Geebung Property Trust
Geebung Property Trust
The Geebung Property Trust was established to acquire two adjoining general industrial sites in a well-established industrial location. 92.1% of the premises were newly constructed and leased for 15 years to a quality tenant. The purchase yield of 500 bps above the 10 year bond rate presented a long term reliable and steady income with the security of being located in a well established Brisbane industrial area.
Geebung is a well-established industrial area, 13 kilometres north of Brisbane's CBD, surrounded by residential suburbs. The area consists largely of service providers and manufacturing and assembly operations, which benefit from proximity to both skilled labour and customers. The Property is 4 kilometres from the Boondall entrance to the Gateway Motorway, which provides direct access to the Port of Brisbane, Brisbane Airport and the major arterial routes that service the greater Brisbane area.
The Trust provides its investors with the opportunity for a secure, long term (and growing) yield on investment.
Capital Invested: $1,000
Capital Returns to date: $175
Unit Value in accordance with the valuation policy as at 30 June 2023: $1,400
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 so that Unitholders can meet certain regulatory reporting requirements. These estimates are provided to Unitholders for this purpose only and are conducted in accordance with Pipeclay Lawson's unit valuation policy. The most recent independent valuation of the Granite Street property was undertaken in September 2021. It valued the property at $36.35 million. The Newman Road property settlement took place in October 2022. After seeking guidance from valuers and or agents the Directors have adopted a total value of $31.9 million for the Granite Street property in determining their estimate of the unit value for 30 June 2023.
2. The Actual Income Distribution Yield is the Actual Income Distributions divided by the Average Capital Invested during the year. The Geebung Property Trust completed the acquisition of two adjoining properties on 21 October 2016, the Actual and Forecast Income Distribution Yields for the financial year ending 30 June 2017 are annualised.
3. The Forecast Income Distribution Yields are as forecast in the Information Memorandum dated 8 September 2016.
IMPORTANT NOTICE: Past performance is not an indicator of future performance.