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Centuria Halls Head Central Fund
Fund status: Closed to applications – Fully subscribed
A single asset wholesale Fund that provides exposure to a land rich, sub-regional shopping centre occupying a prime position in Mandurah, WA’s largest regional city and top tourism destination. It aims to provide investors with attractive monthly income, tax deferred distributions3 and the potential for capital growth.
13.5%+
Modelled IRR
net of all fees and costs1
8.6% p.a
Targeted average distribution rate
over Fund term1,2
$100k
Minimum
investment
Asset overview
Halls Head Central is a single level shopping centre with a total gross lettable area of 19,373 m2. The Centre is anchored by strong performing Coles, Aldi and Kmart and is complemented by two minimajors, 50 specialty shops and two freestanding pad sites.
The Centre opened in 2001 and a major Centre expansion and refurbishment was completed in March 2016. The expansion and refurbishment were completed to a high standard and won the award for Best Retail Building at the 2017 Master Builders – Bankwest Excellence in Construction awards.
The Centre is positioned on an 89,439 m2 freehold site, with convenient at grade car parking for 960 vehicles and enjoys a high profile and easily accessible location for the local and wider regional population.
Offer highlights
| Target average distribution rate | 8.6% p.a. over initial Fund term, paid monthly1,2 |
|---|---|
| Initial term | 5 years |
| Minimum investment | $100,000 |
| Offer opens | 20 May 2024 |
| Offer closes | 7 June 2024 |
| First monthly distribution paid | 10 August 2024 |
Experienced, on-the-ground management team
Centuria has a depth of experience in retail asset management, with a proven Perth-based team managing 56 retail assets with a combined value of $3.2 billion.
Centuria currently owns and manages two other retail centres in the city of Mandurah that are 100% leased; the Erskine Shopping Centre and the Greenfields Shopping Centre. This on-the-ground experience and depth of tenant relationships will provide synergies that can be leveraged for the management of Halls Head Central.
Important information
Risks
Risks
All investments in unlisted property funds carry risk. As the Fund invests in commercial property, it carries the market and property risks associated with investing in property. As a geared investment, the Fund 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 Information Memorandum and understand the risks of investing.
Disclaimer
Disclaimer: Centuria Property Funds No. 3 Limited (ABN 63 091 415 833) (Centuria) is the Responsible Entity for the Centuria Halls Head Central Fund (Fund). A copy of the Information Memorandum (IM) for the Fund is expected to be available on or around 20 May 2024 at: centuria.com.au. 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 read a copy of the IM 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 risk including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund.
1. The rates specified are targets only and are not forecasts and their achievement is not promised or guaranteed. Actual returns may differ materially from the targets. The Fund’s performance is subject to significant risks as set out in the Information Memorandum.
2. Distributions will be paid if declared by the Trustee and are subject to the Trustee’s discretion. In addition, the payment of distributions on a monthly basis (or at all) is not promised or guaranteed.
3. Forecast tax deferral of 75% for the financial year ending 30 June 2025 and 70% for the financial year ending 30 June 2026. Tax deferred percentage of distributions are expected to reduce over the remainder of the Fund term. Investors should obtain independent taxation advice.