s listed A-REIT investments.
Please refer to Section 3 of the PDS for further details on the Fund’s withdrawal facility.
The Fund may borrow to acquire direct Property assets. The Fund may also invest in funds that are already geared. Gearing on a look-through basis will not exceed 50%. If the value of the Fund’s assets fall and look through gearing increases above this level the Manager will implement a strategy to restore the level of gearing to 50% or below.
Centuria will have the direct Properties held by the Fund valued at least once every 24 months. If the Manager believes that a Property has had a significant valuation movement an updated valuation will be obtained within two months of identification of the change in price. Indirect investments in funds in which Centuria or another member of the Centuria Group is the responsible entity will be accounted for by the Fund at their current valuation, as provided by the relevant fund manager.
Management fee: 0.80% p.a. of the gross asset value of the Fund. When the Fund invests in an underlying fund managed by Centuria that is already charging management fees, Centuria will not take another fee that exceeds a total look-through fee of 0.80% p.a.
Expenses of the Fund (excluding Abnormal Expenses): capped at 0.35% p.a. of the Fund’s Gross Asset Value.
Performance fee: 20% of the outperformance above a composite benchmark reflecting the Fund’s intended portfolio composition.
Establishment and placement fee: up to 2% of the total acquisition price of any property asset in which the Fund acquires a direct or indirect interest (multiplied by the Fund’s percentage of beneficial interest in that property). This fee will not apply when the Fund invests into another unlisted property syndicate where an acquisition fee of 2% or more has already been charged unless the underlying investment fund has recovered its initial acquisition costs or the relevant Units in the Fund have been purchased at a discount to Net Tangible Assets (NTA).
Sale fee: up to 1% of the sale price of any Property in which the Fund has a direct or indirect interest. The fee does not apply when the Fund invests in another unlisted property fund where a sale fee of 1% has already been charged.
The Fund will issue annual tax statements, providing a full breakdown of all distributions for the financial year. It is anticipated that the tax statements will be sent to investors by early September each year. Investors should wait to receive this statement before lodging their tax return. Please contact your tax advisor should you have any questions on the information contained within this statement.
Tax deferred distributions are generally available when the Fund’s distributable income is greater than its taxable income. This arises as the Fund is able to offset the distributable income against items such as depreciation on plant and equipment, capital allowances on the building structure, interest and costs during construction or refurbishment periods, and costs of raising equity.
Tax deferred distributions are generally non-taxable when received by investors and, as a result, are not included in your tax return for the year. However, the amount received reduces the cost base of your units in the fund, meaning that the amount is assessed as part of the capital gain when you eventually sell/withdraw your units.
As a result of tax deferred distributions you have greater access to your distributions when they are paid, as well as being able to take advantage of capital gains tax concessions when you hold the units for more than 12 months.
The WALE is a commonly used term when looking at commercial property investments. It is the way of measuring the average time period in which all leases within a property, or portfolio, will expire. The WALE is calculated across all the tenants in a property and is weighted by either the tenant’s lettable area or the tenant’s income against the total combined area or income of the other tenants. A higher WALE indicates limited short to medium term vacancies, with a shorter WALE indicating possible multiple vacancies in the short to medium term.
Centuria Investor Services Team
1800 182 257
For international investors
Phone: +61 2 9290 9600
Email: Property.Enquiry@CenturiaInvestor.com.au
Fax: +61 2 9279 0664
Mail: GPO Box 3993, Sydney NSW 2001
Investors:
https://centuriainvestor.com.au
If you have not yet registered yourself for access to the Centuria Investor website, please contact our Investor Services Team via Property.Enquiry@CenturiaInvestor.com.au OR phone us on 1800 182 257.
Financial Advisers:
https://www.adviserserve.com.au
Please contact our Investor Services Team via Adviser.Enquiry@CenturiaInvestor.com.au OR phone us on 1800 182 257.
Yes, a transfer takes place when you decide to sell all or part of your investment to another person or entity. A transfer is a change of ownership of units within the same fund. Please seek financial advice.
Please note that when a transfer takes place, our registry treats this as a new holding, even if it is a simple name change with the same trustees or company directors. Therefore all banking details, tax file numbers, Australian business numbers (ABNs) and adviser details will need to be provided on the new transfer form.
If you have any questions in relation to the transfer of your units, or wish to receive a transfer form, please do not hesitate to contact our Investor Services Team. If you are an investor, please contact us via Property.Enquiry@CenturiaInvestor.com.au OR phone our team on 1800 182 257. If you are an adviser, please contact our Investor Services Team via Adviser.Enquiry@CenturiaInvestor.com.au OR phone us on 1800 182 257
For enquiries regarding your investment in this Fund and the Centuria Investor portal. Have your investor number ready.
For enquiries regarding the management of the fund, including performance, strategic direction and property portfolio.
