EG Acquires Investment Property For New Private Wealth Division

EG is pleased to announce the successful acquisition of a Toyota dealership and showroom on Wynnum Road, Morningside, QLD for EG’s Long WALE Property Trust No. 1 for $13.6 million.

The property has a land area of 8,324m2 and comprises a fully-leased, high exposure Toyota showroom, repair/maintenance centre, and second-hand dealership 3km east of the Brisbane CBD. The property was acquired with a 15-year leaseback to global car dealership group Servco, one of the largest Toyota dealership groups in Australia.

Wholesale investors can expect to benefit from strong and stable cash distributions of 7.25% p.a. increasing to 8.5% p.a. across the 7-year term of the Trust.

The transaction was brokered by CBRE’s Capital Markets, Industrial & Logistics team.

“EG’s Long WALE Property Trust No. 1 represents one of many opportunities that EG now offers sophisticated investors through our Private Wealth division.” said Head of EG Private Wealth, Rodney Walt.

“EG will continue to source investment for our Private Wealth division, providing investors with stable income cashflows, and the potential for capital growth through various value add strategies, which for this acquisition includes a major refurbishment of the existing dealership” Associate Director, Capital Transactions Sean Fleming added.

EG helps grow the wealth of their private investors through commercial property syndication opportunities. With consistent above-average returns and capital security, EG takes a personalised and aligned approach to every opportunity.

EG will utilise proprietary risk management software, PRISMS® to identify the opportunities, consider the risk and match the deal to the investor profile. EG’s disciplined, data-driven approach to risk management enables the safeguarding of investor funds whilst maximising returns.

Founded in 2000, EG is investing $3.2 billion in real estate on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. EG is committed to finding a better path to better returns.

EG invites enquires from sophisticated investors for several upcoming opportunities. Please contact Rodney Walt on rwalt@eg.com.au