Core Property has reviewed the Centennial Hinkler Central Trust, the latest fund offering by Centennial.
The Fund provides an opportunity to invest in the Hinkler Central Shopping Centre located in the heart of the CBD in Bundaberg QLD. The Centre delivers strong trading metrics and is anchored by Kmart, Woolworths and Coles, who occupy 63.6% of the floor space. The Fund will invest in the Property by way of acquiring units in the Parkstone Retail No 1 Unit Trust, which is managed by Parkstone Funds Management, a boutique property fund manager with strong experience in managing regional retail properties and developments.
The Manager is targeting an initial distribution of 7.9% in year 1, with average distributions of 8.3% p.a. over five years.
The Fund is seeking to raise up to $58.7M through the issue of up to 58.7M units at $1.00 per unit. The Offer has a close date of 15 December 2023 and is available to wholesale and sophisticated investors.
Core Property has rated the Fund as RECOMMENDED.