A time-limited opportunity to invest in a landmark industrial estate – strategically located next to harbour, rail and road transport networks – and earn attractive, tax-deferred income.1
Forecast average annual distribution rate over initial Fund term1
Modelled target IRR (pre-tax, post fees)2
Tax-deferred in FY263
Initial Fund term4
The Fund will acquire a 100% interest in the Port Adelaide Distribution Centre (the ‘Property’) – one of Adelaide’s largest and most prominent industrial estates.
A foundational part of the industrial landscape in Adelaide, key attributes of the Property include:
The Property accommodates multiple tenants, including national and multi-national companies such as Visy, Toll and Spendless Shoes, several of whom depend on its unique locational and logistical advantages for their operations. This multi-tenant structure combined with the property’s infrastructure-like significance is expected to generate diversified and stable cashflows.
The Centuria Port Adelaide Industrial Fund has obtained a Recommended rating from Core Property Research.6
The Property occupies a prime location in Gillman, South Australia; approximately 12 km northwest of the Adelaide CBD within the state’s key industrial and logistics hub of Port Adelaide.
Situated within Adelaide’s North West precinct, the Property has strategic proximity to the harbour, including the Port of Adelaide and Osborne Naval Shipyard, interstate rail networks and major arterial roads including the Port River Expressway.
The precinct currently has the second lowest industrial vacancy rate in Australia7 and limited new supply is expected, positioning the Property for continued rental growth driven by robust tenant demand.
Significant infrastructure investment committed by the South Australian Government and large-scale defence projects at the Osborne Naval Shipyard are also expected to drive continuing industrial demand in the Port Adelaide area in the years ahead.
Centuria has extensive expertise in the industrial sector with a large multi-national portfolio and a deep tenant network in South Australia.
Centuria has over 25-years of commercial property experience and $19.6 billion in real estate assets under management across the group8. Within South Australia, Centuria owns 15 industrial assets valued at $471 million6, positioning it as one of the largest industrial landlords in the state.
All investments in unlisted property funds carry risk. As the Fund invests in industrial property it carries the market and property risks associated with investing in this sector, including climate and environmental risks. 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 IM and understand the risks of investing. 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.
Investors cannot withdraw their investment during the five-year initial investment Fund Term. The initial Fund term may be extended – refer to the terms and conditions in the IM.
Complete this form to express interest in the Centuria Port Adelaide Industrial Fund and receive a copy of the Information Memorandum.
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1. Forecast average annual distribution over the initial five-year Fund term and assumes that settlement of the property will occur on or around 1 November 2025. Forecast distributions shown are annualised and pre-tax. Distributions will be paid if declared by Centuria Property Funds Limited and will be subject to the terms, assumptions and risks set out in the IM. The forecast distribution rate is predictive in nature and is subject to assumptions, risks and circumstances (both known and unknown) outside of the control of the Fund. These assumptions include that all tenants will satisfy their contractual obligations under their respective leases within a timely manner, there are no significant unforeseen capital costs or material changes to the Fund’s financial obligations. The actual returns may differ from the target/forecast return. The Responsible Entity does not guarantee the performance of the Fund, the repayment of capital or any income or capital return. Past performance is not reliable indicator of future performance.
2. Modelled target IRR applying assumptions including terminal cap rates for the property. The modelled target IRR is subject to due diligence and the modelled return is not a forecast and is provided for the information of Financial advisers only. The modelled target IRR is net of fees, pre-tax and based on Centuria’s acquisition modelling but is highly contingent on the key future assumptions, which are not contracted or certain. No guarantee is made that the modelled 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 modelled IRR.
3. Forecast distributions are expected to be 60% tax deferred for FY26 and 45% for FY27. For Australian residents only.
4. Initial Fund term may be extended – refer to terms and conditions in the PDS.
5. Weighted average lease expiry (by net income) as at 1 November 2025 and inclusive of 16.5 month rent guarantee over the vacancies (8.1% of net income), as well as the executed three-year lease to Marnco over Warehouse H, which is subject to approval from the South Australian Environmental Protection Agency.
6. The Core Property rating (assigned in August 2025) presented in this document has been prepared and issued by Core Property Research Pty Ltd (“Core Property”), which is an Authorised Representative ASIC number 1280479 of Core Property Research Holdings Pty Ltd (ACN 633 170 751, AFS License No. 518320) (Licensee), and trading as Core Property. Whilst the information contained in the report has been prepared with all reasonable care from sources that Core Property believes are reliable, no responsibility or liability is accepted by Core Property for any errors, omissions or misstatements however caused. Past performance information is for illustrative purposes only and is not indicative of future performance. The Core Property publication is not and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information only. Neither Core Property nor the Participant is aware that any recipient intends to rely on this Report or of the manner in which a recipient intends to use it. To access the full report, please visit www.coreprop.com.au. The rating is subject to change without notice and Core Property assumes no obligation to update the report.
7. CBRE Research 2Q25.
8. As at 31 December 2024. AUM includes assets exchanged to be settled, cash and other assets and the impact of revaluations during the period.
Disclaimer: Centuria Property Funds Limited (ABN 11 086 553 639 AFSL 340 304) (CPFL) is the responsible entity for the Centuria Port Adelaide Industrial Fund (ARSN 689 742 505) (CPAIF) (Fund). CPFL is a wholly owned subsidiary of the Centuria Capital Group (Centuria) (ASX:CNI). It is intended that an Information Memorandum (IM) for the Fund will be issued on or around 1 September 2025. You should obtain and read a copy of the IM relating to the Fund before making a decision to invest. The IM for the Fund will be made available from Centuria’s website (www.centuria.com.au). The information in this communication 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 advisor before investing.
