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MPF wholesale fund fully subscribed

Wednesday, 31st Jul 2019

The latest property trust by Momentum Wealth’s sister company, Mair Property Funds, is fully subscribed following strong investor interest in the product.

Open exclusively to wholesale investors, the MPF Banksia Grove Property Fund holds a brand new commercial service centre located in Perth’s rapidly expanding North East Corridor, around 28km north of Perth’s CBD and 6km away from Joondalup City.

Set up to provide investors with the opportunity to own a well-balanced commercial asset with strong capital and rental growth prospects, the fund has become one of the fastest filling to date for MPF, after their Diversified Fund No. 2 received record levels of interest earlier this year.

The popularity of the recent opportunities has highlighted a growing trend amongst investors who are showing increased appetite for both retail and wholesale syndicated products – something which the MPF team believe will continue in the commercial space in light of recent interest rate cuts as income-focused investors continue to move away from floating rate products in favour of higher-yield investments.

The property is well-positioned to leverage future growth opportunities in the expanding Banksia Grove District Centre and is offering initial projected monthly distributions of 7.5% per annum, with the 5-year forecast average cash distributions of 8% annually.

In addition, the asset boasts a strong 12-year WALE, with a diverse tenancy mix spanning across a number of industries including childcare services, food and beverage, retail and more.

Whilst comprising a number of national tenants including Pet-barn, Chicken Treat, Repco and international convenience chain 7-Eleven, the property also benefits from its proximity to a number of well-established complementary businesses, including the likes of national supermarket chains Woolworths, Coles and ALDI.

MPF believe the asset will offer high income security to investors whilst also providing flexible disposal options at the end of the fund’s initial six-year term.

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