WALE (at acquisition)
Target IRR p.a.
The EG Long WALE Property Trust No.1 provides wholesale investors with the opportunity to acquire units in a wholesale property trust that comprises a fully leased, high-exposure Toyota showroom and maintenance centre just 3km east of the Brisbane CBD.
The Morningside property is fully leased for 15 years to Servco Australia, the largest Toyota dealership network in Australia, providing a strong tenant covenant. Over the 7-year term of the Trust, EG will undertake the refurbishment of the existing showroom and repair centre, rentalising the capital expenditure works, enhancing the returns for investors.
The Trust will provide investors with a stable initial cash distribution of 7.25% p.a. increasing to an average distribution of 8.50% p.a. over the 7-year Trust term.
"EG's Long WALE Property Trust No.1 represents one of many opportunities that EG now offers sophisticated investors through our Private Wealth division."