37 - 41 Prospect Street, Box Hill VIC
Investment Status: Sold
Leased to: NAB, Serco & Loscam
Purchase Date: 23 January 2003 Purchase
Sale Date: 21 November 2014
Sale Price: $13,800,000
Overall Return: 13.73% (per annum, before tax)
Fawkner Property was elected as trustee of the Trust in June 2011 after the unitholders took action to replace the former Trustee.
Under management by Fawkner Property, the occupancy rate in the building was maintained at 100% – a significant achievement, as all the leases came up for renewal and significant office vacancy developed in the Box Hill precinct. This enabled increased distributions to investors.
|Date of Increase||Distribution Rate per annum|
|Prior||10 cents per unit|
|June 2011||11 cents per unit|
|July 2014||15 cents per unit|
The property was sold fully leased. The overall average total annual return to investors has been 13.73% (before tax) – a very good return for an investment spanning the so-called global financial crisis years.
*Past performance is not indicative of future performance. Each trust managed by Fawkner Property will have different properties, characteristics, and risk and should be assessed by an investor independently of the performance of completed trusts.