WALE (at acquisition)
Target IRR p.a.
EG acquired this fully leased multi-tenanted retail estate in Punchbowl, which is located approximately 19km southwest of Sydney CBD. The property comprises of 6,908sqm of GLA over seven individual tenancies, a 1,947sqm land lease to a petrol station and 2,300sqm of vacant industrial hardstand.
EG aims to improve the rental income upon tenant’s lease expiry, capturing the rental growth opportunity in the market.
The Trust forecasts initial quarterly distributions of 6.70% p.a. increasing to an average distribution of 6.75% p.a. over the 5-year term, with a target 5-year IRR of 13% p.a.