Palmyra Property FundFully Subscribed
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7.5% per annum
5.7 year WALE
$100k min investment
*Forecast distributions are not promised nor guaranteed and are based upon a number of assumptions. Their achievement is subject to risks. The target return is a target only, not a forecast and it might not be achieved. Please refer to the Information Memorandum (IM) for more information, noting the section on financial information and risks.
Key Information on the Fund
- Strategically located asset
- Tenanted by one of WA’s largest food wholesalers
- Future growth opportunities
This single-asset investment fund is purchasing an industrial cold storage facility in Palmyra, and is open exclusively to wholesale investors. Since 2008, the property has been tenanted by Sealanes, a key operator of the non-discretionary food and refrigerated logistics market in Perth, with stated turnover in excess of $300 million p.a.
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This off-market purchase offers investors 7.5% distributions (paid monthly*), with potential for income and capital growth:
- Leased to Sealanes which is a wholly owned subsidiary of Superior Food Group – the third largest food service distribution company in Australia.
- Tenant is responsible for all outgoings including all repairs and maintenance relating to the refrigeration plant and equipment.
- Cold storage facilities are in low supply in the Perth metropolitan area, with increasing demand due to online food sales.
- Competition limited due to high replacement cost of a new facility.
Single asset purchase, buying below replacement cost.
3% rent reviews
Fixed rental growth with annual 3% rental reviews.
Rental yield with established tenant.
5.7 year WALE
5.7 year Weighted Average Lease Expiry.
Average number of vehicles passing each day on Leach Hwy.
Significant land holding with a high underlying land value.
|Address||2 Absolon Street, Palmyra WA|
|Building Area||9,017 m2|
|Land Area||20,251 m2|
|Tenant||Sealanes (1985) Pty Ltd A wholly owned subsidiary of Superior Foods Group|
Strategic, High Profile Location
The property is located within the Palmyra/O’Connor industrial area, approximately 13km south-west of the Perth Central Business District and only 4km east of Fremantle Port. More specifically, the site is located on the corner of Leach Highway and Absolon Street; a high-profile location that benefits from an average of 33,443 vehicles passing the site each day.
This is a strategic location for distribution, being on the main freight route to and from Fremantle Port, and providing easy access to all of Perth’s major arterial road networks including Stock Road, Kwinana Freeway and Roe Highway. There is also a dense residential population surrounding the site with approximately 590,000 people within a 15km radius.
Major occupiers in the area include D’Orsogna Small Goods, Gage Roads Brewing, Koala Self-Storage, Vinidex, and Transperth O’Connor Bus Depot
The property is leased entirely to Sealanes, a wholly owned subsidiary of Superior Food Services, a private equity backed national food service distributor and the third largest food service distribution business in Australia.
Sealanes has a large-scale operation in Western Australia, originally established in 1895 as a small grocery shop in Fremantle. Over more than 100 years, the company has grown through four generations of family and today it is the premier Food Service, Seafood Distribution and Ship Supply company in Western Australia. The sale to Superior Food Services in 2016 has defined a wider national reach, with over 20 branches and business premises across the country.
Tenant A Subsidiary of
Superior Food Services has developed a sound reputation as a market leader in storage and distribution services, with major customers including Hungry Jacks, Domino’s, Subway, Guzman Y Gomez, Compass Group and Sodexo to name a few.
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Units in this Fund are issued by Mair Property Securities Ltd ACN 091 623 862 AFSL number 238386 (Responsible Entity) as responsible entity of the MPF Palmyra Property Fund. Mair Property Funds Limited ACN 151 957 676 is the investment manager of the Fund (Manager).
The information provided on this website is general in nature and does not constitute investment advice or personal financial product advice. This information does not take into account your investment objectives, particular needs or financial situation. You should seek independent financial advice.
The content of this page does not constitute an offer or solicitation to subscribe for units in the Fund or an offer to buy or sell any financial product. Accordingly, reliance should not be placed on this document as the basis for making an investment, financial or other decision.
Past performance is not a reliable indicator of future performance. Performance comparisons are provided purely for information purposes only and should not be relied upon. The information included on this page may include information that is predictive in character which may be affected by inaccurate assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved.
Whilst all care has been taken in preparation of this content, neither the Responsible Entity nor the Manager give any representation or warranty as to the reliability, completeness or accuracy of the information contained in this document. Neither the Responsible Entity nor the Manager accepts liability for any inaccurate, incomplete or omitted information of any kind or any losses caused by using this information.
You should obtain and carefully consider the Information Memorandum (IM) for the Fund before making any decision about whether to acquire, or continue to hold, an interest in the Fund. Applications for units in the Fund can only be made pursuant to the application form relevant to the Fund. You can obtain a copy of the IM and application form by calling 08 9321 5566 or emailing firstname.lastname@example.org