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August 2021
Date Acquired
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$7.82 million
Acquisition Price
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1.81 years
WALE (at acquisition)
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12%
Target IRR p.a.
The Lake Macquarie Property Trust is a multi-tenanted industrial estate in Warners Bay in the Lake Macquarie region of NSW. Located 15km southwest of the Newcastle CBD and 155km north of the Sydney CBD. The property offers 4,315sqm of gross lettable area on a 11,380sqm landholding.
The property was acquired with the strategy of driving rental income through negotiating with tenants to increase the rent to market levels, as their leases expire. EG has employed numerous value-add strategies that will achieve capital growth for investors.
The Trust forecasts initial cash distributions of 6.25% p.a. increasing to an average distribution of 7.25% p.a across the 5-year term of the Trust.