Multiplex Prime Property Fund (Fund) is a Unit Trust listed on the ASX (ASX code: MAFCA), which owns an impressive portfolio of CBD office assets in Sydney and Melbourne. The quality of tenant cashflows, lease expiry profile, diversification and near new nature of the portfolio are forecast to provide an attractive and stable income stream.
Key Features:
- A portfolio of A-grade property assets (see below)
- Diversified tenancy profile including the Victorian State Government, the Commonwealth Government of Australia, American Express and Ernst & Young
- Substantially new properties with an average age of 4.5 years
- 80% of property income subject to fixed rent reviews of between 3.50% and 4.75% per annum
- Weighted average lease expiry of 7.8 years (by income)
- Exposure to the improving fundamentals of the Sydney and Melbourne commercial office markets
Key Information*
|
| Listing date: |
15 September 2006 |
| Close date: |
Open ended |
| Fund size: |
$619 million |
| Distributions: |
Paid quarterly |
| ASX code: |
MAFCA |
| Portfolio Occupancy: |
100% |
| Assets: |
Ernst & Young Centre and 50 Goulburn Street, Sydney
(50% interest valued at $282.25 million)
Southern Cross Tower, Melbourne
(25% interest valued at $136.25 million)
Defence Plaza, Melbourne
(100% interest valued at $66.6 million)
American Express Building, Sydney
(100% interest valued at $130.0 million)
Portfolio of investments in Listed Property Trusts
(market value approximately $4 million) |
* as at 17 December 2008
Returns
|
| Total investment return from Fund inception to November 2008: |
-54.5% (annualised) |
| Forecast distributions**: |
Please refer to ASX announcement dated
17 December 2008 |
** Distributions are forecast to be 100% tax deferred for the period 30 June 2008 and may be 100% tax deferred thereafter
Performance
|
| Income distribution (CPU)1: |
see forcast distributions |
| NTA per unit ($)2: |
0.48 |
Fund return from inception to
30 November 2008 (%)3: |
-54.5 |
1. Cash distribution for the quarter ended 30 September 2008 annualised on a cents per unit (CPU) basis.
2.Net Tangible Assets (NTA) unaudited value per unit as at 30 September 2008.
3.Internal rate of return (pre-tax) from fund inception to 30 November 2008.
Important Notice:
Past performance is no indication of likely future performance. All figures are unaudited unless otherwise indicated.