The Zenith becomes one of the most in-demand metro office properties in Sydney: Both towers now 100% leased after significant active asset management by Centuria’s unlisted funds team, in conjunction with partner BlackRock.
Centuria Capital Group (Centuria, ASX:CNI) today announced that since acquiring The Zenith, – a two-tower A-Grade office building on Sydney’s north shore – it has completed over 44,500 sqm of leasing transactions across 54 individual deals.
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Investors considering property funds want to be assured of both strong ongoing income returns and promising long-term total returns – and there are various factors that determine these: how good a fund manager is at buying, selling, and improving properties, of course. But we believe that leasing, while far from the only consideration in property investment,
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South Australia’s premier CBD office property the latest addition to $4.7 billion portfolio
Centuria Capital Group (CNI) today announced that it exchanged unconditional contracts for the purchase of a 50% stake in the Bendigo & Adelaide Bank headquarters at 80 Grenfell Street, Adelaide, for $92.3 million. Acquisition of the $184.6 million office tower was made in partnership with Centuria’s capital partner,
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Due diligence is essential before making any investment decision – and property is no exception. Direct property markets may not be as volatile as equities and other listed investments, but they are affected by a large number of factors (both macroeconomic and property-specific), so understanding and interpreting these factors is essential to making the best possible decisions.
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Welcome to our August 2017 edition of Investment Bond Insights
Labor sets its sights on discretionary trusts
Although the next federal election is not due until November 2019, the Australian Labor Party has been busy rolling out policy announcements. Within this article, Centuria looks at Bill Shorten’s recent announcement about the taxation of distributions from discretionary trusts.
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Huge investor demand for the Scarborough House Fund sees it closed early to new investors.
Centuria Capital today announced that its unlisted property trust, the Centuria Scarborough House Fund, (the Fund), is oversubscribed due to unprecedented demand. Centuria received demand for $150 million of equity with only $46 million of equity on offer and it was closed to new investors after 5 days.
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Centuria Property Funds today announced that it has sold its commercial office tower at 200 Creek Street, Brisbane, for $38.7 million. The property has been purchased by Sentinel Property Group.
Jason Huljich, CEO of Unlisted Property at Centuria, said:
“We purchased the property in 2011, and since then we have carried out a series of upgrades and refurbishments designed to make the building more appealing to tenants.
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Heathley is pleased to announce that the Heathley Medical Property Fund No.1 settled the sale of its only property, 20-22 Mons Road, Westmead NSW. The Property has sold just 2 years into 5 year term, delivering investors a 22% IRR. The sale will provide a very healthy capital return to investors.
The final net sale price of $30.5 million represents an increase of $7.2 million (or 31%) on the previous independent valuation for the property of $23.3 million and has resulted in an investment return for investors exceeding forceast.
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Centuria Fund wins Unlisted Property Fund of the year: PIR Awards
Centuria Property Funds Limited (Centuria)’s 203 Pacific Highway Fund has received the prestigious Unlisted Property Fund of the Year 2016 accolade at the Property Investment Research (PIR) awards. It is the second year running that Centuria has received the fund of the year award, which last year was taken out by Centuria’s 8 Central Ave Fund No 2.
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The second quarter economic news was dominated by volatile share markets and falling interest rates. It was reported that blue chip shares as represented by ASX 100 had risen less than 1% over the past 10 years. The Reserve Bank also lowered Australian interest rates further with the official cash rate now 1.75%. More recently, we have seen big swings in global equity markets as a result of Britain voting to leave the European Union.
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