Brownlee Property Trust

The Brownlee Street Property Trust was established to acquire a property located in the Australian Trade Coast, Brisbane and leased to L3 Harris. The Property is within an emerging “defence precinct” in Pinkenba. The neighbourhood includes the French defence contractor Thales, which supplies the Defence Department with the Bushmaster vehicles, which carry Harris communications equipment. Other proximate neighbours include Airbus Helicopter. The base building has been modified by the Tenant to deliver a very high level of building security commensurate with the work being performed for the Australian Defence Force and the US Pacific Fleet. The tenant has an obligation to restore the building to base conditions at the termination of its occupancy.

In July 2022, following the sale of the property, the Trust was wound up with a final unit value of approximately $2,122.19 and IRR to investors of 23.51%.

Units were issued for $1,000 and upon liquidation, had returned approximately $2,937 per unit to investors.

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Distribution yields are expressed as a percentage of the subscription price paid for each unit less any capital return.

1. Each 30 June the Directors of Pipeclay Lawson estimate the value of units in the Trust in accordance with the valuation policy using the latest valuation for mortgagee purposes. The most recent independent valuation of the property was undertaken in April 2021.

2. The Actual Income Distribution Yield is the Actual Income Distributions divided by the Average Capital Invested during the year. The Brownlee Property Trust completed the acquisition of the property on 9 May 2016, the Actual and Forecast Income Distribution Yields for the financial year ending 30 June 2016 are annualised.

 

3. The Forecast Income Distribution Yield are as forecast in the Information Memorandum dated 22 April 2016.

IMPORTANT NOTICE: Past performance is not an indicator of future performance.