Peak Equities Pty Ltd invites interested parties to participate in our newest Syndication.
Bartercard House, at 121 Scarborough Street, Southport, on Queensland’s Gold Coast, has been purchased for $11,600,000. We are seeking to raise between $5.8 million and $6.2 million in equity capital, with the remainder financed by non-recourse borrowings from one of the major Australian banks.
The equity capital will be applied, in part, towards tenancy fit-out works to accommodate the new government tenant (see below) and to allow for associated incentive payments. These outlays have been incorporated into our forecasts and calculations of likely returns.
Peak Equities Pty Ltd, ACN 165 827 574 (“Peak”) is the holder of AFS License 458013, pursuant to which it is entitled to issue units to qualifying “wholesale” investors.
Investors will be allotted Ordinary Units of $1,000 each in the capital of the Peak 151 Unit Trust, which has purchased the Bartercard House property. Applications must be for a minimum of 100 Ordinary Units ($100,000) and must be made on the Trust’s specified Application Form, which is available to intending investors upon request.
Key Investment Attributes
Bartercard House is considered to be a high quality, secure investment opportunity for qualifying investors. Key attributes of the investment are:
∙Fully leased with approximately 95% of net lettable area leased to AAA tenants - Queensland State Government and Bartercard Limited, a subsidiary of an ASX listed company;
∙Well purchased at a passing yield of 8.63% on a fully leased basis, with an average lease expiry of approximately 8 years;
∙First-class location - strategic corner site on the main street in Southport, Gold Coast’s CBD;
∙Underlying land value with future residential development potential under the Southport (Priority Development Area) PDA;
∙A well-presented building, built to a high standard and recently refurbished with upgraded façade and improvements to the elevator and air conditioning plant;
∙Guaranteed liquidity to investors after 6 years; and
∙Multiple exit strategies including sale to developer, standard sale or strata sell down.